Tired of bootstrapping and ready to raise money to expand your business this year? Congratulations. That’s the first step toward achieving your dreams. Too many of us, especially women, constrain our business’ potential by scraping by on a tight budget or maxed out credit cards.
But before you dive in, it pays to get really clear on your goals and values. Your goals and values are the foundation of your capital-raising plan. Skip this step, and you run the risk of raising money in a way that will require you to sacrifice what is most important to you.
Too many company founders end up with investors who pressure them to do things they would rather not do—and sometimes even fire them from their own company. (Just google “VC horror stories”!) But taking on outside investors does not have to mean selling out.
The truth is, there are many sources of investment capital, and I can almost guarantee you that there are investors out there that are right for you. The key is to design your capital raising strategy from the very beginning to avoid future conflicts with your investors.
In my book, Raise Capital on Your Own Terms, I advise entrepreneurs to take some time to get as clear as possible about what’s important to them and their business, before they even think about approaching potential investors.
Here are some exercises to help you prepare for a successful capital-raising strategy.[…]
The post Entrepreneurs: Looking to Raise Capital in 2018? Do This First. appeared first on Locavesting.
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