You may have the drive and determination to fulfill several companies. However, the reality is that you also need capital to bring your ideas to fruition.
Bringing in outside sources of help can be a daunting prospect, especially when you have invested so much of your own time and money into growing your company. Fortunately, there are several ways to tell whether or not a potential investment partner is for you.
What role do they intend to play?
Do you need a silent partner or someone who can take on a more hands-on approach? This is an important question to ask yourself when seeking investment partners.
A bold and intrusive personality could disrupt the whole flow of your company, as well as upset key staff. It is vital that any investment partners fit in with the successful culture of your organization, rather than opting to dismantle it.
Are your values compatible?
Your company may pride itself on being open and honest with customers as well as treating staff with the dignity they deserve. Does your potential investment partner feel the same way?
The corporate world can be a ruthless place at times, and your core values might not be shared by everyone. Although small compromises are always necessary for the business, you may regret sacrificing the key principles that your business is founded upon.
Growing your company can be a significant challenge, but with appropriate investment, you can get there. Choosing the right partners and colleagues will be crucial to your success. You should also keep in mind your legal rights as an entrepreneur in California.