Raise less, build more
In observing 100s of deals, advisor to dozens of early stage businesses I'd add:So many folk show up asking to raise because they only see how their company can work "at scale". They have forgotten to do things that don't scale. It's like they skip problem-market fit, jump way past MVP (but still call it that) and almost have to raise - then try to force the market to exist.Many (most?) of these companies I've seen could have started with a smaller fit. That could test the market theory for cheap (Lean) - cheap in terms of time and money.  If the fit is good one ends up with a small business with medium good margin - and a way better idea of what the scaled up universe looks like.Much easier to raise when you've got a) solid foundation and b) actual unit economics. However, now the raise is on real numbers - so less likely to be the crazy raise one could do on dreams alone.Like, do you want a 0.01% chance to raise money or a 2% chance to build a business that keeps you and a few others well paid and perhaps out of the rat-race.