In Show 049 – Top 5 Things to Look Out for With an Investor originally broadcast on Facebook Live on Monday 8 January 2018 where we explore this interesting topic.
Today on Fast Fix Monday we want to continue our discussion about bringing investors into your business. Having a fresh injection of cash can be a great way to grow your business – but there potential pitfalls. In no particular order here are the top five things you need to know before getting an investor.
1. An investor should be a partner
You don’t just want to have some random person investing in your business. You need a strategic partner that can help you guide and grow the business. You need to look at them closely to make sure that it’s going to be a good relationship.
The person you’re bringing on needs to have a good reputation in the industry. In a business you may need future investors so you need to make sure everyone on your team is well-know and credible.
3. Find a well connected investor
The investor you’re bringing into the business will ideally be able to open new opportunities for the business as well as personal connections that will help you to grow.
4. Entrepreneurial spirit
Building a business from the ground up can be a hugely stressful experience and your partner has to be able to weather the ups and downs. Finding an investor that be a rock solid partner even during the worst of times is critical.
5. Find a strategic investor
You may be great at marketing or some other aspect of the business but everyone has weaknesses. Finding an investor that can shore-up your weakest point is hugely important.
More about this Show
We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms. Most importantly we want to help you to develop a plan to take your business successfully into the future. There’s a startling statistic the underscores the importance of developing a solid plan. The majority of business owners are just seven months away from losing everything. A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly. Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients. We want to close that gap once and for all. We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.
Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV. We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with. Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.