11th November 2014 – Joins IAOP (international Association of Outsourcing Professionals) to complement existing best practices in strategy and value realization. Using tools and proprietary methodologies The Shoreditch Partnership creates a robust, responsive and Integrated Service Delivery framework around Service integration and management (SIAM)
Legal tips for new tech start ups seeking investment
- Ensure your intellectual property rights are registered where possible
- Have water tight contracts with suppliers and customers
- Tighten up all contracts with staff, agents and distributors, especially in relation to intellectual property rights
- Ensure that you do not have any issues or potential disputes with third parties as these will unsettle potential investors
- Resolve any outstanding claims from employees, directors or other parties in relation to claims over shares as investors will not invest if there are claims over the share capital of the company
Tips for investors considering the new tech space
- Invest in something you understand and believe in – this should be your passion, not your income, and your
- Investment should be taken under advice from qualified professionals.
- Take a 360 view on your due diligence- look at both “what” and “who” is involved
- Be prepared to get your hands dirty. Success is about collaboration and your network, without either you will affect the potential of the opportunity.
- Ask questions and lots of them. Remember, there is no such thing as a stupid question from an investor. Always ask WHY the company exists.
- Protect yourself with legal advice and get as much information as possible in writing before you invest.
Tips for new tech firms seeking external investment
- A one person company is seen as a higher risk for an investor. It’s a ‘single point of failure’ so look for the support of a management team early in your project.
- Take advice from everyone who offers it. You can always decide not to use it
- List what you have and what is needed.
- Always be realistic about what you actually have, and then look for help in documenting it in an attractive and comprehensible way.
- Do your homework! Investors are not philanthropists and expect a serious return on their investment.
- You need some capital behind you even to get started. Make sure you have enough cash to get started BEFORE you start. Everything costs money.
- Get your figures and legal status validated by a professional.
- Be prepared to commit to milestones and a fixed budget.
- The more external money you need, the less of the company you will ultimately own, so be lean in your dealings.
Finance tips for new techs
- Make sure you know your weaknesses and compensate by surrounding yourself with complimentary skill sets.
- If you’re offered more investment than you asked for, always take it.
- Do not over develop your product as the market will never reward you for doing so
- Do invest in market research before investing in your build.
- Manage the expectations of your investors by always over delivering
- Do not give up and do not take NO for an answer!
- Manage your cash (even in this new digital age, cash really still is king).
Partner, part time FD and Tech specialist at accounting firm, CBW