A short excerpt from a YouTube video by Lori Harder in which the speaker reflects on past fundraising (about three years prior), noting that when they raised money profitability was deprioritized in favor of growth. The speaker argues the landscape has shifted: profitability now provides leverage and power, and advises new business founders to prioritize and maintain profitability rather than rely on raising capital.
If I had known what I know today, I don't think we would have ever needed to raise money. I have no regrets. We have incredible investors. Just incredible. They're so supportive, so kind, so helpful. But I think a lot has changed in the landscape. Right. Because when we raised money, it was a different time. And it's funny because it was only three years ago, but it was a different time. It was totally different. Profitability was not seen as an important message. Growth at all. Exactly. Exactly. So that has shifted. Being profitable gives you a lot of power. And so what I would encourage people to do if they're starting a business right now is never let that slip, because you hold power when you have money.
