#61: How Raising Funds Changes a Business with Benn Stancil
Raising funds is something that entrepreneurs struggle with in many regards.
The first question we ask ourselves is, should I bootstrap to profit, or raise VC funding to grow at all costs?
Before you make that decision, you should listen to today’s episode with Benn Stancil, the founder and CEO of Mode.
After working at Yammer and going through their acquisition to Microsoft, Benn left and started Mode with a few co-workers in 2013.
To date, Mode has raised $80M USD, and Benn is going to share with us how raising money from investors changes yourself, your team, and your business.
Hopefully what you hear today will better inform you on if you should raise capital, and if you do, how to do it wisely.
So thanks to Benn for joining us, and I hope you enjoy this episode.
Let’s give a warm welcome to Benn!
We talked about:
– What was the toughest round to raise?
– What are things people should prepare for?
– What was the easiest thing about raising?
– How long does the average round take to raise?
– How to tell if an investor is right for you?
– People say taking investment is like marriage, do you ever feel stuck with them?
– What has been the largest change in yourself? Your team? Your business?
– Does having investors on a board of directors help or hinder progress?
And remember, Entrepreneurship is a Marathon, not a Sprint, so take care of yourself every day, so that you can live and love, and have the energy and the passion to run your business, and to invest in your team, and to find a way to appreciate those moments of happiness.