Many founders have venture capital - VC - investment on the brain from the get-go, not only for the funding itself but for the public and personal validation that comes with it. But don’t assume the old idiom 'the sooner, the better' applies here. It’s critical to be cautious about the why, when and how of choosing a VC partner. It’s going to be one of the most important long-term relationships you’ll ever have, and you may only have one chance to get it right.
You may think your thriving start-up is ready - indeed, needs - to start spending serious money. A quick way to find out is to answer the following two questions: Can you clearly articulate the problem you want to solve and who will benefit? Can you map out exactly how the VC money will be used? If your responses come with ease and confidence, it could indeed be time. But reaching the point where funding could make sense doesn’t automatically mean going after it.
Image: Patrick Llewellyn, CEO, 99designs.
