Look For Advice From Investors, Not Just Money

Meg Ragland, owner of Plum Print in Asheville, talks about the very positive experience her small business had with raising money. She says when it comes to raising money, look at the investor you're talking to and make sure you see them as someone who will contribute more than just money to your business.

So Plum Print had a
very positive experience
with raising money.
We raised a seed round of
just over a million dollars,
about five years ago.
And we were the first investment
of the Asheville Angels
here in Asheville.
And we were actually backed by a VC fund.
And I think that's one thing
that I definitely heard
in the beginning like
never take money from a VC.
And I think that's just
making this VC sound
like this monolithic ethical thing
that you don't have any connection to.
With us, with our investors,
we had a relationship
with the head of the VC
that invested in Plum Print
and we still do and he
was invested in Plum Print
and he saw our possibilities.
So I think when it comes to raising money,
just look at the people
that you're talking to,
obviously, no money is free,
make sure that you really
see that that person or that
VC or that angel network
is going to contribute
more than just money
to your business, but
you want their advice
and their counsel and the resources
that they can bring to
your company as well.

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