Capital. To Venture or Not to Venture.

My position on this has changed ALOT of the last 10 years of venture scale and being around builders whom have reached scale without huge or with very little capital. Its actually a choice. And its a very specific one. If you go venture its very very difficult to go back again. Very difficult. Raising $1m from HNI's and building. Is very different from raising $3-$5m (with institutional early stage money inside). That institutional money wants to see follow on institutional and will be very very vocal and disappointed if you chose not to. Once you raise $10m+ it is a marriage and the siren song of the valuation game is nigh impossible to ignore.

Profits First.

1. Most businesses don't need venture capital. I have met quite a few people whose business generate $1m in revenue and $200-350k in profits. These are relatively small teams doing niche work at their own pace. Founder is taking home $400-500k in profits. I actually think our ecosystem benefits from 1,000 of thes...

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