10 immortal lessons from laozi for startup fundraising
TRANSCRIPT
10ImmortalLessonsfromLaoziforStartupFundraising
Tytus Michalski,ManagingPartner§ CoverallareasatFrescoCapital§ 17yearscross-borderinvestmentexperience§ 2xentrepreneur, PMACapital&FrescoCapital
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FrescoCapitalOverview§ Earlystageglobalventurefund§ 3ManagingPartners,8teammembers,23ImpactPartners§ 48portfolio companies,500+co-investors
LaoziLesson1
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“Let movement go on, and the condition of rest
will gradually arise.”
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The best fundraising strategy is to ship what
customers want (not investors).
StartupTranslation
LaoziLesson2
5
“Constant action overcomes cold;
being still overcomes heat.”
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If nothing is happening, you need to act, but if you’re
too busy, slow down.
StartupTranslation
LaoziLesson3
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“The Tao produced One; One produced Two;
Two produced Three; Three produced All things.”
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Getting the first investorin a round is the hardest.
After three investors, you have momentum.
StartupTranslation
LaoziLesson4
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“If you keep feeling a point that has been sharpened,
the point cannot long preserve its sharpness.”
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Don’t overoptimize your fundraising tactics.
StartupTranslation
LaoziLesson5
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“The soft overcomes the hard; and the weak the strong.”
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To improve your fundraising, listen more and talk less.
StartupTranslation
LaoziLesson6
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“Those who know (the Tao) are not extensively learned;
the extensively learned do not know it.”
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Stay away from know-it-all investors, focus on those
who ask great questions.
StartupTranslation
LaoziLesson7
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“Sincere words are not fine; fine words are not sincere.”
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Straight feedbackis more useful than flattery
(in both directions).
StartupTranslation
LaoziLesson8
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“Governing a great state is like cooking small fish.”
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Don’t force the fundraising process, find flow.
StartupTranslation
LaoziLesson9
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“When gold and jade fill the hall, their possessor
cannot keep them safe.”
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Raising too much money can create more problems
than you expect.
StartupTranslation
LaoziLesson10
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“Words that are strictly true seem to be paradoxical.”
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All startup advice is context dependent.
StartupTranslation
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“Misery!—happinessistobefoundbyitsside!Happiness!—miserylurksbeneathit!”
- Laozi
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