A couple of days ago, I wrote a pros and cons list for an investment offer on the table.
I turned it down.
In the end, my gut said no. I'm glad I took the time to let my feelings settle. It's easy to get carried away with the idea of "being invested in". Wild what that does to one's ego. I started post-rationalising why it was a good idea. But the more people I spoke to, the more I realised I needed to slow down and look at the situation objectively.
Ultimately it came down to this: I'm on the cusp of a new product launch. I don't need any extra capital to make it happen. Why would I give away a chunk of equity, just before I increase the business’ value?
The only limitation on Product Club right now is my own time. The capital wouldn't have been enough to multiply my efforts. It would've only given me peace of mind that my bills were definitely getting paid.
It's been a useful exercise in reframing my perception of the business. It's shown me where my priorities are. If this was a $1,000,000 investment, then looking at the business model - the return exists in expanding the publishing side.
The community has a ceiling and doesn't respond well to rapid growth. That's helped me see that keeping the community tight-knit and small is an advantage. Especially when the default desire is to grow that lucrative recurring revenue figure.
James Clear tweeted recently that it wasn't ever time, money or a network holding him back. It was always lack of courage. I'm grateful to have had this experience. As you can see, it has been a blessing and helped reaffirm what I'm doing, why I'm doing it, and what direction to head in.
As always, the ego is the enemy.