Seed founders - can you last for 1,000 days?
Top job is never run out of money. Here are your choices:
1) Make a lot of revenue from customers at an ever-increasing pace
2) Reduce your burn
3) Raise money from external sources (not just VC, but often VC)
If you choose route 2...
You raise from seed VCs. Median raised is $3.5M-$4M at this point.
You then need to make that money last...how long?
It used to be standard advice that you'll raise primary funding rounds every 18-24 months. Often standard advice is wrong, but this specific line was pretty right!
But it's getting stale. The median time to Series A from Seed is now right at 2 years, but the trend is clearly headed longer.
So you gotta plan for worst-case. Maybe a decent benchmark right now is 1,000 days.
And don't plan on getting bridge financings. Hearing more and more founders these days sort of assume that the VCs will fund bridges if they need it and this is a 𝗿𝗶𝘀𝗸𝘆 assumption.
Don't run out of money --> stay in the game --> win, eventually.
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