To VC or not to VC,
That is the question. And I try to answer it.
To VC or not to VC.
Episode 86 of The Op-Ed Page with Elisa Camahort Page podcast is live and was inspired by a Twitter conversation I had with Kimberly Bryant (founder of Black Girls Code, forever-inspiration, currently an investor).
Only a day after that conversation, I met with an entrepreneur, and the same topic came up. I have been saying for a long time that I think the vast majority of start-up founders are not served by thinking their first step should be to raise VC funding. They are not served by thinking that raising that kind of funding is some badge of honor or gives them credibility they can get no other way. I’ve done many a presentation on the psychology of money, who gets it, who gives it and why, alternate routes to capital, and even the benefits of running a “lifestyle business”…said with love and admiration, not a sneer.
If you’ve got a big idea, an early start-up, or a small business you want to scale, it may be helpful to listen and consider the following questions:
Where is your network strong, and is raising VC funding playing to your strength?
How much money do you need to get to a point where you can show tangible customer traction? Not PR traction, not industry traction, but actual beta customer traction? What are the alternate routes to get that amount of funding?
Who do you want to be beholden to? And with what expectations? Banks, customers, investors, friends & family, crowdfunding investors or donors… because wherever you get dollars, expectations and responsibilities come with it.
What do you want your life to look like in a year, two years, five years? And does your ideal timeline and pace match up with your funding sources?
What do you expect to come with raising funding…if any of your expectations are wrapped up in intangible external emotional benefits (e.g.. validation, pride, encouragement to keep going) sit with that for a while and try to separate what you need from what would be nice to feel.
More thoughts around those and other questions are in Episode 86, so I hope you’ll check it out…and let me know if it’s helpful to you.
What else is going on?
So many people I know are doing, releasing, and launching cool things. Here are a few to check out:
Funding campaigns (for-profit and non-profit):
GOLD Comedy on IFundWomen.
GOLD Comedy is a creative community of women who want to expand representation in comedy (or just learn how to integrate humor into their leadership approach). Led by my friend Lynn Harris, the rewards for this campaign are amazing. I may go back and donate more so that I can have the one and only Bridgett Everett (of Somebody Somewhere fame) record a birthday message for my s.o.
The Cru on Republic
As an advisor to The Cru, you know I’m all bought in on their mission of advancing women in the workplace and especially supporting “women in the middle,” meaning women who are at a key point in their careers where they can get stuck or keep moving forward! This is a crowd equity fundraising campaign, so you’re not donating; you’re investing.
Pilates for Abortion Funds
This is one of my favorite things. By donating to the National Network of Abortion Funds through this fundraising pilates instructor, I get a free virtual pilates class. You can do it one time only, or as I did, you can set up a recurring monthly donation, forward them the receipt, and get that monthly class set up. Just a reminder, while I’m a donor to national orgs too, particularly the Center for Reproductive Rights, there is a huge need for funding at the local level to help women in need of abortion care get it working with local resources and contacts. That’s what this National Network facilitates and funds. You can help.
Kids & Art 15th anniversary celebration and fundraiser
15 years ago, the designer of the original BlogHer logo, Purvi Shah, lived the unimaginable and lost her son Amaey to cancer. Out of her grief, grace was born in the form of her non-profit, Kids & Art. She brings the healing work of creating art to kids and their caregivers. Check it out.
On the other hand, I’m not recommending investing in this platform right here, Substack. And here’s why. (And if you’re not familiar with the Today in Tabs newsletter, well, you’re welcome.) Maybe I’ll have more to say about this another time, maybe not.
And more of those cool things, like New Books coming out:
Tales of Potential: The Cinderella Story You Haven’t Heard by Joanna Bloor:
Joanna is the subject of Episode 85 of The Op-Ed Page with Elisa Camahort Page podcast, and she will make you re-think way more than just the Cinderella fairy tale. It’s all about Future You and how to make sure people not only know you’re awesome but talk about it in the right rooms.
The Anxious Achiever: Turn Your Biggest Fears Into Your Leadership Superpower by Morra Aarons-Mele
Episode 87 of the podcast will be my conversation with Morra, who I’ve known and admired for nearly 20 years. She is leading a new conversation in and around leadership and the workplace, creating space that didn’t exist for those of us who experience mental health issues. This isn’t Wellbeing-Washing; this is the real-est of deals.
The Portfolio Life: Future-Proof Your Career and Live a Life Worthy of You by Christina Wallace
Christina is going to star in Episode 88 of the podcast! (I’m on a roll with getting these smart, accomplished, and life-changing women to talk to me, right?) I have long said that I had a “portfolio career,” and Christina has all the good stuff on what a Portfolio *life* is, why you want it, and how to get it.
Minimalista/Organized Living by Shira Gill
Shira’s books are #goals for me. Her new book coming out this fall synthesizes not only her own experience and expertise, but learns from and leans on advice from dozens of other organizing experts, focused on tricks, tips, hacks, and hints they use in their homes and lives.
The Lit Lovers series by Ciara Blume
Ciara is a blogging OG who is now the author of an entire series of fun, nay delightful, rom-com novels. These are not bodice-rippers a la the Bridgerton Series, although they do get spicy. (Far fewer references to the “hilt” IYKYK.) But they do feature recurring characters, where each novel focuses on a different member of a set of friends and colleagues. Those friends and colleagues are into things I’m into…like podcasting and social media, shelter pets, theatre nerdery, and more. That only adds to the fun.
TikTok #3Minute Videos:
I continue my video series on TikTok, with more book reviews, but also, I decided to share my best #3MinuteBookAdvice about the one piece of advice i found most useful when my book launched. I got it from my best-selling author friend, Phillip Done and have shared the advice one on one many times, but decided to scale it up. Check it out:
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Whew, I had a lot to say today. Until next time, please leave a comment and let me know your thoughts on any or all of the above. This is basically my blog now! And as always, I appreciate a share of this newsletter or my podcast.
If I can help you break through the things that are keeping you stuck (including whether or not to seek VC funding), set up your first introductory 30-minute consult for free by booking it in my Calendly. And you can always check out my new LinkedIn Learning Course, Telling Stories That Stick, a 57-minute course on crafting your stories for different audiences (media, investors, prospects, hiring managers) and making sure those stories stick…and convey exactly what you hope to convey.