Interesting. I love hearing success and failure stories from other entrepreneurs as it puts into light a lot of the similar feelings and thoughts that I have on a daily basis. Really great read and something I have been considering writing (with regard to my own startup).
Contrary to a lot of the comments thus far, I felt less excited and more stressed throughout the journey. I dont think this is a bad thing because it is one of the best parts about being a startup founder (IMHO). The roller coaster ride that is bootstrapping is so addictive that I have heard myself on a number of occasions say that I could do this forever (hopefully with some luck).
My question to the community (or the author), is why not negotiate better terms with one of the offers for 51%? Surely, if an entity was interested enough to want 51% there might be terms where something more favorable to the founders could exist, no?
I know faced with the opportunity myself, I have no idea what I would do, but it seemed as though one of those deals or relationships could have spring-boarded the business.
why not negotiate better terms with one of the offers for 51%? Surely, if an entity was interested enough to want 51% there might be terms where something more favorable to the founders could exist, no?
We attempted to negotiate with all three, but all three were completely unwilling to budge on the need to control. The weather corporation was likely not thinking as an investor, but more as a talent acquisition/bolt-on to their operation. The other two were veteran CEO's who both said (as if they were reading out of the same playbook) "I don't do anything I can't control."
Contrary to a lot of the comments thus far, I felt less excited and more stressed throughout the journey. I dont think this is a bad thing because it is one of the best parts about being a startup founder (IMHO). The roller coaster ride that is bootstrapping is so addictive that I have heard myself on a number of occasions say that I could do this forever (hopefully with some luck).
My question to the community (or the author), is why not negotiate better terms with one of the offers for 51%? Surely, if an entity was interested enough to want 51% there might be terms where something more favorable to the founders could exist, no?
I know faced with the opportunity myself, I have no idea what I would do, but it seemed as though one of those deals or relationships could have spring-boarded the business.