{"id":6323,"date":"2021-09-24T11:14:50","date_gmt":"2021-09-24T04:14:50","guid":{"rendered":"https:\/\/news.bitcoinvn.io\/?p=6323&lang=en"},"modified":"2024-05-22T12:59:18","modified_gmt":"2024-05-22T05:59:18","slug":"stay-independent-avoid-vc-funding","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/news\/stay-independent-avoid-vc-funding\/","title":{"rendered":"\u201cStay independent, avoid VC funding\u201d – BitcoinVN Founder Dominik Weil on bootstrapping & entrepreneurship"},"content":{"rendered":"

Recently BitcoinVN\u2019s Co-Founder <\/span>Dominik Weil<\/span><\/a> sat down with the team of <\/span>Starterstory<\/span><\/a> out of New York City to share the story of BitcoinVN\u2019s early days.<\/span><\/p>\n

<\/p>\n

In the interview, Dominik shared how getting involved with Bitcoin enlightened a fire in him and provided him a new purpose in life:<\/span><\/p>\n

\u201cAfter three months of intense study and research – I knew that this is something I need to become a more active part of.\u201d<\/span><\/i><\/p>\n

He also shared how he and his team struggled getting the business off the ground <\/span>in his home city of Frankfurt<\/span><\/a> due to the oppressive regulatory environment imposed on the traditionally mercantile and enterprising people of Frankfurt by the occupying Berlin regime – and ultimately led them to take their venture to the challenging, but opportunity-rich environment in Vietnam; which has dignified itself as one of the fastest growing economies globally in the past decade.<\/span><\/p>\n

\"The
The very first version of BitcoinVN – launched to the public in Quarter 1\/2014.<\/figcaption><\/figure>\n

Opposite to the common mantra of \u201cFake it, \u2018til you make it\u201d, Dominik advances the idea to seek a more long-term oriented outlook on business and life in general.<\/span><\/p>\n

\u201cOptimizing for short-term benefits without thinking about long-term implications is the wrong mindset. It might help you at the moment but puts you long-term in a much harder spot.\u201d<\/span><\/i><\/p>\n

He also spoke out against prematurely giving up founders equity to people who might not be aligned with the greater vision of the founders:<\/span><\/p>\n

\u201cStay independent, avoid VC funding (unless you really know what strings come attached with it and that it is a part of your game plan).\u201d<\/span><\/i><\/p>\n

Last but not least he also shared how his entrepreneurial journey shaped changes in his general outlook on life and what sacrifices it ultimately entails:<\/span><\/p>\n

\u201cIt\u2019s not for everybody – working a job is much less stressful, less risky, and you have more time off.<\/span><\/i><\/p>\n

Running a business – you can’t just take a week\u2019s vacation. You can barely take a day off. It\u2019s always on your mind; you always think about what to do better; what to do next; what things to do today, tomorrow, next month.\u201d<\/span><\/i><\/p>\n

For the full interview of Dominik with Starterstory go here<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Recently BitcoinVN\u2019s Co-Founder Dominik Weil sat down with the team of Starterstory out of New York City to share the story of BitcoinVN\u2019s early days.<\/p>\n","protected":false},"author":11,"featured_media":6324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10551,8344],"tags":[56,8519],"class_list":["post-6323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-sidebar","category-life-entrepreneurship","tag-bitcoinvn-2","tag-funding"],"yoast_head":"\nDominik on Bootstrapping: Stay Independent, Avoid VC Funding<\/title>\n<meta name=\"description\" content=\"Recently BitcoinVN\u2019s Co-Founder Dominik Weil sat down with the team of Starterstory out of New York City to share the story of BitcoinVN\u2019s early days.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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