One of the most common questions I get from promoters:

"Should I raise money?"

Sometimes it's a startup founder who can't afford consistent events. Sometimes it's an established promotion trying to scale. Sometimes it's someone who's stuck and thinks money is the missing piece.

The answer is always: It depends.

Money solves problems. But it also creates new ones.

And if you've never raised money before, there are things nobody tells you until it's too late.

So here's the real picture.

Why People Want to Raise Money

The reasons are pretty straightforward:

Startups don't have enough capital to put on consistent events, sign fighters, invest in production, or market what they're building.

Established promotions know what's working, but they need money to do more of it—bigger venues, better fighters, stronger distribution.

Stuck promotions think money is the reason they can't break through. If they just had more capital, everything would click.

All of these make sense. Money does unlock things.

But here's what most people don't think about.

The Cost of Raising Money

When you bring in investors, you're not just getting capital. You're getting:

Dilution. Your ownership gets smaller. If you own 100% now and raise money, you might own 70%, 50%, or less depending on the deal.

Opinions. Investors have a say. Some are hands-off. Some want weekly updates. Some will question every decision you make.

Pressure. Investors want returns. If you're not growing fast enough or showing a path to profitability, they get nervous. And when they get nervous, things get uncomfortable.

More work. Raising money isn't a one-time thing. It's reporting, pitching, managing relationships. And once the money is in, the expectations go up. More events, more content, more everything.

Some founders realize the amount of work they're already doing is too much. Then they raise money and it gets worse—more revenue, sure, but also more stress.

When It Makes Sense

Raising money makes sense when:

You have a plan. Not a vague "we'll figure it out" plan. A real one. You know your numbers. You know what the money will unlock. You know how it moves you from point A to point B.

You want to grow. If your goal is to scale—more events, bigger distribution, national or global reach—then outside capital can accelerate that.

Your model works. You're not bleeding money. You're not stuck because of a broken product or bad operations. The foundation is solid, and money helps you do more of what's already working.

When It Makes Zero Sense

Raising money makes zero sense when:

You're already losing. If the business model doesn't work, money won't fix it. It'll just make the hole deeper.

You're trying to fill holes. If you owe money or burned through previous rounds and now you're raising again just to pay back old investors, that's a red flag. It's not growth. It's survival.

You haven't fixed operations first. If your product isn't good, your business model is broken, or your team can't execute, money won't solve that. Fix those things first. Then raise.

I've seen big promotions raise round after round, and from the outside it looks like growth. But sometimes it's just filling holes with new money. That's not a business. That's a ticking clock.

What You Need to Know Before You Raise

If you decide you want to raise money, here's what you need to understand:

Every metric of your business. How much money do you make? How many tickets do you sell? What are your expenses—production, fight card, marketing, overhead, all of it?

Your revenue model. Are you just selling tickets? Pay-per-view? Sponsorships? Distribution deals? Merchandise? Investors want to see multiple streams, not just one.

Your pitch. Raising money is a completely different job than running events. You're not promoting fights anymore. You're convincing people why your brand is better than someone else's and why they should bet on you.

It's exhausting. And it takes time away from actually running the business.

The Positive Problem

Sometimes founders have the opposite issue—too many people want in.

Combat sports is hot right now. It looks sexy from the outside. So investors show up who weren't around when things were hard.

That's great, but it's also a test. Because when things get hard again—and they will—most of those people disappear.

You need to know who you're bringing in. Are they here for the long haul, or just for the good times?

The Questions You Need to Ask Yourself

Before you raise money, be honest with yourself:

• Do you want partners?
• Can you handle critique and outside opinions?
• How long do you want to do this?
• Are you fully committed, or is this a side project?
• Can you work with others, or do you need full control?

These aren't small questions. Because once you take someone's money, you're tied to them. And if the relationship doesn't work, it's messy.

Also: once you make money, what do you do with it? Reinvest it back into the business? Raise more from outside? Take some off the table?

These are decisions you need to think through before the money shows up.

Growth vs. Profitability

There's another angle here.

Some companies raise money not to be profitable right away, but to grow fast. They prioritize eyeballs and reach over revenue. The idea is: get big, get attention, then monetize later through sponsorships, media rights, or exits.

Tech companies do this all the time. AI companies are valued at billions but don't make much money yet.

Does this work in combat sports? Maybe. Some promotions have raised on the promise of growth, not immediate profit.

But here's the difference: we're not software. We're live events with real costs. Fighters, venues, production—it all costs money every time.

So the "grow first, profit later" model is riskier here than in tech. You need to know that going in.

The Bottom Line

Raising money isn't good or bad. It's a tool.

If you use it right—when your foundation is solid, your model works, and you have a clear plan—it can unlock real growth.

If you use it wrong—to patch holes, avoid fixing broken operations, or because you think it'll magically solve your problems—it'll make things worse.

Most promoters I talk to haven't thought through the full picture. They just know they need money and assume that's the answer.

Sometimes it is. But more often, the answer is: fix the business first. Then raise.

Best,

Adam

PS: If you're raising money or considering it and want to work one-on-one, I work with a limited number of people. If you're interested, apply HERE​

PPS: Want to catch up on past newsletters? Browse the full archive HERE​

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