99% of VCs invest in #startups with full-time founders.
VCs back smart and earnest founders. But VCs invest in founders who believe in their idea and are willing to risk their careers. Early-stage investing is all about backing founders. Investors expect #founders to build a big and successful company.
If you don’t have enough conviction to back yourself by quitting your job and putting your career online, how do you expect VCs to back you?
If you can’t quit your job for whatever reason, be honest about your chances of raising #venturecapital. Work on your idea on the side and build your MVP. It’ll take longer, but you’ll do it if you believe in your idea and vision. Launch your MVP and try to find your first customers. Once you’ve enough market validation, quit your job and then approach an investor.
Build conviction, quit your job, invest in your career, and then ask VCs for capital.
Don’t say I’ll quit my job and join my business full-time once I raise capital. You’ll be disappointed because 99% of investors won’t back you. It is your business, and it needs your undivided attention.
Finally, focus on building one product. VCs back founders who give their 100% on one product, not those who work on multiple ideas.
It’s difficult to build one world-class product. No one can build and scale multiple high-growth businesses simultaneously. Don’t spread yourself too thin or hedge your bets. Do one thing, and do it well.