Down But Not Out - and a VC P.S.

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Surviving VC HardTimes

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
Down but not out (August 29, 2001)
Down but not out, part 2 (September 5, 2001)

(Thanks to Alex Eckelberry at Bulldog Capital Partners for letting us know about this.)
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