However, venture capitalists do not simply give you a big payout and walk away.
By its very nature VC funding is high risk – they are taking a chance on you, and they will protect their investment. This means they will set very clear deliverables with you, they will expect certain goals to be met, and they will have an equity stake in the business.
Be prepared to involve your VC funder in all big business decisions. You will have experienced mentors to assist and advise you, which can be a great benefit, but if you do not like working with others, the relationship will sour.
You will also need to meet their goals, or have a very good reason if a specific marker was not reached. Remember, if the business does not deliver, the VC firm will be able to sell the business to recoup its costs as well.
When you accept VC funding you accept all the responsibilities that come with that funding. It’s a great way to grow a business, but it’s not without its own strings.