| There's a big difference between investors and a support network. 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). |
I am now looking at strictly friends and family to get the initial startup capital I need until I can properly valuate what we have here.
Great advice!