My Startup Just Can’t Get Funding, What’s My Plan B
The reality is, the vast majority of startups don’t get funded, so don’t feel bad.
According to Fundable.com, 565,000 startups are launched each month in the US. These startups raised more than $531 billion per year but only 4.1% of the funding is from venture capital (VC) and 3.8% from angels. The rest got their money from savings, friends & family, bank loans or crowdfunding.
Even if you got funded by a VC, your odds of failure is still higher than success. According to CB Insights, 48% of startups fail to secure funding beyond the seed round and 67% eventually stall at some point and fail to exit or raise follow-on funding.
Here are some practical tips from personal experience on what your Plan B can look like.
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