There was a good reminder placed on The Funded yesterday. It’s a note from an entrepreneur entitled The Gift of Not Getting Funded (Early). I really like this quote:
What our lack of funding made us do is go back to basics. We know we had the seed of a good idea but struggled to come up with a sustainable model. Along with lots of hard work we talked with potential customers and came up with a solid way to generate revenue. Our potential customers are now signing letters of support saying they like our product and find it beneficial for their business and are willing to be contacted by investors. We have never had this in previous attempts to raise money and now feel confident in our plan.
The author, who has a screen name but not any additional details, makes this excellent conclusion:
Don’t despair if you haven’t gotten funded yet. It could be a gift in disguise.
Good point. And good example.
Which reminds me: If you’re an entrepreneur looking to get funded, go to thefunded.com and angelsoft.net. Both of those are excellent sites, very valuable for entrepreneurs, free and very useful. Oh, and by the way, if you’re an Oregon entrepreneur and looking to get funded, go to Willamette Angel Conference. Please.
(Photo credit: William Attard McCarthy/Shutterstock)
This entry was posted on Thursday, November 5th, 2009 at 6:49 am and is filed under angel investment, startup financing, venture capital. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.One Response to “The Gift of Not Getting Funded”
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November 8th, 2009 at 1:51 pm
I agree with the author.