What is involved in raising funds for your business

Diary of a Sales Expert

In this episode, James shares valuable insights on the essential steps to raise funds for a business effectively. He emphasizes that raising investment is a process that requires time, preparation, and a well-thought-out strategy. Drawing on his personal experiences, including raising over £475,000, James outlines the importance of being EIS registered to attract angel investors and highlights the need to demonstrate personal financial commitment to potential backers. He advises entrepreneurs to seek funding when they are not in financial distress, as this positions them more favourably in negotiations. Throughout the discussion, James provides practical tips that can benefit anyone looking to secure investment for their business goals.

Takeaways:

• Raising funds for your business requires careful planning and preparation to avoid wasted energy.
• Investors prefer to see that you have some skin in the game yourself.
• Accept that raising investment takes time; expect the process to take six months or more.
• The best time to raise funds is when you don't actually need them urgently.
• Prepare a bold yet realistic business plan that investors can believe in.
• Be ready to discuss the potential downsides of your business when raising funds.

James finishes his podcast with another inspirational story. Be sure to subscribe on your podcast platform for more weekly sales-related episodes.

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