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  • Writer's pictureThe NTWK

๐Ÿ’Š TheNTWKPill "What mistakes do founders at pre-seed and seed stages?โ€, by Carmen Rico

Carmen Rico, Angel Investor, and Founder of shared the mistakes which founders make at the pre-seed and seed stages. Watch the video to find the answer.

โ€Šโœ… The faster you test, learn and iterate the more chances you have to hit it.

โœ… Companies fail when the team grows, but founders aren't growing at the speed the business requires.

โœ… Companies fail because there was no market.

โœ… Founders're focusing too much on fundraising instead of building the business. They forget something that Carmen repeats to founders all the time: "You raise money to build a business. You do not build a business to raise money." So founders just love talking to investors all the time, instead of building. You raise money and then you have 18 to 24 months to build your business, which should be the best one, and then raise money again. You can keep relationships if you want, but in the end, people are gonna back you if you've made great progress and have great metrics. They're not going to back you just because you had coffee with them for 18 months.

โœ… Not being data-driven enough. If you have a hypothesis - test, learn, and iterate. You need to track metrics because you can't test and you can't learn without tracking. And founders that don't have a data-driven mindset and a data-driven organization struggle with the speed of learning and they don't know their growth levers.

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