You really want a company full of missionaries, not mercenaries.

Generally, you want to raise capital either when you have to or when it's really easy. If the company desperately needs money, and they can't figure out any other way, then they need to raise money. Or if someone's offering you easy money on good terms, you should take it because you can use it for good things.

Don't let yourself make excuses for not doing the things you want to do.

Don't hire for the sake of hiring. Hire because there is no other way to do what you want to do.

If you have the opportunity to go be an early employee at a company that's just going crazy, and you believe it's the next Facebook or Google, you should go join that company.

Set a clear, easy-to-understand vision for your company, and make it be a mission people believe in.