It is a sad, but familiar, story in startup land. An entrepreneur raises a limited amount of funds, plows it entirely into building out their product, and has no gas left in the tank for driving users to the site once the product is complete. Then they go out hat-in-hand to the venture community looking for additional growth capital, without achieving the proof-of-concept required by the venture investors (in the form of initial user adoption). Hence, leaving them out-of-luck with the VCs and scratching their head, trying to work out how to raise sales and marketing monies to achieve their proof-of-concept.
Read the rest of this post in The Next Web, which I guest authored this week.
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