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by norcode
5403 days ago
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You hit the nail on the head and I do believe I can probably round up the money from friends and family in the shape of a loan. Especially with the go-no-go system laid out in place ready to go. The idea of small 3 month increments working towards it is also very appealing.. Thanks for the solid advice. EDIT I also noticed that you recommend staying away from investment firms in order to preserve control of the company, but I'm honestly a bit scared to grow something like this myself with my limited experience in this area. Do you think my chances for success change at all with a 'professional' at my side? |
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Very few (any?!) investors are really going to help you with the grunt work of making the business successful.
Never assume that a good investor is a good operations person or a good marketer or a good visionary.
I love working solo. Less distractions. Less wasted time. The only person I have to argue with is myself.
That is not to say I don't have help; I just use strategic help for specific purposes.
I found a bad-ass marketing guy that helps me develop my marketing strategy. I use him when I need him. No equity or long-term commitment.
Same for infrastructure issues and sales strategies.
I have people that hold me accountable to keep me laser-focused.
To answer your specific question about professional investors helping your chances of success, it depends on your definition of success.
If you're trying to build a lifestyle business (highly recommend), then investors will explicitly block your success.
If you're trying to build a high-growth, 3-5 year exit business, then investors might be able to help.
I would still stay away from early-stage investment though. Use professional investment for the growth stage; this is the place where their experience will be directly relevant to your objective (fast, hard growth).