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Sounds like things are going very well, good work! 1 m is not very much for something that is demonstrably successful, if it can scale. There should be people t
by Grustaf 9y ago
Sounds like things are going very well, good work! 1 m is not very much for something that is demonstrably successful, if it can scale. There should be people that can pony up the money in Toronto, they are just fewer of them.
Having said that, why not just hire some people to help you run things while you take a week to put together some pitch materials and start making calls? Or just run it for a bit more, then put it on hold while raising funds? Capital raising will take much more than a week in total, but again, why not just hire people? Surely you can get enough money together to pay for a few interns, overseen by you?
In any case, if you managed to launch it so quickly, you probably don't need to worry about pausing it for a few weeks. Just make sure to gather enough data so you can make a convincing pitch!
- ToFundorNot 9y agoThank you for your response Grustaf. Hiring has crossed our minds, in the past we've had less than stellar results with our previous endeavors and while we've learned much from them, we feel we will still have problems hiring the 'right people'. Also as of current, because our process is not optimized, anyone else doing the job at market value is a money losing operation (drivers). There are still many wrinkles to be worked out which would be smoothed with additional capital. I figure the takeaway would be to let it ride for the moment as both hiring and funding will be long processes (say 2 month for funding, 2-3 weeks for each hire?).