Why VC funding is OveratedJul 31, 2023
I’m gonna go ahead and take one wiiiiiiiild guess that you’ve started on your path to secure startup funding.
That it’s full steam ahead and all aboard the VC Express.
But what if I told you that only .05% of startups receive funding from venture capital?
Yeah, you read that right. Less than one percent.
I don’t share this with you today to scare you or to try to get you to give up on your dreams. I’m sharing this with you today to make sure you’re grounded in reality.
That going the VC route isn’t *the only* way to secure capital for your startup.
That thousands of companies are getting funded each and every day without crossing the threshold of a single venture capitalist firm.
The truth is that there are DOZENS of financing options out there and available to you, right this very second, that could be the creative solution to securing capital.
Did you know that you could find funding by…
- Approaching friends and family as angel investors or starting a crowdfunding campaign?
- Applying for a grant based on demographics like your gender, ethnicity, or sexual orientation?
- Accessing an angel network for funding that’s reserved *exclusively* for alumni of the university you attended?
…and that’s just to name a few.
We spend a LOT of time helping our entrepreneurs with this in our community Broadly Propelled: The Membership where we provide immediate access to resources (like video trainings, checklists, and spreadsheets) that will uncover more creative ways like this to find funding.
You can find plenty of free resources on BOD or research them yourself. Just don’t get de-railed with the delusion that your early-stage startup is ready for primetime.
Because the truth is that you don’t need to bother with wasting *literal* years of your life trying to secure VC funding when you could have other financing options available to you…right this very second.
I don’t know about you, but I’d rather go the faster and easier route. Wouldn’t you?