Q&A: "I need new funding but I'm worried it will distract me from the business"

Management Today’s resident agony uncle, Octopus Group chief executive Simon Rogerson, soothes another founder’s dilemma, this time about funding fast growth.

by Simon Rogerson

Question

We’re a small business in the beverage sector. We’ve recently grown from four to eight people, and won orders from national-level customers with 90-day terms, so while we’re growing organically we’re not exactly rolling in cash.

It feels like I’m either going to have to put the brakes on growth a little and stop looking for new retail customers, or take investment to grow the team and do more marketing. I don’t want to stall but I don’t want to be overstretched either – I know some founders who got so distracted by raising investment that they took their eye off the business itself. Do you have any advice?

Simon Rogerson says:

"The first question – should you raise the money – is an easy one. The answer is yes. Your business is not only up and running but it already has orders from some large, national businesses. In your shoes, I’d be looking to leverage this success as fast as possible.

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