I have been considering getting an angel investor or joining an incubator. How long do you have to be "successful"? What is successful to an investor?
More details I'm working on a project that may take a year or two to be successful. If I accept enough money to run one year and then I don't get another investor and run out of money without enough to operate is the business considered failed? What if I took a job and continued to work on it in my free time and a year later it becomes profitable? Can the investors close a business down or prevent it from being successful after a certain period (since they own part of the company). I hope you get what I'm trying to ask with this question.
UPDATE Answering questions below:
I'm just estimating on the amount of work and then doubling it after hearing stories from a few other businesses that said it took longer than they thought. Also, there are many challenges that I haven't solved yet.
Successful to me would be making enough money to run the company and earn a profit. Making it sustainable. Being able to pay back investors. Let me add that I don't know how a typical investor(s) would want to be paid back. Well, what I've read is that investors are paid back if I sell the company or if I go public and they can then sell the stocks on the stock market. Maybe, I'll add this as another question.
You're asking several questions here:
I'll try to answer to the best of my experience
And the questions I want to ask are:
1. How did you reach to the conclusion it'll take 1-2 years to be "successful"?
2. What is even successful in your own book?