Whether you are looking to grow your start-up or are looking for fresh talent to add to your booming California business, utilizing investors is an excellent way to gain access to industry knowledge, strategy and financial support. While it is critical that you find investors, who share your passion for your product or service, it is equally as important to look at other details that will greatly support your mission and success.
According to Inc., choosing to work with an investor can be one of the most crucial business decisions you make regarding the growth of your company, but it can also be difficult to sever if things do not turn out as you had envisioned. To give yourself the best chance at finding partners who fully support your mission and can help you develop competitive market strategies, these are some of the things you should look for in your search for a good investor:
- Missing pieces: Assess where there is a lack of depth to your company and seek for an investor who has the ability to provide the missing pieces. This support can come in the form of core competencies and experience.
- Compatibility: While the idea of having access to money is exciting, remember that the most important reason you need investors is to have reliable partners to facilitate your company’s success. Look for investors who are compatible with your company’s culture and vision.
- Time: Before committing to a partnership with any investor, be sure that they are able to provide you with the time your company will need to reach its goals. Likewise, ask questions about the timeframe for the investing partnership so all parties are in agreement with important terms and conditions.
The information in this article is intended for educational purposes only and should not be taken as legal advice.