Hi David, good question! The answer is a matter of personal preference and subject to your constraints of course. The desired outcome for most when raising capital is to grow the business disproportionately more than the dilution you suffer from giving away equity. This is called 'accretion'. Where the preferences come in are mainly around being held accountable to outside investors - this is the case in both private and public markets. The constraints are mainly around your ability to attract enough capital to do what you need and grow the business. If your happy with outside investors and want to grow then go for it. But be aware raising equity or debt will magnify what's going on in your business now - make sure you have a solid use for any investment you take and consider not taking anything if you don't get what you need.