I've been reading a lot about startup financing. Its never enough, there's plenty of online resources and books. But this one seems to be a repeating subject: To VC or not VC? and when?
Here's a scenario: you're driving the highway, exits are flying by one after the other. You have another quarter tank, so why not look for a nicer exit?
So you go: No, not this one, nope, not this one too.
Before you know it, that nasty red light and beep goes off. THAT'S when the kids start screaming they're hungry and want that ice cream you promised. THAT's when you see the exit without even a gas/food sign and in small fonts: "Next Exit 12 miles"
I'm no CFO, know nothing about financing, other than being officially nominated as the family bill payer.
But I'll say this: You better plan your finance strategy a couple steps ahead. the next 'fancy exit' is ALWAYS farther than you think. Whether its a break you get from closing a deal on your last drops, or some divine supervision will draw another investment for you without them knowing you're choked.
PLAN AHEAD and get that investment if you need to: You know better: doing business cost money: whether its a ticket to the other side of the world for a warm-ish prospect, getting that extra developer in, or a pass into the show where your prospects are. Its one thing to select a hotel that's not as fancy. Its another thing when you can't afford to get out there.
If you start running short, you won't be visible, you'll find it hard to get in front of prospects and convince them that sweat under your suite is from the heat when its -20F.
End of financially novice transmission -<