There are quite a lot that runs through your head when you consider taking on investment. It’s not a decision I believe should be taken lightly. As with all major decisions in life, if we go down that route, it changes things. Much for the better and some probably for the worse.
In the startup world there is a lot of talk about unicorns and life style businesses. The former are privately owned companies that are valued at $1bn or more. The latter are businesses set up by their founders to sustain a certain level of income but not more. There are obvious benefits to both, and draw backs.
I’m very driven and ambitious, but every now and then the idea of going big scares me just as much as it appeals to me. I want Glimt.it to be a household name that’s associated with the place for finding gifts and I want to be known as the founder of Glimt, expand my public speaking into covering the startup scene as well as UX. It will mean a lot of hard work and at times that’s the part that scares me. Then there is the part around giving up control and what in the end, this whole thing will amount to. Literally.
One of the reasons I went freelance is to gain more control over my working hours, what I worked on and over my life. With Glimt.it being solely ours, we have a 100% say on the decisions that are being made, what routes to take, how to monetise and what partnerships to pursue. That changes when you take on board investors. There are numerous articles talking about it and there are also articles that tell the tale of unicorn founders who at the end of the day have walked away with nothing.
I’m just saying that your own goals will dictate whether you should even raise venture at all, how much to raise, and what to spend it on. If you raise $5 million and sell your company for $30 million, it will likely be a life-changing return for you. If you raise $30 million and then sell your company for $30 million, you’ll end up like Richard.
Heidi RoizenHow to Build a Unicorn From Scratch – and Walk Away with Nothing
There is a lot to think about. Right now we’re fortunate to be in a situation where all doors are open.
Image via Flickr user Wendell
