I just totally disagree that funding in the "critical first steps" is what a business that has a revenue model requires.
Basically, I have come to be of the opinion that the types of businesses that need funding for critical first steps are B2C businesses with no revenue model other than advertising which need a huge critical mass with a lot of infrastructure investment before it can become profitable.
If you have revenue, you don't need a springboard. You just need to wait. There isn't one dry cleaner in New York. I love Chris Savage's post on this topic where he's talking about the idea creation process before Wistia and saying basically that although there are a bunch of companies that already do what you're doing, it's really hard to get people to pay attention online and saturation takes a really long time.
If there's only two of you, break even point is really low, and that's all you need.
Some are preoccupied with glamour and glitz,
Actin all boogee and making big movies,
But I'll be in the cut call me Incognito,
Busy makin joints that will bump for my people,
You're listening to a man who was something for nothing,
Stay in me forever head, never be frontin
I agree that not every business needs to raise. If your goal is to slowly build a lifestyle business, there's no rush. If you want to become huge, funding helps a lot. Being patient means you give opportunity to others to bypass you while they raise - we had 2 funded competitors rise up after we launched. Luckily, we outperformed them both, and one of them will soon become an affiliate, but if they had stronger teams the outcome could've been the opposite.
You could do that but you are risking a lot. A well funded competitor with competent founders who understand the market like you do would likely outperform you. (Emphasis on competent founders).
Basically, I have come to be of the opinion that the types of businesses that need funding for critical first steps are B2C businesses with no revenue model other than advertising which need a huge critical mass with a lot of infrastructure investment before it can become profitable.
If you have revenue, you don't need a springboard. You just need to wait. There isn't one dry cleaner in New York. I love Chris Savage's post on this topic where he's talking about the idea creation process before Wistia and saying basically that although there are a bunch of companies that already do what you're doing, it's really hard to get people to pay attention online and saturation takes a really long time.
If there's only two of you, break even point is really low, and that's all you need.
Some are preoccupied with glamour and glitz, Actin all boogee and making big movies, But I'll be in the cut call me Incognito, Busy makin joints that will bump for my people, You're listening to a man who was something for nothing, Stay in me forever head, never be frontin