Everything costs money so when it comes to taking your business to the next level you may need help from some investors. Investors can be so valuable for small businesses but they’re not easy to come across, especially one that fits your business. Read these 4 to consider when it comes to your investor search.
1. Know what you’re looking for in an investor
Are you looking for just one investor? Do you want the investor to be heavily involved in your business? These are just a few questions you need to think of before you begin your search to make the process easier for you. Also, how close of a fit do you want the investor to be when it comes to the brand and culture? It’s not about what money they bring but what the investor can add and bring to your business.
2. Go prepared with more than just numbers
Numbers and statistics may be the first selling point for the investor but they’re always looking for something more since an investment is a long-term deal. Present a plan or goal you have in mind for your business in the future. Think of this as you painting a picture of what their money is going to contribute to within the business and what the end goal is for you since this end goal should help them increase their profit.
3. Show them your personality
An important thing to remember is that investors are not only investing in the business but you as a business owner. They look for opportunities in businesses and in people. The high amount of hard work and passion for small business owners to be successful is huge, so consider showcasing it. Investors respond to strong work ethic and confidence so communicate this when possible.
4. Don’t be afraid to say ‘No’
If you get an offer, don’t feel inclined to accept it straight away. Try to look past the money before finalising any deals and evaluate everything. Is your decision the best decision for your business? This goes back to your preparation on what you were looking for in an investor and seeing if they check every box. An investment deal is critical to get right, even for the smallest amounts of initial seed funding at the beginning of the business journey so remember to take enough time to review it.
At Kara Accountants, we get to know your business and support you wherever you need it. Contact us today for any help you need!