This July 4th, we declare independence! We have bootstrapped since day one but always assumed we'd need to find outside investors in order to grow our business. While we had all the faith in the world in the value of our products, we doubted ourselves as individuals. Were we really business savvy enough to grow a national brand on our own? Five years ago, we almost succumbed to the many voices telling us we weren’t. Thankfully our guts stepped in and saved us from what definitely would have been a bum deal.
We began 2017 with the intention of revamping our business plan, updating our pitch deck and preparing ourselves to put Evermore “out there” again. We had capable and connected people willing to help us, and confidence that we were attractive investment. Yet for some reason, every time we collaborated on anything financing related, it felt like busywork, devoid of any of the joy or sense of accomplishment that comes with almost every other aspect of this business. We were seriously dragging our heels even as more recent “competitors” were closing huge fundraising rounds.
By February, we found ourselves not working on our business plan for good reason. Our sales were picking up rapidly. Suddenly we didn’t have time to devote to planning, because we were too busy doing—doing deliveries, doing shipping, doing customer service emails, doing production. That’s when it dawned on us, maybe we could do this on our own? Like any growing business, we need capital; however, there are options that don’t involve giving up an ounce of control over what we do. Instead of selling a piece of Evermore to a wealthy individual or entity, we could take out a loan or engage in creative crowd funding.
We hear time and time again from people who’ve “been there” that the second you give up significant equity in your company, creating a return on investment becomes your top priority. Our top priority is, and will remain, making the best gently cooked food out there and being there for our customers.
Happy Independence Day! We wish you the freedom and courage to doggedly pursue your own passions.