Who exactly should I be talking to about finding money for my business and where exactly do I find these people?
I can answer this question in 3 words “everyone and everywhere.” You should be talking to everyone about finding money and searching everywhere for it.
But, I'm sure it will be helpful for me to provide more insight into this. For members of Growthink University, definitely check out our series entitled “The 52 Week Investor Networking Solution” which walks you through a week-by-week networking plan for meeting investors.
For the rest of you, here are some tips:
- Go to trade shows within your industry. Here is where you can meet other key players. Seek out companies who provide complementary products and/or can benefit from your products. Contact the business owner or president and tell them about your business. Get them interested in investing personally or via their companies. If they're not interested, ask them for referrals to others.
- Do a Google search to find potential angel investors. I do this by searching for retired industry executives. For example if you were seeking angel investors for an aviation company, doing Google searches on "retired Boeing executive" and “former Boeing executive" will produce names of potential angels.
- Join a Web-Based Networking Group: you can meet potential investors on professional networking sites like LinkedIn, Spoke or Facebook.
- Join your local Chamber of Commerce to network with other business owners and use that to expand your networking circle.
- Speak to your landlord, suppliers and customers to see if they will finance your business and/or if they no anyone who might.
Investors often materialize from referrals. The more people you can meet and pitch your idea to, the better, as long as you present yourself well, follow-up and always ask for referrals.
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