Rather than running out of money, I’m running out of things for my developer to work on. There’d be PLENTY for him to work on if only I could keep up. He has a limited skillset, i.e. frontend only. For everything he does, I have backend dev work to do for enabling his work. I now have a backlog of those tasks that I’m working through.
The potential solutions are:
Option #2 seems like it’d just delay the inevitable. Option #3 sounds like too much of a distraction. Option #4 feels like admitting defeat. Option #1 sounds ideal. Is that the way forward?
I could probably largely self-fund the new hire, although that’d come with great personal sacrifice and financial risk. I wonder if I should look for an investor for both de-risking and advising.
I’m worried about not getting the investment terms I want given how advanced my technology and product are. I hear it’s better to first have revenue. Then again, if a potential investor can’t understand the value that comes from the solid technical foundation upon which my product is built – nothing short of perfection – then we're not a good match. I wonder if I could find an investor with the right kind of technical background. Should I give it a go? Or should I self-fund the new hire to start?