10 Immortal Lessons from Laozi for Startup Fundraising

10ImmortalLessonsfromLaoziforStartupFundraising

Tytus Michalski,ManagingPartner§ CoverallareasatFrescoCapital§ 17yearscross-borderinvestmentexperience§ 2xentrepreneur, PMACapital&FrescoCapital

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FrescoCapitalOverview§ Earlystageglobalventurefund§ 3ManagingPartners,8teammembers,23ImpactPartners§ 48portfolio companies,500+co-investors

LaoziLesson1

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“Let movement go on, and the condition of rest

will gradually arise.”

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The best fundraising strategy is to ship what

customers want (not investors).

StartupTranslation

LaoziLesson2

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“Constant action overcomes cold;

being still overcomes heat.”

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If nothing is happening, you need to act, but if you’re

too busy, slow down.

StartupTranslation

LaoziLesson3

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“The Tao produced One; One produced Two;

Two produced Three; Three produced All things.”

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Getting the first investorin a round is the hardest.

After three investors, you have momentum.

StartupTranslation

LaoziLesson4

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“If you keep feeling a point that has been sharpened,

the point cannot long preserve its sharpness.”

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Don’t overoptimize your fundraising tactics.

StartupTranslation

LaoziLesson5

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“The soft overcomes the hard; and the weak the strong.”

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To improve your fundraising, listen more and talk less.

StartupTranslation

LaoziLesson6

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“Those who know (the Tao) are not extensively learned;

the extensively learned do not know it.”

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Stay away from know-it-all investors, focus on those

who ask great questions.

StartupTranslation

LaoziLesson7

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“Sincere words are not fine; fine words are not sincere.”

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Straight feedbackis more useful than flattery

(in both directions).

StartupTranslation

LaoziLesson8

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“Governing a great state is like cooking small fish.”

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Don’t force the fundraising process, find flow.

StartupTranslation

LaoziLesson9

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“When gold and jade fill the hall, their possessor

cannot keep them safe.”

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Raising too much money can create more problems

than you expect.

StartupTranslation

LaoziLesson10

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“Words that are strictly true seem to be paradoxical.”

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All startup advice is context dependent.

StartupTranslation

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“Misery!—happinessistobefoundbyitsside!Happiness!—miserylurksbeneathit!”

- Laozi

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