Fundraising has been an eye opener! Things are seemingly coming together all at once and rightly so for SocialURL. We've been growing our community organically and in need of funding to scale to the next level.
Now that the value of the company is starting to take shape the issues around advisors, investors and people who want a piece of the pie are starting to become interesting. A few questions I am faced with currently include: Is Angel investment better than VC? Which law firm is best to engage with Wilson Sonsini, Fenwick & West or DLA Piper? What are your core team's strength and weaknesses? What can you do for work to pay the bills while you wait to get funded?
Some of the lessons in the trenches:
Beware of the sales tactics "BUT": Your startup is awesome "BUT" here are your weaknesses and this is why you need me and I don't come cheap.
Check your own eagerness: In starting up it is often very difficult to separate yourself from the business and doing what is best for the business is often blurry when money is involved.
Friends and Business: When the business is out in the open it will be equally difficult to discern who are your friends because in reality you and your partners are the closest thing to being friends and even then being business partners is just that- its business.
Everything really happens in San Fransisco...if you have a startup- get yourself as frequently as you can up there or move there if you can...
