On this segment of Advice From the Pros, Ryan Wilson, Co-founder, and CEO of Atlanta’s popular private membership club, The Gathering Spot, discusses the importance of understanding the quantitative aspects of your business model in order to effectively pitch to investors.
I’m Ryan Wilson, CEO, and Co-Founder of The Gathering Spot. One thing that I think is important when you’re starting your business is to really understand your numbers. I was an entrepreneur that didn’t understand my business model, and so when I went to talk to potential investors about investing in the concept, I could really talk about the qualitative aspects of the business but didn’t have a firm understanding of the quantitative aspects of what I was doing.
At the end of the day, an investor is looking for a return on their capital. As much as we’re passionate about our businesses, unfortunately, investors aren’t. And so, when you’re going into a conversation, absolutely talk with passion about what you’re doing, but make sure that you have a firm and clear understanding of how the investor that you’re talking to is going to get their money back.
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This has been a JBF Business Media production.