That puts you in a difficult position. VC works best when you are confident that you have traction, the market is large, and you need capital to grow. Mark Suster equates VC funds to rocket fuel. but he also points out the risks if you don't become big:
Raising venture capital is like adding rocket fuel to your business and for most businesses this a) isn’t warranted b) creates the wrong incentives and c) even if it is successful means that the founders don’t make enough personal money when the ultimate business is sold.
This is a table I found helpful to visualize the likely financial outcomes based on the ultimate size of the business
So the first decision, I think, is are you the right type of company for VC.