Can you tell me EXACTLY the steps to getting an investor?

Question

I am desperately needing an investor to help me with my new business. It is a great idea (I am very highly skilled when it comes to making my own income...I only work out of my home), but I have no money.

My question is: how do I go about requesting an investor, where, how do i insure that my idea won't be take and ran off with, how long is the whole process? Also, are there any other option I have besides an investor? I have VERY bad credit and not cash on hand. Please help :) Thanks!

...and if ya get a chance, please check out my drawing site ("Thanks!" :)-

http://myspace.com/customdrawings

Answer 1

the best thing you can do (which it sounds like you can't afford) is to

1) get your financial statements audited.  this provides a poential investor comfort in your numbers

2) take steps to make your business run as efficiently as possible.  also, attractive to investors are things like long term contracts,e tc etc...something that shows recurring and growing revenues

3) draw up a business plan or some sort of prospectus for potential investors to read.  you might want to hire a consultant to do this.

4) larger companies might hire investor relations consultants which basically do PR for companies by taking them on road shows, etc..  

also, you can search for potential investrors by finding middle market or microcap venture capitalists and financing firms.  the Capital SourceBook is a good source but probably beyond what you need.   ask local bankers, and check with your local association of venture capitalists.  maybe your local chamber of commerce?

Answer 2

You don't seem a likely candidate for an investor.  To succeed in business you need capital (yours to start with) and sterling credit along with your good idea.

I know it's not nice to rain on your parade but you need to get your own ducks in a row before you ask someone else to line up theirs.