Ohio SBDC - Free Expert Business Advice

Will You Just Take The Money (most of the time)

An Angel investor friend of mine is currently leading a crusade around the concept that entrepreneurs should stop focusing on all the little details involved in funding and should take the money when offered and get it working in their business. He has a good point. When you are out pitching your business opportunity Venture_capitalistyou are trying to generate interest and get funding. You should have a plan of action developed that once you get the money you should be ready to start executing and creating the next big thing. If you have investors that have offered you a term sheet you should move quickly toget the money. Many entrepreneurs, however, will go into negotiation mode to try to get the deal a "little" sweeter from their perspective thus delaying or, in the worst case, stopping the investment. Both situations are bad for the entrepreneur. Cash is the fuel that will allow your company to take off. The longer you delay the investment the closer you are to possibly missing your market window or at minimum you are delaying your launch/growth. So after all the pitches and all of the negotiation you should just take the money and get moving...right?

Not so fast ~ you do need to protect yourself and your business. Before you take the money click here are a few things are are important for you to focus on.

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