A successful business builder with a 20-year track record in offline and online businesses, consulting, and start-ups, Mike studied at the Technical University of Denmark and Copenhagen Business School. Initially Mike worked in an aggressively expanding corporate where he learnt to successfully integrate a string of mergers, harnessing rapid growth. Since then he has built 2 consulting companies, launched online and offline, built large campaigns, successful teams, and built a business from 0 to millions in sales.
Mike helps forward–thinking businesses, and mentors/coaches business owners to ensure their business becomes a resounding success.
Mike is the presenter of ‘Lead Generation for business’ both online and with live audiences, and wrote the corresponding book.
Dentists will generally look at anything that increase the value of their time. There is a reason Invisalign has swept the globe. If you're selling something of lower value your cost-of-sale could be too high, so find somebody you can piggyback on, where your product complements what they have even if it means giving away half the revenue to them.
I have been through something similar in recent months. I agree with the above answers you need to set a valuation now. But you also need to set a valuation 2, 3 and 4 years out. Based on EBIT and a reasonable projection. More importantly you need to forecast how much more capital you will need. Take a hard look at what you need to do. Double it. Assume the next round will dilute both you and your co-founder. What will the picture look like after that?