When someone invests in your business, they are not just giving you money — they’re engaging in a relationship with you and your company. The people who invest in your cause are hopefully going to be around for a while, so it’s important they share your ideals and visions. You want you investors to be just as passionate about what you’re doing as you are. Here are some things to consider when seeking investors for your business.

Who Do You Look Up To?

Think of who your mentors have been throughout your journey to becoming an entrepreneur. What about these people do you find inspiring? How did they find success?

If you have personal relationships with any of your mentors, make sure they’re aware of what you’re trying to do. Buy them a cup of coffee and show them your business plan. Having successful people from your field who are willing to vouch for you to potential investors will be greatly helpful. It’s also likely these people have a vast network of connections and will be able to direct you toward worthwhile leads.

How Much Money Are You Trying To Raise?

The type of investor you are targeting is going to vary with how much money you are looking to raise. Some bigger firms have multi-million dollar minimums when it comes to what they will invest. Chances are, as a small business or startup; you aren’t looking to raise that much. Your investments are most likely not going to come from firms, but instead, private citizens and business people.

What Kind of Investments Do You Want?

The type of investor you’re looking for is going to be different depending on what stage your business is in. If you are just starting out, you may be looking for an equity investor who puts money into your business in exchange for partial ownership or a share of the profits. If you are already established and need money for a specific cause, such as new equipment or a build-out, you might prefer someone who is willing to loan you the amount of money you need for the job.

Different people will be more open to different types of investments, so have open discussions with your investors to determine the best option for both parties.

How A Business Coach Can Help

Before you even begin looking for investors, you’re going to need a good business plan and an intriguing pitch. At ActionCOACH Tampa Bay, our skilled business coaches have the knowledge and experience to set you up for success. Call today to see how we can help you find the right investors for your business!