when not to raise money May 4, 2007Posted by Timothy Li in Entrepreneurship, Venture Capital.
I had a chat with person A from a local VC firm two weeks ago regarding my B-mote project. I received the following comments towards the end of the chat:
“Do not raise money right now, even if you manage to raise money, you will waste it”
“Before you do anything else, go to your customers directly and pitch them. when they want your product and you need money to make it, that’s when you raise money”
What person A said made a lot of sense. lesson learned.