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Tuesday, August 19, 2008

Startup Fundraising According to Paul Graham

I like Ben's blog and he is always having good things to say. 

From the Instigator Blog by Ben Yoskovitz 

Paul Graham is well-known in the startup world for his past successes and most recently, the launch of Y Combinator. Y Combinator continues to garner a ton of attention, from a combination of the sheer volume in startups being launched through the program, the successful exits, and the way in which they’re shaking up the venture capital industry.

I’ma big fan of Y Combinator. I wish I could have gone through the experience. From the outside looking in, I see an insanely talented and dedicated group of people running the operation, who are working with a slew of bright, young, hungry entrepreneurs. I’ve met several Y Combinator folks and have been impressed with all of them.

I think Canada needs a similar model, although for a whole host of reasons, it can’t be quite the same. But that’s a topic of discussion for another time.

PaulGraham recently published his Fundraising Survival Guide, and I wanted to take a few moments to go through some of his key points and add my own thoughts and experiences to the mix.

  1. Fundraising is brutal.
  2. There are no secrets.
  3. Consulting is the only option you can count on. 
  4. Creates an us vs. them attitude.
  5. Keep working on your startup.
  6. Raising money for the first time alone is almost impossible.

Ben offered some great comments and also other insights as well that I did not duplcate here. If you are newbie to raising money take a look here.

Getting ready to offer a Duct Tape Marketing Product Launch kit.

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