Fundraising is often one of the top priorities of most entrepreneurs out there today. But should it be? At PulsoConf, Melanie Moore asked attendees to consider just that.
Moore, the founder of the now-defunct ToVieFor and Elizabeth & Clarke, opened her presentation with a few numbers. Only 1% of all companies will ever raise institutional funding, and of those companies, only 2% will experience an exit of over US$100 million. In other words, 0.02% of founders will have the spectacular success of startups like Instagram. A wake-up call, no doubt.
What was Moore’s message for entrepreneurs? Not do as I do, but instead, follow your own path. Don’t listen to investors or the press, but instead to yourself. Solve your own problem. Be the consumer. And don’t listen to the hype.