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In episode #693, Eric and Neil discuss the pros and cons of raising venture capital. Tune in to hear why the juice may not be worth the squeeze.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: Should You Raise Venture Capital
- [00:40] Neil still raises venture capital.
- [00:50] If your idea is huge and you’re trying to swing for the fences, it is hard to do without raising venture capital.
- [01:18] It depends on what you’re trying to do with your business.
- [01:40] Rand Fishkin got so diluted while running Moz, that it ended up hurting him in the long run.
- [01:55] He could have sold the business for a profit, but did not take advantage of this opportunity.
- [02:20] His VC’s dissuaded him from taking what would have been a great deal.
- [02:35] VC’s can often steer you away from a clear vision, because they have their own desires.
- [03:25] Instead of trying to take money to make life easier up front. Think about the long term consequences.
- [03:50] You could end up in a fundraising cycle.
- [04:15] Build an audience first, so you have some leverage when you go to VC’s.
- [04:35] Neil met with some private equity guys in New York.
- [04:52] Neil didn’t want to do monthly or quarterly meetings, nor did he want to be beholden to investors.
- [05:15] Raising money is more painful than just working for yourself and getting to call all the shots.
- [05:25] Read Vivid Vision; it will help you figure out your goals.
- [05:44] That’s all for today!
- [05:48] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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