In Show 164 originally broadcast on Facebook Live on Jan 7, 2018 we explore this interesting topic.
It’s our first show of 2019! Happy New Year! On Fast Fix Monday we’re talking about finding an investor for your business. Here are the top five things you need when looking for an investor.
- It’s not just about money
Remember that you’re really looking for a partner in your business. Imagine spending a significant amount of time with this person. Do you actually respect them? If you were stuck in an airport with this person could you stand it?
- Fill the gaps
What are the value gaps in your business that an investor could help fill? This is beyond just money. Look at the person’s skills and experience to see if they can add real value to the business.
- Making the time
Everyone is working with the same amount of time in a day. Just how busy is the potential investor? Can they actually make time for you in the day? If not you may want to reconsider their involvement.
- Long-term or short-term
Just how fast does the investor want to get their money back? Managing
expectations is a huge part of any business relationship. Whatever the time-frame it’s so important to actually talk about that before the invest.
- Due diligence
As with everything else in business you have to do your research. Look at the investors references and ask detailed questions about how they operate. Do they actually keep their word?
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.