email #7 — Here Is The Newsletter I Deleted — But I’m Sending It Anyway
Hi, I wrote this a few days ago and was about to send it. Then I spent the night on it and thought I should not send it. I thought about what people might think reading it. It’s about raising funding. I am basically writing “okay I did not want to raise funding but many friends want to invest so I will do it”. When I decided to not hit the send button I thought it might make me look like I’m full of myself here.
But then I thought about what I want this newsletter to be. It is what I tell my close friends about my progress. As if we just met to catchup and we know each other well.
I’m writing the book of my new adventure one weekly email at a time. It’s what’s happening right now. Forget what people might think.
So here it is, it’s what I would tell you if we met today.
“Can I invest $50k?”
My new startup Leade.rs runs on a very low budget so far and I was planning to just finance it myself for a while.
As you know, I have been very open about what I am building and the concept of a speakers to events marketplace. I seek advice from friends and also validation. They tell me if they think it’s a good idea or not.
In the last two weeks some of my friends asked me if they could invest in the first round. I wasn’t even planning to do a round anytime soon and did not ask for money, just advice. It feels amazing when those friends want to invest. It’s a vote of confidence.
I want to think about the negatives, too. They can lose their money, it’s highly risky. How will I feel if that happens? Fortunately most of them are experimented business angels and they are aware of that. I am a business angel, too, and losing your investment often is part of the game. As long as you have a few that work well, it’s all good.
Getting your friends money into your business is a great way to create a strong connection with them. You already like each other as a friend so why would you need another strong connection? Being in business together gives you a reason to talk often about how things are going. You call each other more often because you seek advice. It’s just an excuse to build something cool together. It’s not like working together, but close.
Advice and connections are always what matters most. I already got incredible advice on Leade.rs. I will do a small round early just to get an excuse to call those friends for advice and build it with them. It’s very few friends that I know well and I know will spend some time helping me.
I feel very fortunate to have such amazing friends willing to bet on me. In the meantime, we’re working on building the site and getting the first speakers featured.
Oh and yes, the web app is progressing well. We have a first batch of speakers being loaded this week and it has been moved to Amazon Web Services so I can play with it. It’s far from ready for anyone to see, but it’s a great milestone. Talk to you all soon!
Here are a few posts I wrote since my last email to you: