“As SaaS entrepreneurs, our job is to build a business to fulfill a vision – and that vision needs to be fulfilled whether VC money comes in or doesn’t come in.”
That was one of the passionate answers from yesterday’s B2B SaaS CEO Mastermind. The topic of focus: Assuming the next funding round isn’t coming, what does that mean?
Here’s the thing:
In the past years, far too many SaaS businesses were started with a very dangerous mindset: Money is free – let’s build something fast and exit big.
Not surprisingly, many ended up landing funding rounds based on crazy valuations and expectations that are impossible to achieve now that the sentiment has changed.
Here are 5 pieces of wisdom worth sharing:
- Always assume the next funding round will not come. Build a business to last – based on strong unit economics
- Don’t get sucked into the ‘grow fast or die’ culture. It’s venomous. The mission is to deliver meaningful change; no one pushes you to do that in <3 years.
- Prioritize strategic partnerships – with people with the same blood type and are 100% aligned on the mission.
- Ensure funding remains an option, not a set choice. That way, you can create FOMO – you’re the one bringing the opportunity, not ‘them’ (VCs)
- Flip the leverage – realize VCs need you for deal flow more than they need you for survival.
But most of all, remember this:
“The world needs people that build the future. Remarkable B2B SaaS founders finish the mission, And quitting is not an option.
Yes, it’s hard, and it’s supposed to be. But things don’t fail – we decide -there’s always a way.”
(PS – This is the typical spirit in the CEO Mastermind we’ve created: If you’re a B2B SaaS CEO and want to be part of this – check this out)
Question for you to reflect upon:
Where do you need to get laser-focused in the coming two quarters to ensure you stay on the path of delivering your mission?
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