TRC 042: Make sure it’s the right path

Read time: 5 mins

Starting and growing a company can feel like being thrown into an ocean with dozens of directions to swim, and no map to follow.

It can seem like there is only one route for startup founders: raise capital, grow fast, and aim for a massive exit.

But is that the right journey for you?

In a world where venture-backed unicorns dominate the headlines, it’s easy to assume that if you aren’t aiming to raise money, you’re somehow playing a smaller game.

But the truth is: entrepreneurship is hard no matter which path you take, and your success hinges on aligning your business with your values, not someone else’s.

The Misery of Choosing Someone Else’s Path

Imagine dedicating years of your life to building something incredible only to realise that you’re trapped in a path that you didn’t want (I have seen it often).

Raising capital isn’t just about getting funding—it sets you on a course that demands rapid growth, often at the expense of long-term sustainability or your original vision.

If you want to create a steady, profitable, and enduring business, venture capital might be more of a headache than a solution.

You’ll be pushed for growth (despite what promises are made before you take the , and your priorities may shift from building something meaningful to chasing the next round of funding.

The real misery comes when you wake up one day and understand you’ve been walking a path you never chose.

The worst part? You’re now too deep into someone else’s journey to turn back easily.

Understanding Your Own Path

Before you make any big decisions, take a step back and ask yourself the tough questions:

• What kind of business do I truly want to run? Are you dreaming of the massive scale and rapid growth that venture capital can facilitate? Or are you more inclined toward building a long-term, profitable business that offers stability and freedom?
• What does success look like to me? Is it making a meaningful impact, achieving financial independence, or something else entirely? Everyone’s definition of success is personal.
• Am I prepared for the consequences of each path? If you raise venture, you’ll be accountable to investors who expect rapid returns. If you bootstrap, you’ll have slower growth but more control. Both paths are full of hard work and uncertainty—there is no “easy” way.

Do Your Research—And Be Honest With Yourself

Entrepreneurship is not a one-size-fits-all game. Here are some strategies for finding the path that suits you best:

1. Learn from founders who’ve taken different paths. Whether it’s venture-backed, bootstrapped, or something in between, listen to founders who’ve experienced all sides of the spectrum. Find out what they wish they knew when they were starting.
2. Align your business with your lifestyle goals. Want flexibility and a slower pace? Consider bootstrapping or seeking alternatives like revenue-based financing. Want high stakes and rapid growth? Venture might be for you.
3. Evaluate the market and your customers. Does your business truly need to scale fast to win? Some industries demand speed, others reward steady and thoughtful growth. Understanding your market is key.
4. Talk to investors—but don’t rush. If you’re considering venture, talk to investors early on—not just to raise, but to understand their expectations and how they might align or conflict with your vision.
5. Take your time. Founders often feel the pressure to move fast, but the best decisions are made thoughtfully. This journey is uniquely yours, and rushing into a model that doesn’t align with your values can lead to burnout and regret.

Hard Work and Uncertainty Await—No Matter What

There’s no avoiding the fact that entrepreneurship is hard.

Regardless of whether you raise venture or bootstrap, there will be long hours, late nights, and countless hurdles to overcome.

Every path is filled with uncertainty—but the key is to choose the uncertainty you’re willing to face.

Your journey as a founder is personal.

No one else can tell you which path is right for your business.

The most important thing is to make decisions that align with YOUR goals, rather than being swept away by someone else’s vision of success and what the media would have you believe.

It’s your journey.

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