“What is your Plan B”, I asked one founder.
He said we will raise our next round funding as our growth rate is great.
Other than that he did not have right plan at that time.
He is good at what he does. I admire and like him. He thought that he had plan B ,But he did not really have one. I thought he would figure out some thing if he can’t raise funding. Eventually his startup went downhill because he could not raise funds.
In fact it happens not only for him, For many other founders including me.
As founders we think we have plan B. We don’t spend so much time as we spend on plan A
In reality we don’t have really strong one which is almost powerful as plan A.
While it is important to be positive , At the same time one has to question the following
What if I don’t raise next round ?.
How can I keep my startup running?
So spend some time to create a strong plan B .In the other hand you put efforts in raising funds
Otherwise all your efforts for years and your savings invested along with investors will go vain
You did not start your startup to come this far ie fail due to the fact that you could not raise funding isn’t it