Fundraising · Business Development
I'm in a similar position with one of my companies. We've funded everything out-of-pocket to date and it's been challenging. Along the way we've considered outside funding. Of course with deep pockets there are so many things we could do, so many holes we could fill, resources we could add. But, in a way having limited resources is a blessing. There's never a huge dilemma about where to use incoming funds since it's usually obvious. It keeps us lean and focused on immediate priorities, and we find ways to make do with what we have. Sometimes a bunch of money and outside suggestions eases that daily pressure that keeps you focused. You can start getting side-tracked by all kinds of things you never had the funds to consider before. And, though some of these projects can yield benefits many of these are just distractions from the bottom line. Not to mention that something also happens in the dynamics in the company. People who realized that funds were tight made do, but now that there are funds, folks can start thinking that we should all have new chairs, new carpets, oh and did you see those neat new ergonomic desks...