Event · 2018
Inspiring Entrepreneurs: Internet Icons
Insights from iconic entrepreneurs on building successful internet-based businesses.
- Date
- Venue
- British Library
What I took away
Key takeaways
Advice on securing funding through the Enterprise Investment Scheme (EIS).
Sara Murray emphasized cash flow management and strategic use of angel investors.
Karen Hanton discussed focusing on business growth rather than solely on exit strategies.
From my notebook
My notes
Speakers:
- Rikke Rosenlind - borrowmydoggy.com
- Karen Hanton MBE - Top Table
- Tom Adeyoola - Metail
- Sara Murray OBE - Boohoo.com
Notes:
How do I raise money for my company? Use the Enterprise Investment Scheme (EIS).
Sara Murray OBE:
- Cash is King. Don't run out of cash. Without cash all things fail. If you have an angel investor and you run out of cash, ask them for more. They don't want to lose their initial investment. And they have cash.
- Avoid a large number of shareholders at the start of your business.
- Build a generational business that you can take annual dividends from. If you sell, you may be troubled as to what to do with the money. Give to someone else to invest in businesses that you know nothing about (I think not).
Karen Hanton:
- Exit strategy: Have an eye on someone but don't focus on it - Can be detrimental to your business.