To do more for the world than the world does for you - that is success.
Henry FordRead
If you don't plan to dive in and dedicate all of your time to your startup, you probably shouldn't be looking for funding. It's hard enough asking for money when you believe in an idea; asking for money to fund something you're iffy about is ten times more strenuous.
Interpretation
Commitment is crucial for startup success and seeking funding.
This quote emphasizes the importance of being fully dedicated to your startup if you intend to seek funding. If you're not willing to invest your time and passion into your venture, it will be difficult to convince others to believe in it enough to invest their money, making the funding process even more challenging.
In practice
During a pitch meeting, when discussing your startup's potential.
To do more for the world than the world does for you - that is success.
I have met many entrepreneurs who have the passion and even the work ethic to succeed - but who are so obsessed with an idea that they don't see its obvious flaws. Think about that. If you can't even acknowledge your failures, how can you cut the rope and move on?
Thankfully I've been quite lucky in my career, but it's always good to re-evaluate things and think about what else you want to do.
When investing, pessimism is your friend, euphoria the enemy.
Success is a lot like a bright, white tuxedo. You feel terrific when you get it, but then you're desperately afraid of getting it dirty, of spoiling it in any way.
An investor needs to do very few things right as long as he or she avoids big mistakes.
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