In these two conversations, David Chang and I discuss why entrepreneurs often resort to the “shotgun approach” when attempting to fund their startup.
David, the former chief operating officer of PayPal Media Network, is an entrepreneur and active angel investor with product, marketing and software development experience at venture-backed startups. He also recently accepted a position as an entrepreneur-in-residence at Harvard Business School.
As David indicated, there’s a big difference between getting “smart” money in your deal rather than “just” money. SmartMoney entrepreneurs know to look at investors differently, enabling them to reduce their fundraising time by 50%.
I describe how to find the right investors in the SmartMoney Playbook. It’s free, and you can grab it here.
In this next video, we continue the discussion. I share why the shotgun approach doesn’t work, even though entrepreneurs continue to try it. In the end they end up wasting everyone’s time