6 Snippets of Advice to Help You Jump-Start Your June!

Why not win today! Here are 6 Snippets of Wisdom to help Jump-start June.

Every month Broadlake will post a series of quick winning tips to bring you closer to your goals, whatever they may be! We all need triggers to keep us focused and moving forward. Find words or phrases that work for you, stick them on a post-it on your computer and remind yourself each time you log-on to resume driving towards your goals. Here are 5 ways to win in May from the Broadlake team!

1, Write Down a plan

A productive day is not about getting a lot done; it is about the getting the important stuff done. Entrepreneurs, plot your goals for today and this week and find the most efficient way to achieve them.

2. Try, Fail, Learn, Repeat

The fear of failure is the greatest barrier for Entrepreneurial behaviour. The stigma of failure stops us from taking the plunge into uncertainty.

The truth is that anyone who has achieved anything great has at some point made a choice to embrace failure instead of allowing it to hold him or her back.

Failure paves our way to success and gives us permission to excel.  The key is how we respond and the only true failure is not trying at all.

3. Try taking the Road less Travelled

The Journey of an Entrepreneur is never easy, it’s full of challenges, obstacles, trials and tribulations. As an entrepreneur, you have chosen The Road Less Travelled.
It can be extremely challenging at times, business can be bruising and uncompromising, but the rewards in persevering, adapting and reaching the destination are unparalleled.

4. Act Now

What you do has far greater impact than what you say. The most effective way to do it is to simply do it. Done is better than perfect.

5. Take A Break

Entrepreneurs are often celebrated for wearing multiple hats and logging numerous hours. But working without letup is a bad habit that can jeopardise business, health and the life you’re supposedly working toward.

If you don’t give yourself the time to think and play, you’re not going to have the creativity you need to succeed.

6. Slow Down

The greatest weapon against stress is our ability to choose one thought over another. We live as though there aren’t enough hours in the day but if we do each thing calmly and carefully we will get it done quicker and with much less stress.

Check out our Winning tips for May here

The Perfect Partnership – 5 Crucial Components we look at when Evaluating a Company

With Every Investment or Partnership we enter, We’re looking for the same ingredients.

As investors we look beyond the business itself. We search for entrepreneurs we can work with. Success to many investors goes beyond a return on investment, and looks to the growth achieved by collaborating, creating, innovating and contributing as a result of the business partnership. A good partnership goes beyond reaching an end goal, it is encapsulated by the journey of getting there. That shared drive and collaboration that enabled the business to reach that point.. We look to 5 simple things when evaluating a company to invest in:

A Top-Tier Team

An entrepreneur needs an army. Our evaluation doesn’t begin and end with the entrepreneur, instead it looks at the team you have and how they’re positioned to make your business prosper and become a leading player on the market. We’re looking for a team that has the necessary domain expertise to guide you to the top. Does your team provide a knowledge base boasting skills in sales, marketing, product development and general operations? Is there a level of chemistry and trust established that empowers the team to move forward in sync? A strong team provides a strong platform to execute, if you nurture and empower yours investors will take notice.

Proof

Show you’re business has a proven business model. Investors are in a game of risk. You make an investors job far easier if you can de-risk the opportunity at hand and show that you’ve taken action and began building a business. Show data that supports your claims, show progress that backs up your ambitious pitch and provide an exhaustive amount of research and insights on the market that reflects your commitment and initiative to make this business succeed.

The Right Fit

Broadlake don’t just invest in any enticing business. Most investors have criteria established for the types of companies they look for. We look at the stage of your company, the industry and market attractiveness, the entrepreneur and the genetic makeup of the company. It has to be the right fit, for the entrepreneur, for the investor and for the company to succeed. At Broadlake we may look at 50 opportunities a year but we may only choose just one. If just one is right then one is the right number to do.

Trust

Trust is vital. It’s difficult to measure and harder to build but it remains the single most important thing in any investor relationship. Without trust, we spend the entire relationship looking over our shoulder, walking on eggshells and second-guessing everything. This relationship isn’t healthy, it corrodes morale and can destroy your business.

Trust is a two way street in any investment. The investor must trust the entrepreneur and the entrepreneur must trust the investor. The partnership must be built upon this. When entering a business partnership use your intuition, get a sense of whether you can walk together in the same direction to achieve your business potential.

Your Story

Your story sets you apart. It provokes connection and resonance with those you speak to. When faced with an investor, your story paves the way to their heart and mind. When telling your story be honest and candid.Stories inspire when they’re based in authenticity, don’t oversell and exaggerate, or be somebody you’re not.  We want an insight into who you are, and how far you’ve travelled on your journey, the challenges you’ve faced and how you’ve overcome them.

These 5 ingredients help instil trust and confidence in what you’re presenting to investors. Whilst different investors will likely place different weights on each component, their importance is universal. Before you meet with a potential investor be ready to discuss these aspects in detail, with confidence and honesty. Build a relationship that builds a business.

Check out what Pete has to say on what entrepreneurs need to consider before seeking investment on episode 1 of SketchLabs below!