Running a startup, invest bit of your money (or bootstrapped), then raise a bit of funding, the transition seems that your business is somebody else’s business. This is where majority of business die.
I wanted to draw attention there to say, Mind the business. Go back to basics: Why did you startup? That question has all the answers.
You started up because you spotted a gap /a pain point / a need /some frustrations/something which motivated you to start.
If that is the truth (and you didn’t start just to raise fund and take a fat salary), then mind the business ‘all the time’.
As I get to meet several startuppers, everybody has their reasoning as to why are they are in the game, even though they are not even making the basic salary they would have made had they been an employee. To my surprise, only handfuls are clear in their mind that this is what they always wanted to and they have no reasoning but to be in the game.
Bringing back your attention to the ‘transition’ of the business (no funding to funding), none of the investors will ever tell you for sure which way to run the business to take to next level. They will only hear and share insights /ideas/analysis and learning from similar/related industry. The rest is you mind your ‘the’ business.
Also the ‘transition’ means you have more money, more people in the team and that further challenges towards managing the business: ego /confusion/ ideas that sounds like solving customer problem vs. your defined problem to keep the focus. Revisit, Mind the ‘core’ business.
And the ‘transition’ of suddenly a poster boy who is able to raise fund has its own pitfalls. You are dragged to participate in unrelated events as ‘thought leaders’, possible ‘angel investors’, and coverage in media on your influence in the ecosystem. Mind ‘this not’ the business.