Let's build the next great generation of Boston startups
Here's some advice:
You should delay as long as humanly possible to raise money until you need it. First off, because you may be able to build a successful business on your own without investment by generating revenue, like Niraj and Steve did for the first decade of Wayfair. And second, because the second you raise money, you start the shot clock. There's not infinite seconds on the shot clock.
If you do decide you need investment, we'd recommend you come to this group of experience operators and people who want to help provide you with support beyond money. Oh shit, that group is right here! How absurdly convenient!
The value we will provide and commitments we will make:
We will use Y Combinator's approach to investment: Post Money Safes (https://www.ycombinator.com/documents/). This has proven to be the easiest, founder friendliest investment vehicle. We can help explain this to you if you're confused about it.
We will always be direct.
We will NEVER play lip service to you. Lip service kills companies. We don't do that shit.
We will NOT tell you how to run your business.
We will NOT take board seats (unless you want us to).
We will NEVER lie to you or put anyone's interest above your business. A business is a living, breathing thing. Treat it as such.
We will NOT ever turn away you or anyone from your company who needs support or wants to talk.
We will help make sure you and your cofounders have a clear division of responsibility so that you know each other's strengths, know where each to focus, and can make the best use of your time.
We will help you define your Purpose, Mission, Values, and Culture (if we believe you need the help). We've found that this is a critical step in increasing the likelihood of success of startups.
We will give you a tactical, executionable blue print for all of the infrastructure you'll need (Finance support blueprint, HR support blueprint, etc). You should be focusing on your customers, not spending a day reconciling your books or pounding employee data into Zenefits.
We will PROACTIVELY help you staff your teams through our united connections of, yes of course, Wayfair people, but also people in the greater Boston and NYC tech scene beyond Wayfair.
We will help match you up to the best investor both within our fund and beyond for your future Series A's and B's, who can add value to you and your business to serve as a mentor. If you don't want the help, that's cool, too. Some startups don't want/need the help. Others may want help at random times. We get it.
While everyone would love, 10x, 20x, 100x returns, our goal is to help entrepreneurs build the next series of great Boston startups, whether these are unicorns or nice lifestyle businesses.
The Wayfund Created By Wayfair People. For Wayfair People. If you'd like to get involved, let us know. Email: email@example.com