A Survival Guide to Balance While Fundraising

By Lee Rubin, Co-Founder & CEO at Confetti

I received a message from another CEO not long ago. They were knee-deep in fundraising--a stressful and challenging time for many businesses. Fundraising is universally demanding, whether you're leading a startup or an established company.  

I learned lessons the hard way: neglecting to take these actions. I hope these tips are a guiding compass to make your fundraising journey more manageable. Implementing them are easier said than done. But trust me, it's worth the time to follow through. 

#1: Take a vacation before you begin fundraising 

Before diving into the demanding tasks of a high-stakes project like fundraising, consider the transformative power of a vacation. Picture it as gearing up for a storm; strategically retreating and regrouping can be a game-changer. I've learned the profound impact a well-timed vacation can have on stress reduction and overall well-being. 

Allocate 1-2 weeks to hit the pause button, disconnect, and recharge--it's a deliberate act of self-care. Recognize this retreat as an investment in resilience, a secret weapon for navigating entrepreneurship with renewed vigor. 

P.S. If you can, treat yourself to a vacation after the storm has passed too. 

#2: Get your healthy habits in order and stick to them 

I've never been a die-hard workout enthusiast. But after being glued to my seat for 16 hours a day, I felt my body aging from 30 to 90, especially during my seed round. My body felt like it needed a serious tune-up. So, I committed to weaving exercise and better eating habits into my daily routine. When we began Series A fundraising, these habits became my lifeline, especially on days when breaks were rare. I won't sugarcoat it--it wasn't always a joyride. But looking after my mental and physical well-being turned out to be the right call. It should always take the front seat compared to any ambitious goal you're chasing. 

#3: Surround yourself with a great support network 

When life gets crazy, I've found solace in the warm embrace of family, the camaraderie of friends, and the understanding of other founders. Family, with unconditional love and a tie to the circle of life, becomes my anchor in stormy times, reminding me what really matters. During stressful times, leaning on family brings a humble perspective, a reality check that grounds my worries.  

Friends are fantastic for a good laugh, exactly what you need during tough times. But here's the thing--pouring out your soul to friends might leave you feeling more isolated because they don't understand what you're going through at work. That's why I've discovered the magic of connecting with fellow founders. 

These folks get it--the ups, the downs, the whole entrepreneurial roller coaster. Sharing war stories, swapping lessons learned, and venting sessions with people who truly understand makes a world of difference. Even more impactful, create a recurring experience with a tight-knit group, turning those moments of connection into something lasting. It's the kind of support that goes beyond the fleeting, making a real difference when you need it most. 

#4: Find another purpose in life 

There have been moments when my business hit a rough patch, and that feeling of failure hit me deep--like I had nothing else worthwhile to contribute to this planet. These moments can be tough for anyone. 

The trick I've learned is to find another source of pride and improvement outside of the business realm. For me, it's creating art. There's something magical about starting with a blank canvas and making something you're genuinely proud of. Another option is giving back to something bigger than just your business, and definitely giving more than just money. Think community service. It's not just about being grateful; it keeps you humble and gives you a sense of purpose that goes beyond the ups and downs of your business journey. 

#5: Be strict with yourself 

As an entrepreneur, being strict with yourself is non-negotiable. It means setting goals, holding yourself accountable, and being open to some well-meaning advice. Sure, there are epic stories of founders going all-in, even remortgaging their homes for their startup dreams. But know when to hold 'em and when to fold 'em. 

I'm all for chasing dreams, but don't dive into risks that could mess things up for you or your family. It's a fine line. My advice: Set clear deadlines and thresholds. Make a pact with yourself that there's a point where you say, "Enough is enough." It's not about avoiding unnecessary risks; it's about steering your entrepreneurial journey with a smart and strategic mindset. 

#6: Remember there is an end date 

When you're knee-deep in the hustle, it feels like it's gonna last forever. But everything, the good and the not-so-good, has its end date. When you're grinding away, remember it's just a phase. The tough moments won't stick around forever, and neither will the good ones. Ride the waves, keep your head up, and know there's an end in sight. 

#7: Take it slow 

In periods of heightened stress, my brain goes into overdrive with thoughts. It's my cue to hit the brakes. In those crazy moments, I take the time to savor a warm shower, pick out clothes that make me happy, and deliberately slow down in small moments throughout the day. It's about finding joy in the little things and creating a sense of fun, even in the stress. Because sometimes, you just need to take a breather and enjoy the ride. 

#8: Treat yourself (it's the little things) 

Let's talk self-care--the little things can make a big difference. Got a favorite smoothie bowl or that perfect cup of coffee? Maybe you're all about Sunday movie marathons. Whatever floats your boat, make a list or just remember those small joys. Treat yourself to them regularly because we all need a bit of indulgence to keep the balance in this hustle. 

You can do it! 

In challenging times, I hope these insights strike a chord with you. And if you're currently experiencing a more favorable phase, here's a piece of advice: Consider looking ahead. Mapping out your next funding round could be a prudent move. Achieve those milestones, and lay the groundwork for financial success. Alternatively, contemplate the path to profitability, affording yourself the luxuries of time and financial autonomy. Or explore strategic partnerships, crafting a narrative that positions your business as an enticing prospect for acquisition. 

As Norman Vincent Peale wisely expressed, "Shoot for the moon. Even if you miss, you'll land among the stars." Why not set your sights on all three options? Even securing one or two is a noteworthy accomplishment. The key is adopting a strategic mindset, meticulously planning your moves, and actively steering your business through challenges--the recipe for constructing a resilient and thriving enterprise. 

Photo: Getty Images.