It's all about balance

How much money do I raise?
How much do I dilute before it gets too much?
How much should I have when there is an exit?
How many "good" people do I get onto the team before it becomes one too many?
Do I grow slow, conserve my resources - or go aggressive, push for growth - and assume that i will get more resources (money, people) as things develop?
How much time do i spend on the business? and how much with family?

Each context (person, team, industry, stage of business) has its own answers to the above questions - and many other such questions.

But repeatedly, to me, the answer is coming back to one word: Balance.
Like most other things in life. Too much of any one thing is not such a great idea.

Too much money makes the team lose perspective.
Too little and things get sub-optimal.
Too many good team members leaves very little elbow room for each person.
Too few and the team gets stretched beyond belief.

How does one find the balance? When i talk to friends, advisors, investors, industry experts, i get a lot of useful pointers.
But no one-size-fits-all answer but here are some thoughts:

- Are you in it for the long-term (the *real* long term...i.e. 15-20 years or more) and are building an institution? or are you in it to create an exit in 5-7 years?
- How is your financial stamina? Can you hold on and delay gratification for some more time?
- How is your support structure taking it? What does your family think of your current situation? Will they be happier with a faster liquidity event - and then (if you must) you can start another venture? :)
- Are you comfortable with the investor playing a significant part in your life for the next 5-10 years? More money you take, the higher the significance!
- Are you comfortable with someone else running the business after some time? It might be sooner than you think. If not, go slow -and enjoy the ride.
- Most importantly (IMHO), are you confident of the business scaling with the increased resources (money/team)? If so, go for it! If not, go slow and enjoy the ride till you are clear about the model.
Remember, there are 10 other smart entrepreneurs working on the same opportunity!

Once you see the model clearly, do not under-invest. Opportunities and gaps in the market do not lost for very long.

When you see a winner, bet big - but dont lose balance!