Something to Consider If You're Looking For A Business Partner/Investor
that instantly gives your company the cash it needs for expansion
on a national or even global scale?
At one time or another, most all of us have.
Whether it's a company already in existence that you operate,
or your "dream job".
A word of caution here: Do NOT let the enticement of immediate
cash, or "promises" made, cloud your judgement.
Is this really what you want for your company?
How will the company look a year from now? 5-years from now? 10-years?
How much control does the other party want?
Is this going to change my own vision for the company?
You are the one who has put in all of the hard work, it's your baby.
Take care of it.
Two real life examples here:
1. Don King is famous for signing some of the biggest name fighters in boxing. Hasim Rahman, a heavyweight fighter and former Champion, signed with King after King displayed a duffle bag full of cash. Rahman saw the immediate cash, and couldn't resist. He basically signed his career away, he could have made much more by agreeing to a different deal from another promotor, but King had the bait, the instant gratification, and Rahman took it. Hook, line, sinker.
2. "Next Great Restaurant" was a US television show that aired a few months back. The idea was for the "investors" to look at restaurant concepts from owners across the country, and select the very best one. Then the investors would help open several locations, grow it into a national brand, etc...
The winner was a restaurant called "Soul Daddy". How have they done? After less than 2-months in business, all three locations have been closed. And the guy (Jamawn Woods) who came up with the entire concept, who no doubt sold his soul to the investors (Chipotle was the biggest), didn't even know about the closing until he was told by others!
I can only try to imagine how he must feel. Just a few months ago Jamawn's dream has come true (so he thought), he even moved his entire family to be closer to one of the restaurants. Then the investors make the decision to close up shop without even notifying him!
It's hindsight now, but imo Jamawn would have been much better off slowly building the business by himself. He wouldn't have given up control, he could have controlled the menu items and quality of ingredients (this was also an issue with the investors), and built HIS business.
Just something to keep in mind folks....
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