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Making sure your investor monies are being used legally
If you think that you are one of those businesses and need funding from non-traditional financial institutions such as close family members or financial investors, then just remember that these investors want something in return for their contributions. Those investors will have no problem investing in your idea if they have a good feeling about you. Of course you need to present your investors a plan showing them the potential profits from your business. But they also care whom they are doing business with. They want to invest in someone they with whom they feel comfortable, and more importantly, who is honest, trustworthy, ethical and competent. They want to be convinced that their hard earned money is being used honestly and legally.
Once trust is established, investors want reassurance that your business will continue to make profits and good returns, not only for the first few years, but also hopefully for a long time. They also want to make sure that everything you are doing is legal. Give the investors a vision of your business and present them with a very well prepared overview of who you are, what you sell, why you highly think that your product or service is valuable and what you need the funds for. Once they start to know and trust you, you can begin planting seeds of your passion and devotion for this business opportunity. Next, provide them with all detailed information about the people you are considering having on your board such as their education, qualifications, experiences, skills and expertise in that particular business. Of course, don't forget to involve some of your investor's people in all of this business planning. They certainly have lots of skilled people as well who can help you in lots of different ways. Prepare to give your investors a complete and comprehensive history and benefits of As a business owner, you want to be honest with all your dealings. It is important to know that you can be trusted with someone's money and that you are going to use every penny of it legally and solely for your business needs. Don't disappoint those who put their trust in you and in your ability to succeed in this competitive world of business. |
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