Opinion

August 2, 2019

Most founders think they need funding: they don't

Founders think they need funding — but what they really need is to build a product customers love.


Andy Ayim

5 min read

Andy Ayim

Over 80% of the startups that approach me for funding stumble at the same hurdle: traction. The majority of these founders are in the early stages of developing their idea, and think they need funding.

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Kauffman Foundation
Source: Access to Capital for Entrepreneurs: Removing Barriers
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Lean Canvas Leanstack
Source: Leanstack
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Andy Ayim

Andy Ayim MBE is an investor and founder of Angel Investing School. https://angelinvestingschool.com/

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