Raising money has it’s own peril and biggest of them is the managing the investor’s expectations. And the problem with this is that they are not outlined in the term sheet. They keep unfolding over a period of time, and at times, this could be a real arduous task.
While as a founder you are responsible to answer those who have provided you money, but that does not mean that over a period of time, you become the ‘conductor’ of the bus and and the VCs the ‘driver’.
Those who have the money and could not start company earlier, would always have this some fetish to be the pseudo-CEO.
Be soft where you are required, be firm also where you are required. This is (still) your company and not the investor’s.
“As a founder, you have to manage your investors. You shouldn’t ignore them, because they may have useful insights. But neither should you let them run the company. That’s supposed to be your job. If investors had sufficient vision to run the companies they fund, why didn’t they start them?”