Running a business means you have to find the right ways to get the fun you need for your business to grow. Investor is one of the great resources for funding your business. However, it is not an easy task to find the right investor. There are lots of investors out there you can find but not all of them will be willing to invest in your business. However, it is also not easy to find the right investor because of limited time and information. You can only do so much to know about the investor. There are many things to consider when choosing the right investors including their reputation, track records, partnership, etc.
Main things to look for when finding investor
Try to shift your focus for awhile and look for the bigger picture than money. Forget about taking money from investors. Instead, search for investors who can help you in more ways than investing their money.
Connection
Strong connection to the industry. It is important thing you have to look for from an investor. If they have it, it means they can help you with connections and introductions in distribution, sales, or product development. You don’t have to aim for their direct connections. Their network is just as beneficial for you because it can make significant impact to your business growth.
Experience
Actual experience. It is also important to look for when you search for the right investors. Their experience of product or the industry itself will be beneficial for you. Investors who have experience in creating similar service or products as yours might have secret of success under their sleeves. They have better understanding of the market and the path you will be venturing. You can take their advice or insights so you can avoid unnecessary mistakes.
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Coaching
Coaching qualities. When investors have ability to coach you up, you gain more learning opportunities. It is even better when they have already experienced firsthand the business themselves. They know the road and the map of the success. Or at least, they know the possible traps or mishaps you can avoid. They will guide you how to make good decision, manage team, balance your work-life, and handle obstacles or pressures.
Helpful
The ability to provide help. Investors who care for you are not easy to find. Finding an investor who is willing to give you help by providing advice or insight is challenging but not impossible. Investors who always turn around when asked for help are not the kind of people who you look for.
Interpersonal qualities
Caring investor. It is also important to find an investor who cares for you personally and professionally. Keep in mind that investors do a lot of deals. Thus, you have to find an investor who is committed to your success. Find an investor who will still care about you even if your business fails. Keep in mind that you also have opportunity to choose from several investors. Therefore, you must have something to evaluate and choose the right investor.
