Startup TipsSeven microFunding top tips
If you’re looking to impress angel investors and increase your chances of finding funding for your business, these tips will help set you off on the right foot.
- Seek advice early. A simple and cheap bit of advice now can save a lot of heartache later.
- You don’t have to be brilliant to be successful – you just have to be a bit better and work a bit harder than your competition.
- Investors do not back ideas. They back the people who turn ideas into money.
- Be courteous to all you meet – you never know when or how they might be able to help you.
- Recognise your limitations and involve others to cover those weaknesses.
- Do let others profit from your ideas – it’s much better to have a share of something making money rather than all of something that is not generating money.
- Manage expectations – under promise and over deliver if you possibly can. Over promising may look good in the short term but it can certainly bite you in the longer term.
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Chris Clegg is one of the founders of microFunding Ltd, a company set up solely to help create profitable businesses for inventors and managers, and help give investors better returns from early stage opportunities. The process of three-way funding introductions is called microFunding. http://www.microfunding.co.uk
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