“No, sorry. Thank you so much for your interest, and I’d love to keep your information for future conversations, but for now? Respectfully, no.”
Burget and Lo aren’t the only ones changing their thinking. When Facebook founder Mark Zuckerberg issued his famous edict to “move fast and break things,” he captured a spirit that became the dominant narrative in startup circles for more than a decade. Exponential growth became the defining metric for entrepreneurs and the institutions that supported them, never mind the fallout of expanding by 10 or 100 or 1,000 times or more.
It might seem grim, but there’s considerable upside to this trend, according to Jérôme Nycz, whose work as executive vice-president at BDC Capital involves tracking and analyzing funding trends. In his view, startups that prize fiscal fundamentals are not only better positioned to weather this “fundraising winter”—they’re more likely to come out of it thriving and far less likely to fizzle out.
One of Rouleau’s motivations for starting her company a dozen years ago was to eliminate single-use plastics in an industry riddled with them, so one of its growth metrics is the number of bottles saved from recycling or landfill—more than 1.2 million in 2022—and the goal is for the growth rate of this variable to move in lockstep, if not outpace, that of revenue. Metrics like this create guardrails to keep the business growing in alignment with its purpose.
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