How to attract new partners/boardmembers/shareholders to startup?

I

ivorystraws

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Hi,

What's the best approach to take to attract new influential partners/boardmembers/shareholders to a small company so that they can provide investment, guidance, contacts etc which would benefit the company and how should their remuneration package reflect this?

All opinions are much appreciated.

Thanks.
 
What kind of company is it?

See https://www.businessangels.ie/ and for some ideas.

Talk to Enterprise Ireland too, if it's something they'd support (i.e. manufacturing, internationally traded services).

County Enterprise Boards are another good starting point.

By the way, you'll find it tough to get somone to sit on a board, as the responsibilities are so high these days.

If anyone's looking for a large renumeration package (as in cash), I'd stay clear: most would understand that cash is tight and a (smallish) equity stake is more appropriate.
 
Sounds like you're looking for venture capital & non exec directors. The first thing you should do is to produce a high quality business plan. Shoddy business plans with bad printing, typesetting etc are an instant turn off and usually end up in the bin. Your financials must cover 3-5 years and be robust with all underlying assumptions clearly layed out.
Don't skimp on this area, trust me it's the best money you will spend at the start up phase.

Non Exec remuneration is cash (if you have it) or equity if you don't! I suggest a search on Vision Net by director name, that way you can check the accounts/B1 etc for remuneration/equity.

What is the new venture?, you never know I might be interested myself!!!
 
millertime said:
Sounds like you're looking for venture capital & non exec directors. The first thing you should do is to produce a high quality business plan. Shoddy business plans with bad printing, typesetting etc are an instant turn off and usually end up in the bin. Your financials must cover 3-5 years and be robust with all underlying assumptions clearly layed out.
Don't skimp on this area, trust me it's the best money you will spend at the start up phase.

Non Exec remuneration is cash (if you have it) or equity if you don't! I suggest a search on Vision Net by director name, that way you can check the accounts/B1 etc for remuneration/equity.

What is the new venture?, you never know I might be interested myself!!!
Click to expand...

Thanks, that's exactly it Millertime and you're right, I am looking for venture capital and non-executive directors. I don't need them just yet as I have invested my own capital which *should* last me for approximately 9 - 12 months so after that, I'd be looking addittional investment for further expansion. I have a business plan but it's not that detailed so I'll work on that. The company won't have much cash to spare so I would be offerring equity but only if and when I need to. Thanks for the tip for searching Vision Net, much appreciated.

Thanks for all comments, very helpful as always!
 
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