Exactly one year ago, when BizzFlip was but a vision, a team and a catchy logo, Joe and I agreed that (if ever needed) we would only accept outside funding if and when the following conditions were met:
1. Prior to considering any investment from the outside, we must first have succeeded in growing the community to a point in which it was obvious that scaling up to the next level would only be a matter of allocating greater capital. [In other words, we wanted to be able to quantitatively demonstrate the great potential and scalability of our vision before an investor would have the opportunity to buy into the team.]
2. Once we attained the point of growth described above, we would explore any and every option available that could quickly and efficiently bring us closer to our mission of becoming "the world's largest and most recognized online classified community for entrepreneurs and business professionals." This means that we are currently shopping around for the investor(s) and/or partner corporation who will mutually benefit from the continued steady growth and success of our niche business community.
3. Lastly, we agreed that when the time came we would create a free classifed ad under BizzFlip's "Venture Capital" section just as every other company in the world seeking funding would, demonstrating to the community our strong belief in the platform.
At our annual board meeting in mid February, we concluded (based on various criteria) that we have indeed successfully reached the point of growth in which by entertaining an investment option from the outside, we would be able to grow the community at a much more precipitous rate, ultimately benefiting both our registered users and visitors to the community...
I would also like to take the opportunity to express how fortunate I feel not only to be at this exciting point in BizzFlip's life, but most importantly, to have the opportunity to work alongside BizzFlip co-Founder and CFO Joe Paone. Although Joe and I have talked about starting a business together since high school, and even though my instincts always told me that Joe was born to be a successful businessman full with integrity and determination to see things through, I never could have imagined just what a hell of an entrepreneur and business partner he's proven to be.
We'll keep you updated, and always feel free to contact one of us with any questions or feedback. I'm certain that we would not be in this exciting position if it weren't for all the driven entrepreneurs out there who first took a chance on BizzFlip and have stuck around for all the action.