If You Don’t Know How Much You Need the Default is Always “More”

“What’s your end game?”, I asked

This particular founder had just raised a mid eight figure round of funding. And, after hearing about struggles with their board, struggles with the new investors and watching their ownership drop from mid double digit percentages to high single digits I couldn’t help but wonder.

What’s your end game?

Seemingly surprised, the founder shot back that this round was a step towards the next nine figure round and another brick in a world domination strategy to upend a market longing to be disrupted.

But is that really what they wanted or is that what investors wanted to hear? Upon reflection, this founder acknowledged that they would likely be replaced or leave by the next round.

A disruptor disrupted.

We see this all the time with startups and fundraising.

How much do you want to raise? $2M.

How much do you really need to raise?

That’s a much harder question. It requires far more introspection than many are willing to give it. For most, they think it is about the dollar amount. But it’s never really about the dollar amount.

Why do you want to raise $2M?

Because that’s what investors and other founders tell you you have to ask for in order to get the right people around the table. Any more and you’re too greedy w/o enough proof points. Any less and you’re not ambitious enough.

So, we default to wanting more.

More money. More market share. More mindshare. More press. More users. More data. More employees. More of the dream.

Without a clear idea of what we need, the answer will always be more.

What we need to be satisfied, to make our mark may not be what others want to hear. May not be what investors want to fund. May not attract an army of employees.

Not everyone needs to upend an industry. Not everyone needs to raise nine figures of funding. Not everyone needs to own single digit percentages of their business.

But, if you don’t know what you DO need, the default will always be more.