|TechTransform, September 5, 2001: When Red Herring published an excellent set of guidelines to managing down rounds and other horrors, they also linked their May article in which Mayfield general partner David Ladd gave advice to struggling entrepreneurs in these tough times.
Read the whole article here, but here are his four key points:
If you're really an entrepreneur, you don't give up. You just keep scrambling.
Don't worry about dilution.
Raise more money than you think you need.
As the business grows, make sure you have the right people for the next phase of the job.
The Red Herring Guidelines