One of the great podcasts I find myself migrating back to is a series called “Entrepeneurial Thought Leaders” from Stanford University. They have some great guests, powerhouses in all corners of all industries that have awesome insights and advice.
The other day I found myself listening to an interview with Peter Diamandis, founder of the X PRIZE Foundation. As he was talking about starting the foundation and raising money for his new venture and the struggles he went through. In his talk he made some excellent points that I thought applied to all startups and those out there trying to make a difference. He relayed a great quote:
When you ask money you may get advice, and if you ask for advice you may get money.
He followed this by saying that patience is a key and that when investors invest money in you, they are transfering confidence to you along wth the money. So take time to build that rapport/relationship and the confidence level. Fundraising should almost be
secondary to getting groups of good people involved
I know that many times, time is not a luxury many startups can afford in raising capital in order to further their dream. But as you are building up to that dream keep these thoughts in mind and you may be surprised how quickly the money may follow.
