Dear Fellow Entrepreneurs,
I have been in business for the past 7 years, in a very difficult business at that: Chinese Herbal Medicine. It`s a very obscure niche, as I am sure you can imagine. Through out the years, my business partner (also my husband) and I have debated whether or not if we should seek funding, either from an Angel or a Bank.
First, let me give you a little background. We are very industrious people who have built our business on a shoe string through many trials and tribulations. We`ve learned that the best model for our business at this point is to sell online. We are now at a point where I would feel good and comfortable getting a loan because I am confident that we have a "stable" customer base and are starting to build some strong roots, and that we could easily expand upon this foundation. I do think that gaining some investment capital at this point would enable us to reach a wider market and continue to innovate. I for one, hate being constrained and want to always more forward.
But... getting a loan, from either a bank, is still risky. We`ve sacrificed quite a bit for what we have now. We`re safe, we`re secure. We`re growing quite nicely being where we are with minimal debt. There is a big part of me that says be grateful for what you have, especially during a recession... ride it out and continue to put your back into it and build sweat equity.
When do the potentials out-weigh the risks?????????????????
I keep salivating on this question. Any thoughts??
HeavenOnEarth12/19/2008 11:00 PM