I’ve had a few people reach out to invest in my company. I’m always flattered but turn them down because…
Outside interests want substantial, immediate returns - either stated or inferred.
The opportunity cost tends to be to rob Peter (long term) to pay Paul (short term).
Pressure to make decisions that can impair reputation, long-term processes, etc.
My customers are my venture capitalists.
They are the ones providing the capital to help me continue to grow.
I just need to stay disciplined. Track growth of cash coming in with my business' current abilities to handle all of the work.
Internal growth keeps me accountable to the people who matter, my customers.
Why do I care so much about customers?
Not only are they my venture capitalists, they are my salespeople.
Virtually all of my business has grown via word of mouth.
And as I grow I need to build my team to have the same reverence for our sales/venture capitalist/customers as I do.
That takes a little more time, thought and love then throwing cash and bodies at growth.
Without it, my business is nothing more than average.
So the safest route is to grow internally.
It all comes down to creating value.
Not dollars. Dollars are a yardstick, a measure of value given. Value is time saved, great product, smiles, how one is treated and going above and beyond what people expect.
If you enjoyed this, I occasionally send out a newsletter called the WoodShedd.
Digging hard into the mechanics of business, investing & leadership.
Updates on building my business (like the above).
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