What fees should I expect to pay to receive help finding financing or investors for my business plan?

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Entrepreneur, Business Planner and Angel Investor
min read
Opinions expressed by Entrepreneur contributors are their own.

There was a time when most people used the traditional Lehman formula, which was 5 percent for the first million, 4 percent for the second, 3 percent for the third, 2 percent for the fourth, and 1 percent for everything thereafter. You can google Lehman formula to get more on that.

Nowadays, these deals go all over the map. There is little or no regulation, and little or no standards.

And that was true even before the latest financial crisis. It's even more chaotic right now. Investment activity hasn't stopped, but it has slowed a great deal, so it's very much a buyer's market.

Make sure you have a good relationship with an attorney too. You're in shark-infested waters. And I'm not saying there's anything wrong with the specific deal you're looking at, I'm not an attorney and haven't even seen it, so how would I know. What I am saying, simply, is be very careful.

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur