I am at a hybrid stage of my start up. I have seeded everything personally to this point. We have a MVP, and we are within a week or 2 of going live. I have already secured several market entry points. I was offered 7 figures for equity in company last week and I have a follow up with them soon. While it sounds great I am having my reservations, and thinking of taking this to market without their money. I am not sure if I need them. The software is made, I have entry into the market, I have users ready in place. Yes with their money I will be able to go regionally or nationally very quickly, however I am not sure if that is the best option. Should I follow my gut, or am I stupid for not taking the funding and accelerating the company faster?
If you are having doubts about taking the money then don't do it. The reality is that as an investor, a day will come when you are succeeding and there is room for a lot of growth - you are there now. If you think you don't need them, either raise the amount or lower their stake to were it is as cheap of funding to you as possible.
If your recent sales are enough to generate a longer burn term while you go out and get more sales... then definitely don't take their offer.
There is nothing wrong with declining investment requests. I'm sure this won't be the last; either from your own pursuit or their own interest.
Best of Luck,
Humberto Valle
#thevirtualcoach
Answered 9 years ago
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