Doug Mack: When should you raise funding?

"We are fresh off the heels of a $40 million fund raise. The advice I follow in this is the one I give to most entrepreneurs: the best time to raise money is when you actually don't need it. That is going to give you tremendous operating flexibility as you grow your business. It's also going to put you in the best negotiating position as you work with venture capitalists to put a deal together. The number one job of a venture CEO is what I call DROOM—don't run out of money. And you need to secure the future of your company, because many great concepts have been blown by running out of cash at a critical time." — Doug Mack

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