The Get Sh!t Done Podcast teaches entrepreneurs how to gain traction and successfully grow businesses that scale generational impact. Access the stories and steps taken by badass entrepreneurs who have successfully scaled $1M+ businesses. You’ll learn what they did to grow and how they did it so you… read more
“We raised our seed round of $2.8M in 2 1/2 weeks”
Sounds sexy, right?
One of the saddest things I see from some founders is an excessive focus on fundraising as their “saving grace”. Yet, they have no traction or lack a clear path forward to generate traction.
Many founders are wasting their time finding investors because A. They haven't de-risked the investment through traction or B. They aren't VC-backable.
Even the best founders and teams fail but they had traction where investors were willing to take the risk like Shruti Shah.
-Her company was generating $30K MRR when they raised a seed of $2.8M in 2.5 weeks.
-A Chinese billionaire CAME TO HER to offer $11M for Series A.
-She went through YC.
Did checks guarantee success? Nope.
Shruti spills the tea and more importantly her lessons from scaling and failing:
-Dangers of growth for growth's sake.
-Pivoting away from the original model to raise more capital that decreased revenue nearly 7X.
-What led to growing a team 3X & laying off 1/2 a month later.
-Why she’s creating a founder-friendly fund around alternative financing.
About Shruti Shah
She is an advisor, investor, consultant, and coach who works closely with early-stage startup founders as they work to scale their businesses. She's in the process of launching a new fund that has developed a new model to fund startups. She was most recently an Entrepreneur in Residence at Silicon Valley Bank where she worked with the early-stage practice team on strategic partnerships. She was previously the co-founder and COO of Y Combinator-backed Move Loot, an online full-service marketplace for buying and selling used furniture, where she led the national expansion and general business operations. Over the course of three years, she and her co-founding team raised $22 million dollars to scale the business across the United States. Move Loot was featured in numerous publications including Forbes, TechCrunch, Bloomberg Business Week, CNN, TIME, Fortune, and more.
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