| tl;dr: Know what you're going to do with every dollar before you raise it (early). Also, VC investment isn't the only investment; if you won't have breakneck growth consider private equity. I dislike having investors, as a general rule. They meddle. However, when you take investment it's important to do so intentionally and purposefully. Good fundraising: "With X thousand dollars we can hire Y developers to build Z feature, which we project to generate a positive net return within N months." Bad fundraising: "Who-hoo, we're funded! Let's buy some Aeron chairs and kitchen snacks and move to The Mission!" In your situation: if you have an unfair advantage in a fast-growing market, and you can increase your edge and get more customers/revenue/value with investment quickly enough that the investment pays for itself, then consider it. If the features/hires/investments you could make with that money also fill you with excitement and anticipation, then do it. If you don't want to be busier and you're happy with what you have, stay far away from investors for both of your sakes. They'll get frustrated by having a "zombie company", you'll get frustrated by their frustration. Finally, consider pursuing alternative investors. There are many smaller-scale private equity firms (or individuals) which are more comfortable with making investments to generate steady, predictable & consistent cashflow. They might be better aligned with your personal goals. |
We are fine in terms of money, I just had this (misguided) idea that getting funding now helps me to be even less involved in the project but since my decisions made this a success I think we really look to sell the whole thing.
Before we do this we will keep growing it for a little longer and try to make everyone replaceable. It doesnt matter much for us anyway. We just want to get done with the making money part of our life and will get there regardless if we sell or not until the end of the year.