You covered all the bases of taking in outside investors. I’m not sure you covered creative control though. Often it is taken for granted that business will continue as normal, but if you have enough dilution of your stakes you can find an investor may become overbearing when his investment goals are not being met.

The other factor to consider is that an outside investor can often times bring skills into the business or access. This can be investment banking skills for your eventual buyout. It could also be access to larger clients.

There are many pros/cons, but you’ve covered many of them. It is definitely not an easy decision to make.