48: When Is the Right Time to Take Outside Funding?

July 5th, 2018 · 31 mins 12 secs

About this Episode

Derrick was hoping to finish mock-ups for communication flows inside Level to get feedback, but that turned out to be a lofty goal that he is still working on. The process of designing Level has generated more questions than answers and minute details that Derrick needs to address. This is the real work happens.

Congrats to Ben, who finally crossed 10,000 followers on Twitter. He uses Twitter as a way to provide value, be useful, and build relationships. Also, he launched the Code Quality Challenge sign-ups and a private podcast to share information with people who are interested in Tuple.

Today’s Topics Include:

  • Interest in seed funding? Different ways to raise funding
  • Being in complete control of your destiny and avoiding failure
  • Doubling down to take investments; what’s it like to be in a business environment that received funding
  • Rob Walling’s experience with funded companies; listen to a recap of 12 Lessons I learned Moving from Bootstrapped to Venture Backed
  • Personalities and psychology of founders impact own vs. others’ money
  • Flexibility: Choose to push hard and make something profitable or not
  • Head lamp requirement to enjoy the great outdoors, and how being tall has its benefits

Links and resources:

Derrick Reimer Website
Derrick Reimer on Twitter
Ben Orenstein Website
Ben Orenstein on Twitter
Level
Tuple
Drip
Briefs podcasting service
Microconf
Rob Walling