Whoa, it's been a month since my last post! I'm sure there's a way to keep up the blogging while swamped with my startup work, just need to make time to find it ;)
One of the tasks that is occupying me is getting additional funding. We're currently in a boot-strapping mode and with a tiny team, it takes longer to get the boots-strapped, so to speak. A judicious infusion of funds will fuel growth very nicely. But, where the funds come from make a difference - in fact, where I should choose to spend my time looking for funds is important too as time is a precious commodity. Given our social entrepreneurship leanings, it is not surprising that what we do for our business and how we do it is just as important as how profitable it will be, so we'd want investors who'd support that.
This HBR case study is a timely one about an entrepreneur assessing whether she should take angel funding with strings attached - the strings and the way the deal is proposed are relevant to the decision. The article itself does not proffer an answer, allowing the reader to make his/her own call. The comments are thought-provoking, covering the gamut from 'of course, take the money' to 'run away from this!'. My own position is that every choice an entrepreneur makes is based on what s/he wants from the venture - money, meaning or both, with the last one requiring more subtle balancing and compromising. Check out the article here for a quick exercise which may reveal something about your own priorities!