Fundraising can be a tricky business, with many factors influencing the outcome. Avoid these funding myths and make sure you have the information and strategies you need to keep your company thriving.
Myth: Funding is synonomous with success.
Reality: Not every successful company seeks funds and not every company that does becomes successful in the long term. Don’t look for outside dollars because you think it’s impressive or could get you press attention. Funds from VCs or angel investors often come with management strings and pressure to perform. Ask yourself if you need money at all and if you’ve exhausted bootstrapping, loans from banks, friends or family, or even funding through revenue.