We are regularly contacted by budding entrepreneurs that are pretty “long” on ideas but a bit “short” on money. A number of them have shared their ideas with others and in turn, get leads for funding. In some cases, the opportunity for an investor arises. This is the golden ticket, right? Not so fast.
Outside investors have serious implications. First, any investor at minimum will want input and in a lot of cases, formal approval in every move you make. This can present hurdles with your daily operations as you grow. So, you’ll just shut them out, right? After all, this is YOUR brainchild- your business. WRONG AGAIN! If you try to go this route, you may find yourself in a legal battle with this investor- all in the name of protecting what was yours to begin with!
Before agreeing to ANY terms, you must be fully informed and make certain you have the appropriate protections in place. Take your time, do your research, fully vet your potential investors, seek professional advice and THEN make the decision that’s best for you and your business. Remember, all that glitters is not gold! Questions? Concerns? Contact us today!!
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