TBC: Taking Advice From Charlie Munger

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Hey, all welcome to the back channel in today's episode. I want to talk about a quote that I read from an amazing and investor, someone that a lot of people look up to. I'm talking about the late great Charlie Munger. I saw this quote that. He's well-known for this idea, that to get what you want, you have to deserve what you want and thought about how it applies to a lot of things in my life.

And then immediately, as I often do thought about how it applies to the fundraising world. It's an incredibly important idea for all founders to hold

Because there's so much content that can be categorized as more superficial components to a [00:01:00] startup that influence fundraising, for instance, storytelling. Your deck, even the stuff around process that I talk about, all that sits on top of something that is much more core to your goal as a founder, in order to get funded, which is deserving, that funding. So when I talk about this idea, That Charlie puts out there in order to get something you need to deserve it. First of all, I think a lot of founders skip over this step of what does it even mean To deserve. Venture funding. What does that even mean?

Because if you don't understand what it actually means to deserve venture funding, then how do you know you actually deserve it? So when I break down this quote, and I think about what you should be thinking about is make sure you understand what it, what it takes to be deserving of venture funding. What does an investor want to see in order to invest in a startup at your stage?

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[00:02:00] [00:03:00] What do they need to expect from you in the future? In order for you to fit their business model and actually, um, be a great opportunity for them to invest in. Once you understand the things that go into that decision, then you can work towards making sure that your company deserves it. At a high level. Without going into details.

I really think it means just being a great founder. Who's building a great business. Now, the devil's in the details in terms of what a great founder means, what an investor is looking for in a great founder and what a great company means. But if you can actually get to that point. And you fully and deeply believe that you deserve it.

Then as you kick off a process and then you activate the things like storytelling, putting together a great deck and [00:04:00] setting up preparing for and executing a great process. Then everything that you deserve should come to you. Okay.

So just a quick thought from one of the greats. I hope it resonates deeply with you and spurs you into action and get you to that point where you deserve everything that you want. Thanks so much for joining me on this episode. Of the back channel. See you next time.

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