“Know where your line is and don’t cross it. As soon as you cross it, you lose your negotiating powers.”
On this episode
Sean Peace, the founder of an auction marketplace for music royalty streams called Royalty Exchange, tells a captivating story about selling and exiting an unprofitable business in a unique niche.
After two years and $100K in revenue, Peace landed $2 million in venture capital financing to accelerate Royalty Exchange's growth – or so he thought. Venture capitalists aren’t interested in slow growth, but as Peace explains, fast growth may not be the best for every company.
Peace suggests establishing a sustainable, positive cash flow before accepting any outside investments. It is important, Peace explains, to fight the pressure to grow too quickly and invest money wisely.