So you’ve got a great idea. You’ve got plans. You’ve got dreams … but you don’t have the money.
Here’s some things to consider when deciding whether venture capital funding is right for you and your start up, and whether you’re ready to take that next step.
Do you want to be big and successful, but with limited control? Or do you want to remain small and successful, and retain security? Do you want to stay local, or take over the world? Do you want to scale up, or do you want to be robust?
Are you prepared to move locations to follow your dreams? Starting a startup in the middle of nowhere might be great at the start (and an awesome story!) but are you prepared to make the move to Melbourne, Sydney, or even overseas?
Do you have the right team? Do they share in your vision, do they believe in your dreams? Can you count on them, no matter what? Equally, can they count on you? Are you providing them an environment within which they can grow and thrive?
Do you have the right people surrounding you? Mentors are critical for self-development and professional growth. They can give you a different perspective, and help you see clearly.
Are you prepared to fail? You might not secure funding. What next? You might not see the results you forecast. Can you survive? What will you do next?
Do you know the space you’re working in? Who are your competitors? What are they doing? What are other entrepreneurs doing? Who else is seeking funding? What other VC firms are out there?
Venture capital funding isn’t something to be taken lightly, and you might have a bit of soul searching to do before you reach out. But if you think you’re ready, we’re here.