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- ♞ Are you building a SVSB?
Are you building a SVSB?
Recently there has been a growing trend of businesses that look like venture backable tech companies (or might even have been 10 years ago) but instead are operating with the same principles as a solopreneur or small business.
These businesses are now being referred to as Silicon Valley Small Businesses. Today I want to discuss this type of business because I see many of them trying to raise VC when they aren’t venture backable. Let’s talk about the differences and why you need to be aware of them.
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Just because you have Silicon Valley ambition doesn’t mean you are venture-backable. To be venture-backable, you need to be ready to accept rocket fuel and quickly scale a business from 1 to 100.
If you are growing with bootstrapped principals you likely aren’t venture backable. Bootstrapped principals mean that you are prioritizing profits over growth.
Things that make you think you are venture-backable that SVSBs have in common with VC-backed companies:
Strong tech-focused founding teams
Ship and iterate mentality
Small quick moving companies
If you are starting one of these companies, your focus should be on getting a $1M-$100M+ exit while owning as much of the company as possible. NOT giving away part of your company to VCs.
Are you building a SVSB? |
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