I'm a big believer that if you need someone else's money just to get something off the ground, it doesn't mean enough to you. I think people are too quick to give away all their work.
You've got a consulting income, which you admit you could increase if you take focus off your project. Is it a bad thing to do this if it means you remain self funded?
How long does $25K buy you? 3-4 months? What could you do in 1 month? Could you release? Why/Why not?
The lack a money is a wonderfully powerful constraint in proving your idea. It's better to force you product to confront the realties of the market it is in (i.e., is it going to float or will it sink) as fast as possible. Taking capital can sometimes delude you into believing answers to this question that aren't necessarily the correct ones. It gives you an inflated sense of positivity.
we didn't start this business to be consultants, I hate consulting...I did it for 6 years before we started our company, we want to build our product first and foremost. we've spent the last year writing software for other people (again), and I am tired of it.
Okay, so after a year of development, my first question to you would be: where is your product?
I've looked through your comments, and I suppose you will take this investment. That's certainly your prerogative. I would say though that you should put all that money into releasing whatever you have now in some way or another. Kill whatever feature isn't done. Try to find an audience of potential customers that will be willing to help develop your software to finish. Some may even be willing to pay - you'd be surprised.
Actually, we've spent the last year as _consultants_, we haven't been able to develop the product yet. We are starting that this month. Also, we are approaching potential schools to sign up for the project up front as well, giving them a deadline release date.
I'm a big believer that if you need someone else's money just to get something off the ground, it doesn't mean enough to you. I think people are too quick to give away all their work.
You've got a consulting income, which you admit you could increase if you take focus off your project. Is it a bad thing to do this if it means you remain self funded?
How long does $25K buy you? 3-4 months? What could you do in 1 month? Could you release? Why/Why not?
The lack a money is a wonderfully powerful constraint in proving your idea. It's better to force you product to confront the realties of the market it is in (i.e., is it going to float or will it sink) as fast as possible. Taking capital can sometimes delude you into believing answers to this question that aren't necessarily the correct ones. It gives you an inflated sense of positivity.
Good luck to you, either way!