Working with Investors

Working with Investors

B4Playing is my first venture for which I have raised funds from external investors. As an individual affiliate I could manage it with my own resources but the B4Playing goals and scale was such, from the very beginning, that it was obvious that external funds are needed.
I thought I would share with you some of my conclusions, 7 months after we have concluded the financing round and just before we go live with our casino and poker tool.
1. Team up with the best, most experienced partner you can. It is preferred to team up with somebody who compliments you and brings set of qualities and experience that you do not have. This was one of the best decisions I took since I came up with the B4Playing idea.
2. Select your investors- Well, I was lucky. Can't complain that we had a too hard process in raising funds. Took us 4 months (including negotiation and contracts) and I am told that this is relatively a short process. We could have raise more money and get additional investors but we took a decision to team up with investors that look like smart , self confident and friendly. We did very well at that respect.
3. Update your investors- We publish monthly report and we include all relevant data. Share the good news and the bad news too. The more you are open and sharing, the better support you get.
4. Meet with your investors periodically- Investors would like to know what the status of their investment is. They would like to look at your eyes, not just get written reports.
5. Consult with your investors- Each investor brings a unique view. You need to listen. You have the choice to agree or not.
Why am I sharing it with you today? We are 8 days before our beta lunch. We work days and nights and I am so supported (morally) by all the investors. I know it could have been different.

Itay