Check out this heart-wrenching post from an entrepreneur who has a business that is about to fail:
My Startup has 30 Days to Live
The biggest tragedy here is that the guy had a profitable business. Yes, you read that right, his business WAS profitable, but then he fell for the good 'ol VC trap. He started taking advice from his investors and his vision for the business got derailed and now he's left hanging out to dry.
Violating the commandment of control is always a bad idea. Always. I speak from personal experience.
There is a reason why customers are your best possible investors. Yes, VC capital can be a smart move sometimes, but I also would invite you to review the business philosophy of the founders of such companies such as Chobani, Sriracha and many, many more. The owners of these companies turned down lucrative offers from investors at numerous stages and they are growing incredibly strong. Chobani is a BILLION dollar business just to give you an example.
I'm sorry if this rant has brushed off on you, but I seriously think that entrepreneurs ought to reconsider their options when offered investment. There is often a different and better way to expand.
As for the original entrepreneur, hopefully he'll be able to get back on his feet. He's gained some valuable insights with this experience, I'm sure.
/rant
My Startup has 30 Days to Live
The biggest tragedy here is that the guy had a profitable business. Yes, you read that right, his business WAS profitable, but then he fell for the good 'ol VC trap. He started taking advice from his investors and his vision for the business got derailed and now he's left hanging out to dry.
Violating the commandment of control is always a bad idea. Always. I speak from personal experience.
There is a reason why customers are your best possible investors. Yes, VC capital can be a smart move sometimes, but I also would invite you to review the business philosophy of the founders of such companies such as Chobani, Sriracha and many, many more. The owners of these companies turned down lucrative offers from investors at numerous stages and they are growing incredibly strong. Chobani is a BILLION dollar business just to give you an example.
I'm sorry if this rant has brushed off on you, but I seriously think that entrepreneurs ought to reconsider their options when offered investment. There is often a different and better way to expand.
As for the original entrepreneur, hopefully he'll be able to get back on his feet. He's gained some valuable insights with this experience, I'm sure.
/rant
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