Team Building vs. Fundraising

In this episode: If your whole business plan is to raise money, get a new plan. I thought it was time to fundraise ** You have no market intelligence to share with an investor ** People don't usually invest in a business. They invest in people and look for a team ** How can I get market validation if I can't make my product? ** Your time is better spent building a team instead of fundraising ** A start up is not a business A start up is an idea looking for a business ** We never raise money until we have a pilot or a customer ** If you fundraise early on, you will probably be giving up equity ** You're better off finding a good partner structure. If you fundraise to build a company, build the company ** I don't know who gives money without milestones ** The Greater Fool Theory of Investing ** Is your goal to be sold or to get your product to market? ** Joule strategy to market ** The quickest way to raise money is to get to revenue ** Do your research ** As a founder, you need to be realistic ** Your extended network is part of your team ** Surrounding yourself with the right people is worth its weight in gold ** Organizational Behavior 101: Conflict is good ** The further in development you get, the more valuable your company is ** I'm shocked at people who raise money and can't explain what their business actually is ** You have to be willing to be disproved ** Owners need to get a backbone ** Analyzing information is a practiced skill you need in business ** What is the best use of the resources around you? Sponsor this Podcast: https://chrisjonesmedia.com/no-followers-podcast