Tony O’Shaughnessy, founder of ABS, gave us some key points to consider when looking for investors for your company:
“I think the very first thing you need to understand is why you are looking for investment in the first place. It sounds really obvious but you would be amazed by the number of people who think ‘if only we had investment we could do x, y and z.’ Thinking about money problems alone is a very naïve viewpoint. You should really make sure you know exactly why you want the money, what you’re going to do with it, and that what you are going to do with it fits with your strategic direction. This is absolutely key.
You also have to think about what the role you want these investors to play:
- Do you want them to be equity holders?
- Do you want them to be proactive?
- Do you want them to have valuable employment in the business?
The minute that you have investors it will affect the culture of your business and your employees directly. You need to know that it is a great idea because it allows you to build a new product, etc., but also what it means in terms of the way you operate.”