Mr Black
Elder Lister
You need to get your house in order before anything else, delay the expansion plans until you have your financial statements, engage an accountant to do that for you
From your financial statements then have your accountant do an analysis of the costs involved, what it takes to deliver and what products or services deliver the best returns. Also what you can do to minimise costs or streamline processes.
With that info you will know what product or service or segment or even market offers the best returns, direct your capital injection to there, you want to hit the target which is to maximise returns not shooting indiscriminately.
Consider taking an asset financing facility rather than selling a piece of the business especially if the new investors offer nothing new except cash, prioritise patners who give your business a new edge or dimension,say someone with extensive retail experience or a marketing guru, basically a trade or craft that would cost you a fortune to procure, you want stellar company on your board.
Finally invest in your brand too, it gives you longetivity a 'la OMO, Blueband, Kiwi, you want to be in your customers mind for decades, the longer you are in the market the higher the returns.
From your financial statements then have your accountant do an analysis of the costs involved, what it takes to deliver and what products or services deliver the best returns. Also what you can do to minimise costs or streamline processes.
With that info you will know what product or service or segment or even market offers the best returns, direct your capital injection to there, you want to hit the target which is to maximise returns not shooting indiscriminately.
Consider taking an asset financing facility rather than selling a piece of the business especially if the new investors offer nothing new except cash, prioritise patners who give your business a new edge or dimension,say someone with extensive retail experience or a marketing guru, basically a trade or craft that would cost you a fortune to procure, you want stellar company on your board.
Finally invest in your brand too, it gives you longetivity a 'la OMO, Blueband, Kiwi, you want to be in your customers mind for decades, the longer you are in the market the higher the returns.