Yesterday I [ wrote a post about how much capital your startup should raise.
In that post I was talking about how it is a bad strategy to be underfunded. In general when capital is available take it (provided it’s on the right conditions and from the best people from whom you can raise). It’s also bad to raise too much, too early. If you’re interested in that topic I cover it in the article linked previously.
I made a diversion in the article that I shouldn’t have taken. I talked about the Silicon Valley memo that has been circulated for the past couple of years that says you should “fail fast.” What I said was:
“I’ve even heard people repeat this bullsh*t Silicon Valley mantra about “failing fast” which is horse puckey. The line goes like this, “well at least you know early that your business isn’t going to work and you didn’t have to waste 2 years and $1 million trying to bang your head against a wall.” That is so self centered it winds me up. Tell that to the person who wrote you the $50,000 of their hard earned money and entrusted you to try your best. Fail fast? How does your brother-in-law feel about that?
To read the full, original article click on this link: Why The ‘Fail Fast’ Mantra Needs to Fail
Author:
