Sharon McRill, President of the Betty Brigade, recounts how she discovered potential investors during a conversation with a new client. While she might have been hesitant to describe her business so vividly in its infancy, she now believes the risk of openness is more than repaid in refining her ideas and discovering opportunities.
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A number of the entrepreneurs interviewed for our series on financing innovation have mentioned the value of networking to find equity investors in early stage start-ups. In this segment, Sharon McRill, President of The Betty Brigade, recounts in detail how a simple conversation with a new client led to several potential investors. Here are some key elements of that conversation:
- Sharon described her business as a franchise opportunity with high potential for growth. She had come to this view after reading Michael Gerber's E-Myth series of books.
- Sharon is essentially looking for a hands-off investor who will allow her to take her business to the next level. As her customer mentioned to her, that kind of investor is rare in Michigan.
- When queried about why she would be so open about her business plans, Sharon noted that there were many ideas but only a few who could implement. The risk was well paid in refining the idea.
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