Do you REALLY need to raise money for success?

Do you REALLY need to raise money for success?

I asked this question on Facebook on Oct 13, 2017.

Wow, was I in for a surprise! A lot of people had a lot to say on the topic – and it did provoke an extensive conversation.

Most people who answered decided to pick a side and go with either “Yes – it is impossible” or “No – it has been done before”.

Many questioned the definition of “success”, opining that success is dependent on the nature of business, the people involved, and their dedication to succeed despite all odds. Money definitely helps, but its not the most important factor..

Some shared stories like ZOHO, Mailchimp, Nike (who did not raise venture capital), and a few local entrepreneurs said they have succeeded with bootstrapping (but don’t recommend it, its painful!).

Some opined that even with money, startups can fail – and that is true. One point made questioned the involvement of the investor (not just the investment, read interference). But many mentioned the investor involvement brought other support, which was invaluable for scaling and growth.

Here is my opinion, in summary :

The answer to this question is nuanced – and, not simple. It IS possible to build a company, a successful one, without outside (read VC/Investor) cash. Though, for scaling and the speed needed today to entrench oneself, a deep pocket supporter seems essential. My personal peeve is the fact that a lot of (majority?) of startup founders seem to think that there is no startup without funding – that seems to be a resounding NO!

Would you like to be a part of the conversation? Go here and share your thoughts with my peers!