Jennifer Fitzgerald, CEO and Co-Founder of PolicyGenius | Entrepreneur
Starting a company is a lot of things. It’s a humbling learning curve. It’s long hours. It’s trial-and-error and rejection and triumph.
It’s also one curveball after another, especially if you raise outside capital.
To borrow from Donald Rumsfeld — because raising capital can seem like a struggle — there are knowns and unknowns.
The known knowns of venture capital fundraising are table stakes — you must have a compelling product, some traction, a great team and buttoned up answers to questions about market size and the competitive landscape.
There are also the known unknowns you have to address — how big will you get? How fast will you get there?
But the unknown unknowns — those curveballs you face and didn’t prepare for — are good preparation for actually building a company, however absurd they might seem at the time.
My co-founder and I went through it raising our various funding rounds at PolicyGenius, but we knew we weren’t the only ones who had some funny moments in what can be a nerve-wracking process.
That’s why we reached out to some of our founder friends in the startup community and asked them — “What are some curveball questions you got from venture investors that prepared you to run your company?”
These anecdotes have a lot to say about what it’s like to live in the startup world. Ajay Kori — UrbanStems.