Answer: Weigh your capacity
Holding out means you have a bigger piece of the pie, right? If you can do this on your own, go for it! If you have the resources, time, energy, connections, etc., then keep 100%. But, if you’re already looking for investors, I have a feeling you’re missing something. There’s a little (or big) something you need that would be helpful to have. You just need to decide if it’s okay to give up a little bit of the pie, right?
The pie analogy
I would prefer to have a pie worth $1,000,000 and keep 70% of it, then have a pie worth $100,000 and keep 100% of it.
100% percent of a $100,000 pie is $100,000. Yippee for me, I get $100,000 in my pocket if I do well.
If I have a $1,000,000 pie, but had to give up 30% to an investor which enabled me to market better, push this product faster to the marketplace, communicate the story better, and bring on the staff I need to expand, then sure, I gave up $300,000, but I still get $700,000 right? In my book, $700,000 is better than $100,000.
Yes, keep all you can, but at the same time, something is better than nothing.
Go make a $1,000,000 pie!