https://lechkaniuk.com Source notes and fundraising guides adapted from the Polish books Sila Pedu and Aniol w Piekle. en Sun, 26 Jul 2026 10:18:59 GMT https://lechkaniuk.com/og/home.png https://lechkaniuk.com https://lechkaniuk.com/letters/001-a-real-step?utm_source=rss&utm_medium=feed https://lechkaniuk.com/letters/001-a-real-step The first input a project needs is something real enough for the market to answer, not a better plan. letters Sat, 11 Jul 2026 00:00:00 GMT https://lechkaniuk.com/library/essays/005-the-work-starts-after-the-round?utm_source=rss&utm_medium=feed https://lechkaniuk.com/library/essays/005-the-work-starts-after-the-round Closing an investment does not finish fundraising. It begins a longer operating relationship built on reporting, decisions, and trust. fundraising Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/library/essays/004-understand-how-a-vc-fund-thinks?utm_source=rss&utm_medium=feed https://lechkaniuk.com/library/essays/004-understand-how-a-vc-fund-thinks A founder negotiates better after understanding where a VC fund's money comes from, what the fund must return, and how it eventually exits. investing Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/library/essays/003-investor-money-changes-the-company?utm_source=rss&utm_medium=feed https://lechkaniuk.com/library/essays/003-investor-money-changes-the-company External capital changes ownership, reporting, decision-making, and the meaning of independence. It does more than extend runway. fundraising Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/library/essays/002-focus-until-the-market-can-answer?utm_source=rss&utm_medium=feed https://lechkaniuk.com/library/essays/002-focus-until-the-market-can-answer Large ambitions become useful only when they are reduced to a market, a customer, and a next test small enough to execute. scaling Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/library/essays/001-momentum-begins-with-a-real-step?utm_source=rss&utm_medium=feed https://lechkaniuk.com/library/essays/001-momentum-begins-with-a-real-step A plan can absorb weeks without moving a company. Momentum begins when the idea becomes real enough for the market to answer. momentum Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/fundraising/do-you-really-need-an-investor?utm_source=rss&utm_medium=feed https://lechkaniuk.com/fundraising/do-you-really-need-an-investor A decision checklist for separating a genuine capital requirement from the assumption that every startup should raise. fundraising Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/fundraising/monthly-investor-update?utm_source=rss&utm_medium=feed https://lechkaniuk.com/fundraising/monthly-investor-update A consistent update keeps founders honest about progress and gives investors enough context to help before a problem becomes urgent. fundraising Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/fundraising/nine-ways-to-finance-a-startup?utm_source=rss&utm_medium=feed https://lechkaniuk.com/fundraising/nine-ways-to-finance-a-startup Investor equity is one option. This map compares the nine financing paths presented in Anioł w Piekle. fundraising Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/fundraising/pitch-deck-structure-from-aniol-w-piekle?utm_source=rss&utm_medium=feed https://lechkaniuk.com/fundraising/pitch-deck-structure-from-aniol-w-piekle A simple narrative structure from Anioł w Piekle for explaining the company without hiding the investment case under decoration. fundraising Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/fundraising/prepare-for-a-vc-process?utm_source=rss&utm_medium=feed https://lechkaniuk.com/fundraising/prepare-for-a-vc-process A compact preparation sequence: confirm the decision, define the milestone, research the right funds, and keep more than one path open. fundraising Sun, 07 Jun 2026 00:00:00 GMT https://lechkaniuk.com/fundraising/term-sheet-reading-checklist?utm_source=rss&utm_medium=feed https://lechkaniuk.com/fundraising/term-sheet-reading-checklist Valuation is only one line. Use this checklist to examine ownership, downside protection, control, and the working relationship behind the offer. fundraising Sun, 07 Jun 2026 00:00:00 GMT