As a solo founder, I run a start-up company in the medical space that is doing fairly well. Within 3 years we have 6 figure revenues, and our annual revenues are growing consistently. I am in my early 20's, and I honestly just don't have a strong passion for the space I am in anymore. I have considered selling the company, but I know I wouldn't get as much as I would like if I was to sell now. Recently, I have pushed the idea of selling aside and have been planning out a strategy to grow the start-up more aggressively, however I would definitely need VC/Angel funding to do so. If I was to raise VC/Angel funding, I know I wouldn't want to stay with the company for the next 5-10 years, and would want to cash-out a majority of my shares within 2-3 years if possible (which in the ideal situation would net me more than selling now). My question is, should I attempt to raise money and get this company much larger, if I don't see myself in it for the long-term?
Your lack of enthusiasm will be apparent to anyone you will want to raise money from. So, that is probably not a viable option.
I think the alternative of bringing in a partner who is passionate about what you are doing is a great idea. That sets up smooth transition for you to get out.
This will still take a while the bottom line is you can stay or leave whenever you want to, but as you have already clearly stated the amount you get out of it will depend on how long you want to stick it out. If the additional return you think you will get is worth it, stick around and make something happen. If not, cash out and move.
Answered 9 years ago
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