I know a lot of founders set out from day 1 to raise VC. I have been one of them. I also know that a lot of founders set out from day 1 to NOT raise VC. I have also been one of them. The allure of not raising VC for me was pretty simple - if I could build a business worth a fraction of the value and at an exit end up with the same return, and it seemed to me like building a business worth say $20M that I might would get the majority of the proceeds from was an order of magnitude easier than building one worth $100M that I might end up with 20% of.
My business was a failure. Product development took longer than I anticipated and those early sales that would fund the company didn't materialize as quickly as I would have liked, and eventually the early employees wanted to be paid real money (not to mention I wouldn't have minded to halt my personal hemmoraging of cash as well).
I was honest with myself when that point came. I had given it my best shot, worked hard, and come up short. It was time to move on and get a real job. And that was the moment that I started crafting the investor pitch that led to closing a venture investment in the company.
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