6 things to know before you look for funding

Cash is the lifeblood of any business, and at some point, every company is likely to need funding to help it grow. Whether you're seeking £1million in venture capital or £1,000 from friends or relatives, you'll need to nail down a few basics before trying to make your case. Here are six things to you must do before approaching investors for any amount of money. PRESENT A BUSINESS, NOT AN IDEA Investors hear ideas on a daily basis. While many sound great, they may not be viable. Even a business plan is not enough to attract an investor. You must be a business with a model that scales and a product or service that has “legs”. Even then, you still should prove you know what you are doing. MANAGEMENT TEAM Ensure you have a strong team in place that can help and support the growth of the organisation. The big question for nearly every financial backer is: Can you do this? They’ll want to know that...
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