April 22, 2013
by Bob Coleman
Editor, Coleman Report
So says New York Times blogger Ami Kassar.
“The market for capital is inefficient, and in many cases results in gridlock for entrepreneurs, lenders, and investors.
“The best advice that I think I can give anyone in the hunt for money is to get organized early, do your research, identify your targets for financing, and pursue them in a focused and methodical way.”
Ami, a loan broker in real life, adds this tidbit to his client’s due diligence process.
“Remember that when you’re speaking to a potential investor or lender, you’re entering a two-way partnership. They are investing or lending in order to make money. Just as they are interviewing you, you should do the same. How many investments have they made in the last year? If it’s a loan officer you’re talking to, how many loans have they made? What is their personal approval rate in the organization? Who will be making the final decision, and how much influence will they have?”