For investors, finding a business worth your time, attention and money is a lottery. Statistics show that more than half of angel investments return less than the initial capital.
After all, 20–30% of small businesses fail within the first twelve months, and 50–60% fail within the first five years. Businesses fail for a range of reasons but, ultimately, it usually boils down to the skills, experience and judgment of the business owner.
Finding a business owner who matches what you’re looking for, in an industry you think is worth the risk, is the challenge.
How does PrtnerUp help you?
PrtnerUp aims to take our core community of business owners seeking business partners and expand it to investors seeking opportunities. We help you connect with each other and build long-term relationships, so both can grow and achieve their goals. Think of it as internet dating, but for business.
There’s no rules about what the relationship can look like. Using PrtnerUp you could find a business owner who wants a silent investor, or someone seeking a co-founder, mentor, or consultant. The opportunities are limitless.
And with the right Prtner, your investment return might be too.
Top tips for finding a perfect match using PrtnerUp
Think outside your box. PrtnerUp offers a number of parameters for you to find a pool of potential business owner matches. These include industry, expertise needed, type of relationship desired, size of business and location.
The narrower the range of options you select in your profile and your search, the harder it will be to find a match.
For example, if you’re targeting a specific industry or type of business, are there any close substitutes that would match your needs?
It’s the same with location. Remote work is now a proven way of working, so it makes no difference if the business owner is on the other side of the country (or even the world!).
How to make contact
Create your profile and search for a match, or wait for someone to match with you based on your profile. Then connect. It’s as simple as that. Send a message to your potential Prtner expressing your interest and explain why they might be exactly what you’re looking for. Swap details and get in touch.
How to complete an agreement
Here’s where the process really is a little like dating: you need to think about how to build trust, both yours and theirs.
That could involve almost anything, it’s completely up to you. But there are a few steps to follow to help maximise the chances of success.
Really engage with your potential Prtner. Obviously, you’ll need to understand the business financials, strengths, weaknesses and growth plans. But it’s also important to understand the business owner’s qualifications and experience, to see how you can help the business. These discussions will also help you assess their personality and compatibility with you and your values.
Ask for references from previous clients or employers to get an idea of their track record.
You might want to try some more concrete steps to build trust. You could spend some time in their workplace shadowing their team, or arrange some strategy workshops. Whatever. This relationship needs to work for you as much as your Prtner. Take the time to make sure it’s going to work, or at least that you’ve made it as safe as possible.
Once you’re sure, clearly communicate the expectations and goals of the relationship (however it’s defined) and document your Prtner’s role and responsibilities. Qualified legal advice is a must-have.
Establish a regular communication schedule to ensure that your new Prtner keeps you informed of the business's progress and any issues that may arise.
Finally, regularly review the relationship and evaluate performance to ensure that your Prtner knows if they are meeting expectations and the business is heading in the direction you expect.
The PrtnerUp philosophy
We aim to help business owners, subject matter experts and investors build long-term relationships to succeed and grow. This is about you, not us. So, we try to keep our website and business model as simple as possible.
- Basic membership is free and full membership is available for one low upfront cost (less than a couple of coffees a month).
- There are no additional charges. Once you’re a full member you have access to all the site features.
- There’s no commission on payments for agreements made through our service, and no onerous paperwork.
- We don’t silently renew your membership on expiry and let you know afterwards.
We see ourselves as being here to work for you, not the other way around.
Go ahead, try it out. It could be the most life-changing dollar a week you’ve ever spent.
Check out our FAQs, including plans and pricing, if you still have questions.
Or if you’re ready to find a business now SIGN UP
