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You haven't failed, you've founded a successful startup. Now you're looking at options and obstacles to taking the next step up. Big money, and the potential fo
by csmark 9y ago
You haven't failed, you've founded a successful startup. Now you're looking at options and obstacles to taking the next step up. Big money, and the potential for even more of it, does weird things to people. Look at where you are at in life and where you want to be personally. The problem with "possibly" is how it can change one's perspective of reality. Others have given you the "take the money advice." I agree with the push both fronts advice. The reality is you have the skills to start a company but finding investors is not your gig.
Options:
Small Business Association - Specifically the 7a Loan which tops out at $5 million. The "Lender Match" program may also be of interest.
Find a lawyer or banker with experience - What sgs1370 said.
Consulting firm or person - If you don't have contacts flush with cash hire someone who does.
Legal council - The cost of a hiring a lawyer is a pittance compared to later realizing you should have done so. Same thing applies to a banker if you sell the company. (Obviously)
Things to consider -
https://hbr.org/2008/02/the-founders-dilemma https://hbr.org/2008/02/the-founders-dilemma
Managing a small team of professionals is a different world from finding and managing competent workers. Your daily duties will change dramatically especially if outside investors have a controlling stake in the company.