A common misconception among founders is that raising money will magically solve all their problems. They may believe that their investors will save them from failure, which leads to a lack of critical thinking and preparation for ongoing challenges.

Magical thinking in startups refers to unrealistic expectations about success without a grounded plan, making it harder for founders to face reality. It is when you believe in unrealistic causes and effects, thinking that things not rooted in reality are true for you. For example, some founders think that if they pitch their startup to a prominent investor, they will instantly recognize its brilliance and offer support, which is a flawed mindset.

Many founders mistakenly believe their fundraising experience will mirror that of others based on anecdotal evidence, leading to unrealistic expectations about their own fundraising efforts.

Founders who create luck are proactive; they interact with people, share their ideas, and build things instead of waiting for opportunities to come to them.

Many founders mistakenly believe that fundraising is about more than just raising money to build a successful company, which can lead to misalignment with investor expectations.

Using the network for seeking opportunities and risk assessment is crucial for founders. Luck is a significant factor in success, but I believe that if I keep working hard, eventually luck will swing my way.

The perception that everyone else is successfully raising funds creates a warped reality, making founders feel isolated in their struggles.

The idea of a 'magical deal' can mislead founders into thinking that one significant event will solve all their problems, but often, it leads to more challenges.

Many startup founders base their strategies on vague information, like a fundraising announcement or a podcast interview, without understanding the underlying context.