Entrepreneurship · Fundraising
You have a classic tradeoff situation for a startup: (1) keep bootstrapping to maintain full ownership and control, but only make slow progress; or (2) get investor funding to accelerate launch and traction, but give up equity.
What risks do you run by going slow? Are there potential competitors who could overtake you? Can you keep your team together if you are short on funds? Are there other timing factors that would make it advantageous to get to market sooner? If so, then go for the funding.
To get an idea if you are ready to pursue investors, take my free Minimum Fundable Company Test at www.mfctest.com. It covers startup viability, business model, market strategy, management, and the deal. Investors want you to have enough of the right stuff in each of these five factors in order to invest.