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Business Hands

Think twice before you invest in crowdfunding

22 September 2015 15:30

FOR IMMEDIATE RELEASE

There was a time, when if you needed cash for your business - you wrote a business plan and went to see your bank manager. If that failed, your only other option was to visit a velour curtained civic centre or town hall on “meet the investor” night, chomp on a few vol-au-vents and hope that someone somewhere would listen to your 30 second pitch. Whichever route you took, you had to know your stuff. You needed a decent business model, you needed to know exactly how you were going to go about building your business and above all you needed to have gone through your figures with a fine tooth-comb to show it would be profitable.

Thankfully nowadays, the financial and investor landscape has completely changed and you’re no longer at the mercy of a stuffy, clueless bank manager or some sweaty, cigar smoking “Boycie” who still doesn’t believe the internet will catch on. The advent of crowd and alternative funding platforms has made us all capable of becoming investors. All we need to do is not have those extra 2 pints or large kebab on a Friday night and we’ve saved the minimum amount needed to become the next Wolf of Wall Street. The chances are, we’ll probably invest the £10 we saved on the kebab or the extra pints the very same night, whilst we’re still drunk.

And if you’re not the investing type, possibly because you don’t like the risk of investing your own money – you’ll try your hand at being an entrepreneur. Here in the UK there are literally thousands of us making that choice every month. Unlike back in the 90’s, where to become an entrepreneur you either had to be (i) insane (ii) ludicrously wealthy or (iii) completely irresponsible - nowadays every man and his dog can come up with an idea in their sleep and set-up a fundraiser the next day. And whilst you might think this is great for Britain and encourages everyone to follow their dreams, the reality is that dreams are just that. They’re dreams - not full-proof business plans and the majority of them are simply not meant to come true. If they were I’d be getting paid to eat giant meat pies whilst sitting on a pink cloud watching TV with my dog Lofty… but I’m not.

So we’ve entered an age where rather than producing a business plan, getting funding is now considered by many as the official stamp of a solid business idea. After all, investors are intelligent people and wouldn’t dream of putting their money into something unless it was guaranteed to work… would they? This is leading to many so called entrepreneurs simply piecing together 5 minutes worth of Google research with a few edgy catchphrases and some honky-tonk piano music to make a 2 minute video pitch. They’ll then go on the hunt for tens of thousands of pounds to fund their fresh and completely un-thought through idea. Where’s the harm in that you might be thinking… a seasoned investor is not going to touch it with a barge pole. But herein lies the problem. Judging whether an idea is fund worthy or not is an army of people who have just had a skinful on a Friday night and missed out on their kebab because “they’re on a diet”.

On that basis, 5 years from now we’ll probably all be wearing banana skin clothing and travelling to work on stylish business pogo sticks. So if you want my advice, when you go out this Friday, have those extra pints and treat yourself to a large Kebab. You can start your diet in the morning.


Ends

For further information or to talk about this article in greater detail, please contact Chris Mayfield, CEO and Founder of Business Hands on 0207 4584788 or email chris@businesshands.co.uk

About Business Hands

Business Hands specialises in providing top quality marketing services to small and mid-sized businesses in and around London. Our belief, that quality marketing services should not be the preserve of big companies with big budgets is at the core of everything we do.

www.businesshands.co.uk

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Press Contacts

Chris Mayfield

CEO / Founder

Tel: 02074584788

Email: chris@businesshands.co.uk


About Business Hands

Business Hands specialises in providing top quality marketing services to small and mid-sized businesses in and around London. Our belief, that quality marketing services should not be the preserve of big companies with big budgets is at the core of everything we do.

We’re a great choice for ambitious yet cost conscious organisations. By utilising our services, you’re able to significantly increase your marketing power without the downside of employing extra team members. We don’t take holidays or sick days, you can upscale and downscale as and when you like, you won’t need to pay us a pension, we don’t need office space and you’ll get access to a greater level of skills than you would otherwise have for your budget.

As a small business ourselves, we understand that every hour worked and every penny spent must be accounted for and our range of quality marketing services is designed to deliver great value for money whilst also relieving you of the burden of these time consuming activities.

We’re experts at what we do, but what makes us really stand apart is our ability to combine our marketing services with our strategic insight to help your organisation achieve its long term goals.

We don’t like to think of ourselves as a marketing agency. We like to think we're your marketing department, your strategic adviser, your secret ingredient and your biggest fan.

www.businesshands.co.uk

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