Imperfect Process of Picking Partners
By: Paul Mann
You’ve put in sweat and tears to grow and expand your business. It started as a small idea and now it has turned into a profit-generating operation that has withstood the test of time. Should you let investors become involved with something you’ve built from the ground up? When is the right time to take investment funds? How do you find the “perfect” partner? I’ve sought investors for two of my companies—one with reluctance and the other with ambition.
In my first company, an internet software business I founded during the dot-com boom, I took on investors too late. I had taken on investors who were active in both investing money and providing insights into my business. But I soon found that they lacked domain expertise in my industry, as well as physical availability to meet and discuss the growing daily needs of my business.
In my first company, an internet software business I founded during the dot-com boom, I took on investors too late. I had taken on investors who were active in both investing money and providing insights into my business. But I soon found that they lacked domain expertise in my industry, as well as physical availability to meet and discuss the growing daily needs of my business.
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