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As a solo founder, I started off by breaking one of the cardinal VC rules that says you can’t build a successful startup on your own. Never mind the research that says solo-founded companies are twice as likely to become profitable as companies with multiple founders. No, what this rule really means is that VC firms will not fund startups with just one founder.
This is because VCs don’t just care about if you can get things done. Seeing multiple co-founders shows a VC that this person can sell their vision to other people and it gives the VC insurance in case one of the founders burns out.
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As someone who has helped lead a successful funding round for a VC-backed startup, I have a pretty good idea of what it takes to get a venture capital firm to buy into your vision and cut you a check.
Yet for my current project, Epilocal , I decided t...
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In my case, I didn’t need any money to get started — I’m able to do all of the work in my business currently and I have built up a personal runway over the years that gives me the freedom to work for some time before getting significant sales. And I’m not trying to target a huge market — in fact,...
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While there was very little information out there for people who are following a more gradual and modest path to building a business. What this means is that you will often find yourself breaking the so-called “rules” or the dogma that has been established over the years by the most influential a...
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22 reads
Once I removed the thought of VC funding from my mind, what I found is that it empowered me to think differently than the way most people think about startups. This is because the majority of information you will read on the internet about startups is geared towards your wannabe blitzscaling, wor...
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As mentioned before, VCs are looking to fund companies that can capture huge markets. As a result, they’re not interested in building businesses that can comfortably sustain founders and employees.
If they can’t get an exit that contributes to their returns in a set period of time, then it ...
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11 reads
One of the main things that VCs are looking for is a huge target market, usually at least $1 billion, that you can address through your startup. The reason for this is simple: VCs invest in multiple startups with the understanding that some of them will fail, some of them will not grow very much,...
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All new posts will be made available first at the Epilocal Open Blog , where you can sign up for special behind-the-scenes content from my newsletter. You can also follow me on Twitter .
Original...
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One of my biggest pet peeves when it comes to the startup ecosystem is the number of startup coaches out there spouting the same recycled wisdom from Steve Blank or the Lean Startup about how you have to “ get o...
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10 reads
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One of the main things that VCs are looking for is a huge target market, usually at least $1 billion, that you can address through your startup. The reason for this is simple: VCs invest in multiple startups with the understanding that some of them will fail, some of them will not grow very much,...
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