I spoke with a sharp founder who has a problem I rarely hear about: he’s turning away customers because he can’t service any additional business. He wants capital to expand his team so he doesn’t have to do that anymore! Having been in his space for a decade, he understands his customers’ needs well.
His waiting list and revenue growth are indicators of a likely product–market fit. His platform is creating value for customers by solving a painful problem. And they’re readily paying for it. All great signs. This founder is entering a phase where scaling the company will be his next challenge.
It’s not often that founders find themselves in the position of having to tell customers no. Congrats to this founder! I’ll be interested to see how he handles the scaling phase of his entrepreneurial journey.