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This is generally something that the founding team has to answer because it's grounded by the objectives and values of the founding team. Do you want to build
by CharlieDigital 2y ago
This is generally something that the founding team has to answer because it's grounded by the objectives and values of the founding team.
Do you want to build a solid business that pays your bills, creates value for your customer base, keeps a team of employees gainfully employed and productive, and retain control over the mission and long-term objectives for your company? Then keeping it bootstrapped is the way to go. Some people will tend to look down on this type of business or denigrate it with the label "lifestyle company", but there's really nothing wrong with this if it aligns with your life goals.
VC money makes sense when your objective is to go big and go fast (as you noted, "breakneck speed"); that money will let you scale everything you're doing: marketing, product development, hiring, etc. The VC network will connect you to more customers and help you generate more revenue. In accepting that capital, you're committing to growth at an accelerated pace so that investors can get a return on their investment.