Are we crazy for turning down an investor?
Last weekend we were talking with a business acquaintence at a convention. Out of the blue he told us he wants to invest in ReviewTycoon. We know he's really good in his work and can help us grow way quicker then we're can on our own.
We turned him down because we rather want to grow slowly without pressure of an investor or the need to get a big sales team.
It appears that my business partner and me are not interested in money but have more value for a good work/life balance.
Are we crazy for turning him down? Are we afraid for growing a big company?
Not at all! If you're building something interesting you're going to have investor interest. You can always say something like "We're bootstrapping for now but will let you know if we're raising a round in the future". I've done this a few times with my company and still feel like the door is open should I change my mind in the future. If there's one thing that makes investors even more interested it's that you don't need their money :)
Hey,
It all depends on person to person, what the particular one wants, if he wants to grow fast or slow.
It's always the inner voice and if you think you are making the right decision, just stick with it, and make it right.
Well, can you share the insights what you are making and what you have been offered, if you fell to share?
We've built a SaaS for companies or online marketeers to create their own review sites. After a slow start we finally seem to have our onboarding and sales funnel in order. We're growing in a great pace and happy how things are working out. The investor offered money for a share of the company. We were not even discussing numbers yet. In return he would bring his expertise of scaling the company which he has done before. We know him for many years and have no doubt in his knowledge.
You mention review sites, I am currently pushing forward a product in the reviews space, interested in seeing if any opportunities for collaboration.
Message me if you think so m@reviewstap.com
Well that's wonderful.
Keep it up, dude..!
If you are considering this as a lifestyle business then 100% right to turn down investment.
Once you have investors onboard, you are forced down the path of growth until exit which can create conflicts of interest if you decide to just go slow and steady.
Depending on the terms of the investment this could even lose you control of the business you started.
Depends on the terms.
This comment was deleted 4 years ago