However, try not to stress out too much as people will understand that you are entrepreneurs, not mathematicians. Just make sure you do your homework.
By examining your business thoroughly, you’ll appreciate your worth and the assets you need to bring in for this next step.
Equity is your future treasure and giving up a piece of your company too early can be the wrong business move and the wrong thing personally.
You have a great business. Don’t put it or yourselves at risk by rushing things, and remember investors don’t come with just a chequebook.
...and Jo asks
Gordon Merrylees, head of entrepreneurship at RBS and NatWest, says: “Sustainable businesses that grow are built on strong, dependable and lasting relationships. Good relationships are built on trust and value. It is essential that early-stage businesses instil the right principles and always act with integrity, building the foundations for growth.
“Cutting corners and trying to hide areas of development or embellish early successes will only be highlighted later and diminish any trust you may have built with the most crucial of audiences in customers and those that backed you without perhaps knowing the whole truth. Investors have so much experience, connectivity and know-how. very often, they can sniff out the untruths.
“Whether your ‘fudge’ is found out early on or at a later stage, your reputation with what is a close-knit investor community will be at risk and that’s not good business if you need regular rounds of funding from it. Be honest and you’ll build lasting partnerships and a network of supporters.”
