Excellent point that I try to make to people who come to me with ideas. They all believe that they can raise money for an app and then sell it before they ever need to test their business model. There is nothing wrong with starting small, taking it slowly and growing a business on profit reinvestment.
Having said that, we've taken VC as we had no choice. So, when you want to start a capital intensive business then taking money is often the only option - just make sure your business model is solid.
Comments
Excellent point that I try to make to people who come to me with ideas. They all believe that they can raise money for an app and then sell it before they ever need to test their business model. There is nothing wrong with starting small, taking it slowly and growing a business on profit reinvestment.
Having said that, we've taken VC as we had no choice. So, when you want to start a capital intensive business then taking money is often the only option - just make sure your business model is solid.