I am always looking for black and white answers to problems, then to make a sure-footed decision, and move forward decisively . . . perhaps it’s the engineer in me. So, I am very big on gathering all the facts so that an educated choice can be made with my eyes wide open. I don’t think I’m wishy-washy, though, because when I decide, it is almost always final.
My normal MO has been hard to follow when it comes to whether and when to seek funding for my company, jobtrio.com (contractor advertising), however. Maybe it’s because I’m new to this particular strain of dilemma, or maybe it’s because there is no right answer, but irregardless, this quandary is making me crazy.
On the one hand (acquire funding) is:
- having the resources to execute our marketing plan as we truly envision it
- hire great help to tune-in our product. do sales, expand our geographical coverage
- employ industry experts to give us much needed advice along the journey
. . .Then on the other hand (hold-off on funding):
- retain control and a large stake in the company I started
- test-out our business model on a small scale so that we fully understand our cash flows (i.e learn what our product is really worth)
- not obligate our selves to anyone else (i.e. at present, we only let ourselves down if we fail)
I get all sorts of varying advice on this topic. In general, industry veterans tell me to bootstrap for as long as humanly possible. My friends and family all advice me to get some funding so that I can stop working 16 hours a day.
At present, we have yet to seek funding, but this lifestyle is really starting to grind on me! I would very much appreciate it if anyone could offer me some words of wisdom regarding either path.
Josh Groves
President
jobtrio.com
Profiles and reviews of California contractors.
“Let’s get to work!”
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