In the past weeks, you’ve seen me writing quite often about SaaS funding, and in particular how to avoid getting stuck in a vicious cycle. Today I posted the final long-form blog on the topic.
In summary: Every SaaS business has funding needs. Obviously – and it starts on day one when we embark on the journey to find product market fit.
But there are two sides to this:
- do we start from a position of strength, or….
- does this become a torturous journey of chasing money out of desperation?
And I think we can all see examples around us where this is the sad, but ugly truth. That’s why I focused the past month to write a long-form blog to get my finger behind the question: How can we avoid this?
It is possible to start from a position of strength – and build that strength along the way. What I found was that it’s about paying attention to 7 different habits:
- Habit 1 – Pay attention to the signals
- Habit 2 – Maintain a healthy mindset about funding
- Habit 3 – Keep challenging yourself: “Fundraise or bootstrap?”
- Habit 4 – Stay obsessed with the right thing
- Habit 5 – Apply an outside-in approach – always
- Habit 6 – Be guided by your Unit Metrics
- Habit 7 – Dare to say No at the right moment
As with many things, the power is in the mix – make each habit work for you – and your strength will build. Then you have choices. And choices are what it’s all about.
Stop the vicious cycle of desperately chasing funding. Start choosing your funding from a source of strength.
Be remarkable