How do you supercharge your business growth? One of the most effective ways is to invest more money into your business. But not everyone can fork out funds from their own pocket to finance their business.
With capital investment, you can take your business to the next level by using those funds on improving your technology or your infrastructure. Whether you’re seeking capital for a start-up or want to grow an established accounting firm, here are 3 tips to consider implementing.
- Plan, plan, plan
Like all business-directed goals, the first step is to plan how you’re going to go about achieving it. Seeking capital investment requires strategic planning. This way you stand a higher chance of being successful at acquiring what you want. Your planning should include drawing up a sustainable business plan. You need to establish not only how you’re going to ask for money, but also what you intend on doing with it. Will you be buying the necessary equipment, business vehicles or hiring more staff?
- Present a viable business plan
Potential investors will be more impressed when approached with a sound business plan rather than being presented with just an idea. Can you show experience in operations and how you overcame challenges? Your investor will want to know exactly how you plan on generating them a return on their investment. Give your potential investors a unique insight into your growth strategy and vision for your accounting firm.
- Find an investor that aligns with your needs
Investors can offer more than just a source of capital. Some investors might be able to offer you mentorship or advice. Know what you need and want from an investor first before you go about finding and approaching them. Taking the time to study the investors you’re interested in will help you select the best partner for your business and give you a better chance of being successful at raising capital.
If you need help building your business’ case for capital investment, or want to get put in touch with prospective investors, you’ll need access to the right channels. DMY & Associates has the expertise to offer your business tailored advice on the best way to secure capital investments. Contact us today for more information on how we can help your accounting practice get to the next level.