Is raising FUNDS a good idea? 🚀
Akshay Thakor
9 replies
The debate between Funded vs Bootstrapped is endless and I believe it totally depends upon what your goals are.
However, I often get stuck in this dilemma of whether I should seek funding as it will give me leverage over time, speed, & growth, OR "Do I actually need it?"
From your experience, is raising funds a good idea? If YES, when?
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Akshay Thakor@asthakor51
Is your startup funded?
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7 Answers
If your product gives profitability at scale, and you want to scale - then it's a big YES
Depends on goals and product.
Deep tech products like the new hypersonic planes, biotech, cutting edge robotics etc. cannot be built without funding.
Both funding & bootstrapping are valid approaches...just depends on what you're building and your goals.
@sven_radavics This clears many doubts Sven. One must understand the difference between "Tech Enabled" VS "Tech Driven" startups. Mine to be honest is Tech enabled, and does not require deep tech to get off the ground. 😇🙏
Let me know your thoughts on this, and thank you so much for your insights. 🚀
There is one alternative between bootstrap and fundraising: selling lifetime deals (LTD). It can give you the cash injection to scale without giving away equity.
I personally used this approach with QApop 2.0, using our first product hunt launch to raise funds with LTD: https://www.lunadio.com/blog/we-...