In business, it’s always important to be open to learning new things, and to adopt new skills and best practices. There’s no better people to learn from, than business leaders who have already enjoyed great success.
A report by the BBC allowed three influential investors to answer questions from UK business men and women. Here, AJG Direct review this report and look at how important it is to have a business mentor.
“Every fledgling business needs capital and investment to succeed”, said Paul Gillett, Managing Director of AJG Direct. “By understanding what investors are looking for, and how best to approach them, a business can greatly increase their prospects of securing the backing that they’re looking for. That’s why this report made such fascinating reading.”
The investors answering the questions were Bill Maris, of Google Ventures, Eric Hippeau, of Lerer Hippeau Ventures, and Mahesh Murthy, of Seedfund. The three men represent different kinds of investment opportunities, but all of them have a wealth of experience when it comes to funding new entrepreneurs. One of the questions they were asked concerned business plans, and how crucial it was for securing investment. Mahesh Murthy and Bill Maris said that they didn’t place the emphasis on business plans, but rather looked at the people behind it. Eric Hippeau, on the other hand, said that it was one of the main things he looked at before making an investment.
Another question concerned young entrepreneurs. Alistair Brown asked the three investors what efforts were being made to reach out to young entrepreneurs who hadn’t gone to top universities. On this point, the investors were united. They were open to entrepreneurs from all backgrounds, but it wasn’t their duty to trawl their net wider, the entrepreneurs had to come to them. Entrepreneurs have to be proactive, those who wait for investors to find them have no chance of succeeding.
“It was good to hear these important and successful investors speaking so candidly”, said Paul Gillett. “Every new entrepreneur has a wealth of questions, and unless they’ve been there and done it themselves, how can they find the answer? That’s why it’s important to have a mentor in business, someone with experience and someone you can trust.”
AJG Direct form close ties with their clients, and are always happy to give help and advice, especially to new entrepreneurs. Their bespoke sales and marketing campaigns can help businesses grow and achieve their full potential.