In episode 14 of Micro Entrepreneur: the magic of thinking small, I spoke with Paul Grant from The Funding Game. Paul is the go-to person for all things to do with financing your business for growth. We give you some great tips on crowdfunding, angel investing, business plans and time-saving tips for raising capital.
This week's guest
Paul Grant is an experienced entrepreneur who founded and ran a London-wide catering business for corporate and retail markets for seven years and now assists many companies at early and growth stages. A former director of Capital Partners, heading up the business angel division, and more recently an associate director of BA Capital Ltd. and Bergstrom Capital, Paul is also the founder of The Funding Game workshop initiative which aims to offer entrepreneurs a clear understanding of how to get their businesses funded.
Supporting entrepreneurs
Throughout his career Paul has been a passionate advocate for the small business owner. Supported by a small London-based team, he offers a range of services to new companies, including investment, strategy and marketing advice. Paul is a frequent speaker on the subject of business funding at many public professional development events. He is based in London, England.
What we covered in the show:
We started out by talking about some of the big challenges micro businesses might face when looking for funding, including:
Proof of concept
Reducing risk for investors by having a strong sales pipeline
Why building your own fan base is so important
Why investors are always on the look out for a great deal
We moved on to:
The 1st steps a micro entrepreneur should take
Creating a Business Proposal in 'investor language'
Your 1 page Business Plan as a compelling marketing tool designed to get you a meeting
Creating Pitch Decks
Knowing your financials (P&L) and your 5 year forecast
What return investors are looking for
How to value your business and why you shouldn't overvalue
And finally:
Tips on how to run a Crowdfunding campaign and the difference between shares and rewards sites
The pitfalls of having family and friends as investors
How to get credible feedback for your business idea
Lean Start-ups, bootstrapping and the minimum viable product philosophy
How to find your angel audience
Using LinkedIn to build a list of potential investors