Decide Whether to Raise a Small Round
Added 2026-11-03
Weigh what the round buys, how much it dilutes, and what the next round needs.
We are considering a small round (details below). Do: 1) list what the money buys — time, people, channels — and convert it into months of runway; 2) estimate dilution and its effect on the next round; 3) compare alternatives to raising: slower growth, profitability first, debt; 4) point out where this money is most likely to be wasted; 5) give decision criteria: which signal means raise, which means do not. Do not say "more money is always better".
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How to use
融资决策的关键是「这笔钱买到什么」，不是「估值多少」。
Try tweaking it
- Have it state how the hypothesis could be falsified before discussing execution.
- Split the plan into a one-week testable experiment.
What you should get
- A small testable experiment with a failure threshold
- Costs, risks, and what needs outside confirmation
Common mistakes
- Asking for a "full business plan" and getting unverifiable optimistic assumptions.
- No failure threshold, so you never know whether to continue.
How to check the output
- There is a clear failure threshold, testable within a week.
- Costs, assumptions and risks are listed separately.
Where it works
- Good for: turning business assumptions into a small testable experiment with a failure threshold first.
- Watch out: for pricing, contracts and legal points, treat output as a draft needing professional review.