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7 Reasons Why Startup Funding Announcements Are Overratedby@joahspearman
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7 Reasons Why Startup Funding Announcements Are Overrated

by joahspearmanOctober 27th, 2016
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Maybe you <a href="http://www.bizjournals.com/austin/news/2016/10/26/localeur-ceo-plans-to-hire-more-developers-and.html" target="_blank">read about</a> Localeur’s recent funding or <a href="https://www.sec.gov/Archives/edgar/data/1688137/000168813716000001/xslFormDX01/primary_doc.xml" target="_blank">saw the SEC filing</a>.
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Maybe you read about Localeur’s recent funding or saw the SEC filing.

I didn’t want to publicize this. I didn’t send a press release or reach out to any members of the media with a sense of urgency to share this news. But we did the first close on our seed round, which has taken me forever to raise. Here is why I didn’t really care to share this “news”.

1. People think raising money is success rather than fulfilling your mission.

2. Too many cold emails and phone calls from software and technology sales reps.

3. Too many cold emails and phone calls from commercial real estate reps.

4. Funding announcements are the culmination of weeks and months or, in my case, years of hard work, and yet all the “buzz” and “momentum” happens in about 2–3 days which trivializes exactly how determined, tireless, persistent, patient, focused, and exhausted the founders/CEO were when it was happening.

5. I just want to get back to the real work of driving growth.

6. Just two months ago, I sold my car to cover payroll. Stuff like that never gets covered unless you write about it yourself on Medium.

7. No matter the publication, there are always slight inaccuracies or things you’d clarify but don’t have the time or energy to after spending months of your life on fundraising and wanting nothing more than to stop thinking about it and anything associated with it besides the critical operations of your business like identifying, interviewing and hiring team members.

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