How Do I Find Partners or Investors for My Business?
I've invested my retirement money in a warehouse and need someone to partner with me financially to get things up and going. While I owe no money on the warehouse, I have exhausted my credit.
Join us at Entrepreneur magazine's Growth Conference, Dec. 15 in Long Beach, Calif. for a day of fresh ideas, business mentoring and networking. Seats are limited--Register now to secure your spot and receive exclusive reader rate (expires 12/8).You may want to explore the viability of partnering with an angel investor or an investment group such as a venture-capital firm. These types of investors can offer industry expertise and a strong network of contacts which could help your business grow and provide the opportunity to form strategic partnerships with larger companies.
Keep in mind that it can be very difficult to obtain financing from these investors. But if you succeed, these relationships can be very helpful.
To find angel investors, consult with national and local directories. The Angel Capital Association offers a directory of its member groups that you can search by state. The Angel Capital Education Foundation has a listing of groups. They both provide direct links to angel investors' websites. Contact only those angel investors that have an investment strategy that supports your business model. Also note that angel investors usually do not invest more than $250,000 to $750,000. If you need additional capital to get started, venture-capital investors may be a better option. To find a detailed listing of those firms, visit the National Venture Capital Association's website.
If neither of these options are suitable for your situation, start exploring your own professional network, including any former business partners who may be interested in participating in the funding. The professional networking site LinkedIn can be a good resource for connecting with current and former business contacts.
Good luck with the venture, and let us know how it progresses.
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