Your Business: Eight tips for raising investment in 2018

Your Business: Eight tips for raising investment in 2018
Pete Smyth, chief executive of Broadlake Pic: Maura Hickey

Raising capital and scaling a business is as much about trusting your gut and creating good partnerships as it is figures on a spreadsheet, writes Pete Smyth, founder of Broadlake

Start with your dream. From my kids at home to the entrepreneurs we work with, I encourage “dreaming”. As Walt Disney once said, “If you can dream it, you can do it” - and for entrepreneurs looking to raise capital, they need to dream of the potential of their companies first. Once the potential is identified, they can build a plan to get there. Great entrepreneurs start with identifying where they want to get to, and backsolve the problem of how they get there. There will be lots of barriers and roadblocks on the journey, but with a clear end goal in sight, they find ways to make it. Remember, dreams hold a higher purpose in life than plans, so start with dreams and dream big. Martin Luther King Jr didn’t say, “I have a plan” - he said, “I have a dream”. Dream first and then build your plan. Having clarity on both will help when raising capital.

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