Do you really want money (funding)? Most will rush to yes too hastily.
I believe in a model of organic growth. I am the first to admit that this will take longer to grow, but it will be solid growth.
Look around you at companies that got funded, how many made it? How many failed? Research shows that even the best Venture capitalists have a 1 to 6 ratios of success with companies they fund. So, the odds are not in your favor.
I cannot say that funding is the only cause of failure, but I believe getting funding can cause failure. Sometimes an immature management structure with a big amount of money is a dangerous thing. Money gets wasted, focus is lost, and organizations get fat.
So what is the alternative? I believe a startup is better off proving a concept, designing a structure for growth, starting off on it without any funding, and then getting funding for a specific project or program, not for the whole organization.
Now if you decide to get money, and you have a good idea, it is much easier than you think. All you need is:
- A good idea
- Clear communication of the idea
- People with the right level of tolerance to the risk associated with your organization
Money is out there. Getting it is not an issue as long as you have the right idea, and you can communicate it well in a way that aligns with the goals of the venture capitalist.