22 April 2019
There is a dangerous landscape out there at the moment where business owners are giving away swathes of their businesses in the very early days.
This propensity for entrepreneurs to sell shares at the startup stage, this Dragons’ Den-style focus on getting investment, giving away stakes in their business for practically peanuts. We’re seeing stories like these in the headlines time and time again at the moment.
So how do you avoid falling down like that?
When you look at business financing and investment, it is certainly not easy. I’ve made mistakes along the way, and I am not ashamed to admit that. In this podcast I talk through some of those mistakes, those that I have made and that I have seen others around me make, to help you avoid those pitfalls.
Firstly, all too often, people looking for investment are looking for an investment in a better lifestyle, not for the business itself. The single most important question to ask before even beginning the investment journey is why. Why do you need investment? Why does your business need it?
If it is for an office kit out, or for a bigger salary for yourself, you have the wrong motivation! For every penny you spend on yourself, that’s a penny you can’t spend on your customers, and that’s going to have a detrimental effect on your business in the long run.
This episode is all about my experience – and that of some of the extraordinary business leaders around me – in business financing and investment. Let me know what you think in the comments below.
- An investor needs to offer guidance and nurturing, not just financial backing
- The lessons that I have learned and the mistakes I have made investing over the years
- You can only spend that money once, and when you do, you can never get it back.
- Everything comes at a cost – how do you choose who you invest in, or who invests in you?
Host: Lawrence Jones MBE
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