How I Reverse Engineered A $100 Million Exit - Jason Lemkin
My First Million
On raising money
To build wealth in a short timeframe, it is advised to raise little to no money, especially if the goal is to make the first millions or have an exit between $10-50 million. Raising a couple million dollars can maintain optionality without losing control or dilution. It is recommended to raise one round of funding, ranging from half a million to two million, to hire key team members and accelerate the business. Going beyond $10 million in funding commits to a billion-dollar exit, setting high expectations and risks burning through cash quickly. It is vital to only raise large amounts if a billion-dollar exit is envisioned; otherwise, it is better to aim for a more manageable outcome with lower funding to maintain control and avoid excessive pressure from investors.
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