“If I had more time, I would have written a shorter letter” – Thomas Jefferson.
It takes a lot more time to condense complicated information into a clear and concise proposal instead of a long, waffly one. However, clear and concise is exactly what you need when seeking capital for business expansion. The question however, is do you have the time to make it happen?
Making businesses grow generally involves three key ingredients: vision, drive and money. If you have the first two, you’re richer than most. The third is almost prosaically common. However, accessing it is not. How you present your company to the powers that be is an essential and time consuming part of the process to achieving it.
Even in the most straightforward of circumstances, presenting information correctly takes time. On top of that, different countries have different regulations and approaches. That adds an extra layer of planning when it comes to expanding a business overseas.
This general understanding is no groundbreaking revelation. So what can a gig CMO provide to support the process in a positive way?
Why outside help is valuable when it comes to fundraising
Any CFO worth their pension plan will be familiar with international rules. Knowing of them and navigating them are different things though. Then there’s the time needed when you have plenty of other things to do within the parameters of your day job.
Raising money is a bit like online dating. It connects two people who are looking for something. You spend time together, romancing one other, and see if you/they want to invest. In that time you see all these wonderful things in them. How positive they are, how glamorous, how intelligent, how thoughtful. Then, when you decide to commit, you begin to take into account the flaws. They’re messy, they burn the toast in the morning, they have bad taste in music. You evaluate exactly what you’re getting into.
It’s a sort of dance, but one where every country has different steps. In the USA for example you need a Series 7 FINRA broker to raise money on your behalf. It’s not something that just anyone can do. Nonetheless, you still have to do the planning before you get to that particular start line. You need to gather the relevant information and present it clearly and in a manner that suits that country’s processes. We already know that takes time, and time usually means money as well.
So with all that energy invested, you want to know that when your proposal lands on that all-important broker’s desk, it’s a document that’s going to really showcase your company well and in a manner that fits the processes of the jurisdiction you’re approaching. That makes having someone who is familiar with those proverbial dance steps a reassuring asset.
Why go gig?
All of that is well and good you might say, but surely your in-house team is more than capable of achieving those objectives?
Indeed they might, but it is astonishing how often the proverbial battle is lost in the finer points of process. The chances are that you have a perfectly competent team and don’t need another one. However, their expertise is unlikely to be regionally specific. So a little strategic guidance in the right direction could make all the difference. Their time is also likely to be employed with other tasks in addition to this one. It is surprising how long it takes to turn a lengthy description of your company into a pithy one that cuts to the heart of the matter.
What you need is a helping hand and a trusted advisor who can help provide answers so your team can achieve the best possible outcome. Someone who can dedicate precision focused time into presenting your company in the right way. Removing the guess work to make sure the time and resources you spend are used to their best advantage.
That’s where the right interim or gig support comes in. In our team for example, CMOs have experience helping businesses to raise funds in countries all around the world. Familiarity working with real businesses. Engaging successfully in the exact process you are embarking on, in regions around the world.
That, coupled with our roundtable approach, means that when you engage with one member of our team, you know that their advice has been tested against the opinion of multiple experienced C-Suite executives. So your proposal has already been tried and tested against impartial opinion to give you greater confidence in positive outcomes.
Your time, and the time of your team, is valuable. Invest it wisely by engaging the right support.