Founders, Let’s Talk: Not Just the Ones Raising Money, but Those Struggling Too
In this startup life, everywhere you turn, you go hear the same stories:
“This startup raised one million dollars.”
“That startup raised five million and still shut down.”
“Another one just raised seed, pre-seed, series A, B, C…”
Na so so funding gist we dey hear. But make we pause small.
Founders wey never raise anything nko?
Founders wey don pitch tire, dem no gree see money?
Founders wey dey struggle every day, still dey build?
How una dey?
Today, I wan talk to you, the founder wey no get funding story to post for LinkedIn.
I wan talk to you, the person wey dey ask:
“Shey I no sabi pitch? Abi my idea no good? Abi VC no just wan hear me out?”
Let’s stop focusing only on the ones wey raise millions and then burn am finish. Make we also talk about the people wey still dey grind every day, looking for the first cheque, trying to find their first believers.
The Startup Hype: Why We Need to Change the Conversation
Let’s be honest.
The startup world don turn to funding competition.
Once you go LinkedIn, na funding announcement full everywhere:
👉“We closed a $3.5 million pre-seed.”
👉“Our $10 million Series A will change Africa.”
Sometimes, e go be like say, if you never raise, you never start anything.
But that one no be true at all.
Make we reason am.
Some of the startups wey raise big money last year, where dem dey now?
Most of them don burn the money, lay off staff, close shop go house.
Meanwhile, the founder wey dey quietly build with their small team, no noise, no big funding announcement, dem dey survive. Dem dey build resilience.
Founders We Never Hear From
I dey ask today:
Founders wey never raise, how una dey?
What are you hearing from VCs?
What feedback are they giving you?
Because this startup journey no easy.
Sometimes you go think say you get the best idea, but investor go still tell you “We are not ready to invest at this time.”
Or “Come back when you get traction.”
Some go even ghost you.
You go send deck, send follow-up, e go be like say the person don vanish.
Omo, na hustle O.
But make I ask you:
💓Have you sat down to really check your startup again?💓Is the solution you dey build really solving a big problem?
💓Are you building something people go pay for, or na just nice-to-have?
💓Do you need to pivot? Adjust the business model? Add something? Remove something?
These are hard questions, but if you no ask yourself now, na later you go pay the price, chairman.
What Are VCs Telling You?
Let’s hear the real gist.
When you pitch to VCs, wetin dem dey tell you?
👊“We are not investing in this sector right now.”
👊“Your numbers no dey convincing.”
👊“Come back when you have revenue.”
👊“We don’t think your team is complete.”
These are the common responses.
Sometimes dem go tell you straight, other times dem go package the ‘NO’well, some go even ghost you.
E dey pain, but sometimes na feedback we fit use.
Make we no just vex, throway laptop, or delete pitch deck.
Make we sit down look the feedback well.
Ask yourself:
❤Can I make my pitch better?❤Am I targeting the right investors?
❤Am I building what people need or what I like?
Let’s Talk About the Struggle
Make we dey real with ourselves.
This startup life no easy.
Forget the packaging, forget the photo shoot for co-working space.
Building a startup with no funding na war.
You dey:
💓Manage small small team wey dey believe in the dream
💓Use sweat and sacrifice because you no fit pay big salaries
💓Look for users every day, like you call call people every minute
💓Run marketing by yourself
💓Reply customer emails
💓Code or design by yourself
💓Still dey pitch to investors
Na serious hustle O my Bro.
But guess what?
Many successful companies start like this.
Check Your Solution Again
Sometimes we founders dey fall in love with our idea too much.
We go believe say the solution na the best thing as we believe for jollof rice.
But the market no dey care about our emotions.
If your solution no dey solve any real problem, people no go pay.
So I dey ask you:
❤Are you building something people want?❤Have you talked to enough users?
❤Do you understand the pain of the people you wan help?
Sometimes, small tweak fit change everything.
Maybe the way you dey sell the idea no clear.
Maybe the way you dey explain am too complicated.
Maybe you dey use big grammar wey no necessary.
As Nigerians, we like things wey simple.
“Show me how this thing go help me save money, make money, or reduce stress.”
If you no fit explain your startup like that, bros/sis, na problem be that O.
Are You Targeting the Right Investors?
This one dey important too.
Sometimes no be say your startup no good, but you dey pitch to the wrong investors.
Not every VC go invest in your kind of startup.
Some dey look for:
💕Fintech💕Healthtech
💕Agritech
💕SaaS
If your startup na logistics or education or real estate, you no suppose dey waste time pitching to investor wey only dey fund fintech.
Do your homework.
Find the investors wey dey look for startups like your own.
Can You Bootstrap?
Before you go kill yourself because you never raise funds, ask yourself:
Can I run this thing small small without VC money?
Many businesses wey dey successful today started small.
If you fit:
👍Charge customers early👍Use the money you make to grow the business
👍Keep your costs low
👍Build product gradually
…you fit run things without waiting for VC.
E no easy, but sometimes, bootstrapping dey teach you discipline wey VC money no fit teach you.
When you dey manage your own money, you go:
👉Cut unnecessary expenses👉Focus on customers
👉Build real value, not just packaging
Is It Time to Pivot?
Make we talk true.
Sometimes, the reason why you no fit raise money na because your idea don expire.
Market don change.
People don move on from that problem.
Or competition don choke.
So you suppose ask:
“Is this the right time for my solution?”
If the answer no clear, maybe you need to pivot.
Pivot no mean say you fail.
E just mean say you get sense to adjust when things no dey work.
Let’s Hear from Founders Struggling to Raise
Enough of only hearing from the ‘success stories’.
Make we also hear from the people wey dey struggle to raise funds.
❤What lessons have you learnt?
❤How are you surviving?
❤How are you building despite the ‘NOs’?
If you share your story, another founder fit learn from you.
Another person fit hear your experience and realize say dem no dey alone.
Let’s Normalize Building Slowly
For this Naija startup space, we too like speed.
Everybody wan blow overnight.
Everybody wan do "unicorn" in 2 years.
But make we calm down.
Building real business na marathon, no be sprint.
If you dey build small small:
👊Get early customers👊Improve product
👊Build community
👊Learn from feedback
👊Adjust when necessary
Na so real business dey grow.
Keep Building, No Give Up
My fellow founders, this startup life na serious hustle O.
VC money no go reach everybody, and e no mean say your idea bad.
Sometimes you go need:
💓Patience💓Persistence
💓Small pivot
💓Better storytelling
💓Understanding of your market
But one thing dey sure:
If you no give up, you go still find your own breakthrough.
So, founders wey never raise, no shame.
Keep building, keep learning, keep improving.
And when you figure out wetin dey wrong, share with the community.
Let other founders learn from your journey too.
Because no be only people wey raise millions get story to tell.
People wey dey grind quietly, una story dey important too.
www.grinapay.com
David Olumati Nwanguma
Founder, GrinaPay
www.grinapay.com
info@grinapay.com
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