Starting your own business is an exciting but overwhelming time for an entrepreneur, so we have put together some helpful information to guide prospective start-ups on the Isle of Man.
Tips for getting investor ready
1. Do your research
The pitch-all method doesn’t often lead to successful investment deals. Do your research, and approach investors in your industry/sector or those who align with your business strategically. This means the value will not just lie in the money, but in the advice and help they can offer you.
2. Build the relationship
Your investor is NOT a cash machine. You must educate yourself and understand them in order to get better deals done.
3 Get properly investment ready
When you’re pitching to an investor, it’s important not to just focus on your product or services. You must think about what the agreement looks like, and consider practicalities such as Due Diligence.
Often there is too much discussion about the business, and too little investment.
It is important to know exactly what you are going to spend their investment on, and when.
Other Important things to consider
Make it easy with the right tools