How has VC funding changed over the years?

This would be a two-day conversation in itself; instead, let’s focus on some things that might impact you as you are looking for funding.

For most entrepreneurs, the fist money in the business will be their own money. While that might not give entrepreneurs a long runway, entrepreneurs should always have their skin in the game and think of every dollar they raise as if spending each dollar of that money would be the same if they were spending their own personal savings.

Personal capital is rarely enough to grow a company and often not enough to even get to the first round of funding. Each funding round has expectations as to where the company should be milestones wise before investors are interested.

The next capital usually comes from Friends, Family, and Fools (FFF). People who believe that you will figure it out, despite not having a proven go-to the market strategy, a product, a team that will get you there, revenue, or many other factors that will either make or break your company.

Angels might step up as the next frontier of financing your company. A lot of angels now act as if they are Venture Capitalist requiring a long list of requirements and having extensive due diligence. While it might not be a bad thing to discover where your weaknesses are, relying on them to invest in, you might…