Do I have to keep mentioning Mark Cuban's blog? Do I have to point out that if you consider yourself an entrepreneur, you would be foolish not to read every word he writes and learn from his experience? Man oh man.
Rules of Success. #1: Sweat Equity is the best equity!
Rule #1: Sweat Equity is the best start up capital.
... The minute you ask [outside investors] for money, you are playing in their game, they aren’t playing in yours. You are at a huge disadvantage, and it’s only going to get worse if you take their money. The minute you take money, the leverage completely flips to the investor. They control the destiny of your dreams, not you.
... The reality of taking money from non family members is that they are doing it for only one reason, to make more money. If you can’t deliver on that promise, you are out. You will be removed from the company you started. You will find someone else running your dream company. If this sounds like a scene out of the Sopranos or an episode you would watch on TV about a loan shark, you are right. The only difference is that it’s all legal.
... The reality is that for most businesses, they don’t need more cash, they need more brains.