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James Millar
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Calcul8or, post: 267807, member: 29970 wrote:
Hi Everyone,

I’d appreciate some advice from anyone who’s been down this path before. I know there are various websites out there that I can post pitches etc on, to try and attract the attention of angel investors, but I’m wondering if there are any “conventional” means out there that don’t require me to put on a clown suit and do a song and dance act. I’m not very hip, so I wouldn’t be doing anyone any favours by pretending I am. All I’d really like to do is explain the reason I need funding, let them do their due diligence and then get an answer.

Also, back in the days of my corporate life, I worked for a company that got a couple of investors on board, and that was before investor websites or the term “startup” even existed. It was all a pretty black and white process as far as I could tell, and that’s what I’d like if at all possible.

As this is the first time I’m doing anything like this, I seriously do not have any idea where to start or who to approach. I think I remember hearing somewhere once that speaking to my Accountant might be a good starting point, as they supposedly are linked to investor networks. I’ve never discussed it with mine, and I’d really like to avoid making a fool of myself with them if I’m wrong.

So, any tips?

Cheers,
Shail

Hi Shail

My first comment is that I think that your business skill set is very well positioned to take advantage of the impending paradigm change in small to medium business in Australia. We are seeing many small businesses trading sideways / standing still and I think a large part of that is because they are persisting doing things the way they have always done them. “If it ain’t broke don’t fix it” mentality.

I think the reality of the small business world that we now ALL operate has fundamentally changed. Markets are more competitive than they have ever been. Global competition for small business is a relatively new thing. The new generation of tech savvy operators disrupting industries left, right and centre. All of this has had a massive impact on typical small business and I don’t see it reverting back to the relative easy days that once existed. So for anyone in small business or entering small business – if you don’t have something special you are probably wasting your time. I really believe that.

This is where skill sets and mind sets like your come into play. A conventional business can survive and possibly still thrive IF they improve their operations and analyse things in a better way (or at all). With labour costs as they are then things need to be done differently. I maintain that as soon as the Accountant robot /AI exists we will be investing in a big way.

I don’t know your business model and I have no idea what your plan is for the money but I think you are in a good space. I would be very interested to find some time to chat about where it’s going – potentially for business opportunities first and foremost. As accountants we need “partners” that can deliver the tech and processes. We know they are very important but we are not experts in the detail – you seem to be.

Anyway very interesting looking operation you have. Hopefully we can chat sometime.

Best
James

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900