I tend to hear the following a significant amount of the time when speaking to entrepreneurs and their management teams in regards to growth capital:
“If I were generating the kind of revenue you seek for investment I wouldn’t need your money”
That may very well be true but I think the following 2 points have some merit as well:
- What sort of skills sets do you and your management team possess? Being successful at building a business to 2-10m in revenue a year is phenomenal, but getting to a 50-100m+ a year requires a different skill set. Can adding capital and value add resources help you rapidly scale through the expansion stage ahead of your competition?
- Often times there are existing shareholders/employees that would be happy to take some money off the table with the sale of a portion of their shares. Have you seriously considered this? Would it improve and motivate their work to gain some hard earned dollars?
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