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?
As an entrepreneur who has traversed similar situations I understand your feelings around whether one should take funding or delay until later.
The good part as I understand you are at a point where the startup is ready to launch an MVP, identified market entry segments. But then again, it is too early to predict how the market will receive your MVP/Product, how difficult it would be to get customers, convert and grow.
Whatever your product/service is, it seems to have garnered interest enough to get a decent seed that can prove valuable to stay in business & especially grow.
If you are sure to begin making revenue that will keep the company afloat or have enough of your own funds to continue bootstrapping, then go for it. If that isn't the case it might be worthwhile exploring the investment for strategic reasons too besides growth. Investors that are vested, will also help make introductions, forge partnerships and promote your company. You will also be able to attract good talent once you have backing from investors.
Good luck with the MVP and as you explore these critical decisions.
cheers
Answered 9 years ago
Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.
Already a member? Sign in