Cory Warfield – Generating Revenue Is Better Than Raising Capital

BIO: Tech founder, LinkedIn influencer, Metaverse architect, community builder, advisor and consultant to web3 and blockchain projects, philanthropist, and lover of dogs - it’s LinkedIn’s (beloved) “Crytpo Guy” Cory Warfield! STORY: Cory spent so much time and emotions trying to raise capital for his company instead of focusing on generating revenue from a product that was already selling. LEARNING: Focus on producing revenue, and investors will come knocking.   “If you ask for money, you get advice. But if you ask for advice, you get money.”Cory Warfield  Guest profileTech founder, LinkedIn influencer, Metaverse architect, community builder, advisor and consultant to web3 and blockchain projects, philanthropist, and lover of dogs - it’s LinkedIn’s (beloved) “Crytpo Guy” https://www.linkedin.com/in/corywarfield/ (Cory Warfield)! Worst investment everCory’s made his worst investment ever as a first-time founder trying to raise capital. Raising about $800,000 for his company caused the demise of the company. Cory spent so much time and emotion creating pitch decks trying to raise money. After he raised the capital, the funders came in and hired all sorts of unnecessary staff. They also scrapped Cory’s MVP, which was earning revenue, and instead spent a lot of money launching an inferior product. Cory believes that had he instead spent that time trying to find ways to increase revenue, the company could have raised that $800,000 quicker. The company would have had enough capital to scale the way he had wanted it to. Now Cory bootstraps every venture he’s part of. Lessons learnedThe best investment that an early-stage company can get is revenue. When you have customers putting their money into your product, you’ll have enough validation, and investors will throw money at you. In addition to revenue, building a community is even more important. And if you offer value to that community, you can monetize it. Andrew’s takeawaysFocus on sales and generating profit so that you can bootstrap your star