When I founded my first company, I looked at reports and updates for investors as administrative tasks. But then I had an epiphany that changed my whole perspective - having involved investors who held me accountable was actually a boon to my business.
Billionaire venture capitalist Marc Andreessen recently wrote that "raising money is the easiest thing a startup founder will ever do." Running your business is the true challenge, and for that, you need the smartest, most well-connected people you can find to help you.
To grow your business, it's essential to train your fundraising efforts on building partnerships, not just securing investments. When I'm searching for partners, I follow these three rules to keep my focus on what's best for my company's long-term success.
What you should really ask during a funding round is this: Who can contribute the most value to my business? Value might mean funds, but often, value can come in the form of expertise and connections, too.
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