4 ms·
This depends on the size of your vision and the speed with which you intend to achieve it. Some people want to create a business worth 100s of millions, and th
by JacobAldridge 15y ago
This depends on the size of your vision and the speed with which you intend to achieve it.
Some people want to create a business worth 100s of millions, and they want to do that fast - they need funding (not necessarily external, but I'm assuming from your question that you've depleted much of your own capital).
Some people are happy to wait years to get to that sort of valuation; others may only want to develop a much smaller business. They may or may not need funding. So there's no right or wrong answer - only what is best for what you want to create.
Once you have an idea of what size company you want to create and any timeframes you are arbitrarily placing on yourself, then ask what you will do with funding to achieve that? Do you need $100,000 to achieve that? Or $1,000,000? Or $10,000? There's little sense in raising more money than you intend to invest (with the possible exception of a buffer for unforseen blow outs) - that's just selling part of your company at a lower valuation than it will achieve in the future.
Good luck!