When it comes to raising money, many business owners skip the preparation stage and launch right into searching for dollars. Before you look for investors:
- First, write your business plan. After you prepare the plan, write a two-page executive summary. This will be the part read most often.
- Have your accountant prepare historical financial statements. Investors usually like these prepared by an independent outside party.
- Next, line up your references. Investors may wish to speak with people you do business with, such as suppliers, customers, potential partners, or professional advisors.
- Figure out what you do – and how to best express and introduce your business. When you’re asked what you do, you want your answer to be memorable.
- Finally, identify your potential investors. Once you’ve determined who your potential investors are, plan ways to meet them. Arrange as many personal introductions as possible.
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