Getting your Seed funding is a huge win. But as soon as your funds hit your account, you and your team on the clock. You have only so much runway to either get to demonstrate the traction you need for your Series A or a sustainable business run rate.
Every month of runway in Seed Stage is precious. Even more so in the current environment where money is tighter and VC's are being MUCH more selective with funding and valuations.
Business is always challenging. But for a Seed Stage Founding team, the need to extend runway has never been greater.What really hurts is avoidable mistakes that dent your runway and blunt your momentum.
A single mis-hire can easily cost $150k in shortened runway and lost momentum. Ouch. As a Founder, I made a lot of costly mistakes.
As a Founder coach, I see a lot of Seed Stage Founding teams make similar mistakes.
Sometimes in life and business, our best chance of success is just about avoiding as many of the most avoidable mistakes as we can. (While giving ourselves grace knowing that mistakes are inevitable when doing something new).
In this week's Rocket Ship Founder episode, I talk about how to save at least $150k of runway simply by avoiding common Seed Stage pitfalls. I cover:
This 14-minute listen is the advice I wish someone had given me as a Seed Stage Founder.