But how ex­actly?

Cosmopolitan (UK) - - Earn -

Rule no.1: Treat them as you would any ex­ter­nal in­vestor – with a se­ri­ous pitch. “Give them an op­por­tu­nity to make an in­vest­ment de­ci­sion as op­posed to just do­ing you a favour,” says Perks. This means hir­ing a qual­i­fied lawyer (or­gan­i­sa­tions such as StartEd of­fer pro-bono help for start-ups), and get­ting a share­hold­ers’ agree­ment (pro­tect­ing each party’s rights). You should also present them with a well-thought-out busi­ness plan, which outlines when they can see a re­turn on their cash. It’s worth be­ing re­al­is­tic and not ask­ing for all the money you need up­front. Con­sider what you need to get to a cer­tain point – once you’ve shown you can re­pay that, you’ll be bet­ter placed to ask for more.

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