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Ouch! Move to the Valley? I doubt it, and I voted with my feet over a decade ago when I moved Palo Alto Software to Eugene, OR. But Rob May’s insight on how getting funded is like dating is right on target. From The Irony of Raising Money for a Startup:
Raising money is really an odd process to go through, because everyone who has been through it tells you “this is the way it really is…” yet all of them finish that sentence differently. People tell you it’s about the team, not the idea. Then someone else tells you it’s about the idea first and the team second. People tell you to just make up your numbers because everyone knows you can’t predict the future anyway if you are doing something really new. Other people tell you that your numbers really do matter. I think it’s really like dating – finding someone who wants what you want is much better than trying to change someone who you like, but wants different things.
My advice to would-be entrepreneurs remains the same… move to the Valley.
The second to last sentence is golden.
Tim Berry is the founder and chairman of Palo Alto Software and Bplans.com. Follow him on Twitter @Timberry.
