I just left the Clinical Entrepreneur Pit Stop Event, ran by NHS Innovation (I’ll do a full write up soon!), but it was incredibly useful getting feedback from seasoned entrepreneurs and pioneers as usual.
This pit stop talked a lot about how to fund raise from VCs, Angels as well as creating partnerships with different organisations.
I think entrepreneurship is all about walking a path that hasn’t been walked before. Walking an un-walked path unlocks value that hasn’t been released before. It was interesting to hear how fundraising is one of those things that you just can’t innovate on though! You just have to play things by the book and put in a lot of due diligence.
I think that examining things and questioning things is important.
Often people will perceive that running a successful company means getting Angel investing, followed by VC funding. Often people feel that to be successful you have to fund-raise.
But what actually makes an entrepreneur successful? Can we dissect the actions of really successful entrepreneurs and figure out what they were trying to say with their advice around fundraising.
When looking at the successful entrepreneurs, they all had something in common: they made something that the market really wanted!
The fundraising came as a result of having created something that was needed!
When getting ready for bed, people brush their teeth, get into their pyjamas, turn the light off, lie on a soft surface of some kind, turn the lights off and then shut their eyes. Actually the only two things you need to do to get to sleep is lie down (or sit) and shut your eyes. Everything else is superfluous to what you need to do.
I think startups and businesses are the same. Fundraising isn’t a must, creating something the market wants is. The rest of the actions are just following the motions.