You’d be surprised at what you can do without VC money coming in.
To start 2023 with confidence, I want to share an anecdote from one of the B2B SaaS CEOs in my weekly Mastermind program.
July last year, his investors wanted him to raise more money. He decided not to raise, even though this meant having less money to work with and likely failing to deliver on the X-acceleration expectations.
It was the best decision he could have taken.
Because we had less money to work with, it forced us to rethink our sales process, funnel movement, and motion, and optimize every funnel stage. Today, the machine is just running way smoother than ever ran before.
Here’s the thing
Too often, we think we need others to help us grow faster. If we’d raise that next round, we’d make it through the dip and come out way stronger. And it’s not true. Funding makes us lazy. It numbs our senses for what really matters – and, more often than not, it stops us from building a lasting business. No one benefits from that.
Let me share the words used during the mastermind:
For me, that proved the future is in our hands. It’s not contingent on VC x of y, putting in money. You shape your future. You’re in the driver’s seat, whether VC money comes in or not, and you’d be surprised at what you can do without that VC money coming in.
If we want to escape the vicious cycle of desperately chasing funding, we must start building a remarkable software business. A software business that surprises everyone – your customers, your investors, yourself – and even your competitors
That starts with doing things right. Let’s make that the goal in 2023
Question for you to reflect upon
What can you do differently in 2023 to make funding an option (not a set choice) because you start from a position of strength?
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