Is your small business ‘Investor-Ready’?

I am inspired by the energy, passion and commitment of business owners.

I meet many who are looking to take their business to the next level.

They want more, but they are not quite sure how to get there.

Many are seeking investors in the belief it will help them get there, or at least chart the course to make navigation easier.

Before you decide you need an investor, ask yourself the following questions:

- Is the business ‘investor-ready’?

- Does it have enough customers, revenue or forward sales orders to determine a fair value?

- Are there more things you can or should do before you approach an investor?

- Do you really want an investor in the business? If so, why and for what purpose?

- Are you flexible enough to adapt to a new ownership and reporting structure?

- Are you ready to ‘give up your baby’ in favour of growing it?

- Does the business actually require investment, or is there something else it needs more?

- What do your require from the investor? Cash? Networks? Expertise? All of the above?

- Do you have a clear plan as to how the investor’s money will be applied and what returns it is likely to produce?

- Have you optimised the business revenues, marketing, processes, etc. to maximise the sale price?

- Are you the right person to take the business to the next level, or would it need an experienced manager so you can focus on what you do best?

- Will securing investment deliver your expected outcome of lifestyle, money, time, etc.?

This list of questions is not comprehensive, but hopefully will assist you in deciding if now is the right time to think about investors.

Contributor:

Michael Field, Director at Michael Field Pty Ltd.

About michaelfieldcom

Michael Field is an independent strategy consultant with two decades of experience in strategy, marketing, strategic planning, market research, competitive analysis, needs based segmentation, e-commerce and innovation. His consultancy specialises in providing strategic advice to medium sized B2B and NF organisations. Michael has served as a Non Executive Director (NED) of Save the Children Victoria, is a former Save the Children New South Wales council member and former guest lecturer in marketing, small business promotional marketing and professional communication at ECU in Western Australia. He is the founder of the LinkedIn group Next Director for aspiring and emerging company directors serving more than 4,500 company directors globally. Specialties: - Strategy advice for medium-sized B2B, NFP and member services organisations - Strategic marketing - Market research and analysis - Competitive analysis - Market segmentation - Needs-based segmentation - Development of the value proposition - Marketing and business plans - e-commerce and online strategy development - Social Media - Keynote speaking - Technology and innovation - Ideas and inspiration

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