As an entrepreneur, you’re constantly looking to earn the capital needed to pull in more customers to purchase your goods or services. For many business owners, getting that cash infusion means slicing off a piece of equity and feeding it to bloodthirsty investors, like in ABC’s ‘Shark Tank’.
Consider this a warning to tread water lightly! You may think you are Mark Cuban’s buddy, but you’re much “chummier” than you think.
If control of your business matters to you, check out this pitch that will help you consider whether or not to find investors. In less than 90 seconds, you’ll learn when to tell those sharks, “I’m out!”
One of my viewers asked the question about investors. Should I get investors? And if so, when is the right time?
Shows like Shark Tank have popularized the idea of going out and getting investors. It makes it look like a lot of fun. The reality is–you spend too much time with the sharks and you’ll likely to get eaten.
Now, in rare cases you want to get investors. But in most cases, it’s better off to do one of these two things:
First of all sell. Just sell your product or service. Not only will this give you more money, but it also gives you more basis for growth if you did decide to get investors in the future.
And second, use debt. Debt is far more powerful for your business because it doesn’t require you to give up equity.
I’d like you to share in the comments section below–do you feel you want investors? And if so, why do you want them?
Also, if you have a question you’d like me to answer in a future video, ask that below as well.
Thanks for watching. Now please, stay away from the sharks.
Join the conversation: Do you feel you want investors? And if so, why do you want them?
I respond to every question and comment. So, please, join the conversation!