I spoke to a former founder today who raised $2 million for his startup when it was just an idea.That's the holy grail for startup founders, right?Wrong.Founders think that raising money solves all of their problems, but like Scott said, "All that does is buy you time, and then you're running against the clock."Scott had money, a co-founder, and a good team.But what he said was missing was someone in his ear telling him all of the things that a founder needs to hear.He felt alone with no one to talk to who understood him, and he lost confidence.You can't buy confidence but you always need to have as much confidence as the day that you raised the money. Otherwise, it's like flying a plane when you shouldn't be flying.Scott said, "Your confidence needs to be refreshed. It goes bad and then every decision after that is f*cked, and VC money cannot buy confidence."
What do you think?