My First Million

The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.

Decide whether to raise venture capital or bootstrap a profitable business

Early-stage entrepreneurs with functioning business models showing initial traction

6-12 months for initial decision, revisited at major growth milestones

What Success Looks Like

Making optimal funding decision that aligns with business potential and founder goals, avoiding premature scaling or missed opportunities.

Steps to Execute

Honestly assess total addressable market size and competitive dynamics

Calculate current unit economics and path to profitability

Evaluate whether competitive moats require scale to defend

Consider personal financial situation and risk tolerance

Model bootstrap vs. VC scenarios over 5-10 year timeline

Checklist

Business generates positive unit economics

Clear path to $50M+ revenue without requiring billion-dollar market

Competitive advantages don't require massive scale

Founders comfortable with slower but sustainable growth

Market timing doesn't require rapid expansion to win

Inputs Needed

Current revenue and growth metrics
Market size analysis and competitive landscape
Unit economics and contribution margins
Cash flow projections under different scenarios
Personal financial requirements and risk tolerance

Outputs

Funding strategy recommendation with rationale
Financial projections for chosen path
Risk assessment and mitigation strategies
Timeline for decision checkpoints

Example

“University enrollment software company has $600K revenue, clear path to $50M, but limited competitive threats. Better to bootstrap for sustainable growth rather than raise for unnecessary scaling.”