Cash is only easy to come by when you don't really need it.

When things are going well, banks are happy to finance loans and lines of credit, and investors are easy to find when you're profitable and growing quickly. But we all know things aren’t always going well.

For service-based businesses, where our products aren’t widgets but more often the intangible value of our brains and experiences, we tend to think that outside funding just doesn’t apply to us and our business model.

But the truth is that you have more options than you think. And that’s what we’ll geek out about over the next few episodes, empowering you with the knowledge and tools to explore these alternative funding avenues.

To start, I’m talking to Eda Henries, founder and managing principal of Henries & Co., a capital advisory firm. We’re digging into the ins and outs of bringing equity investment into your business, including a behind-the-scenes look at how that process unfolded for Eda in her own business.

Listen to the full episode to hear:

How your long-term goals for your business inform which funding options might be suitable for you
The different forms equity can take for a service-based business
Why Eda says the first step to going from employee to partner is to get clear on how your goals and values align
What projections and documents does your business need to have to seek investment
A relatively unknown resource for small business funding
Why you need to take the time to build relationships with the people or institutions investing in your business
Considering acquisitions as part of growth and scale

Learn more about Eda Henries:

Learn more about me, Susan Boles:

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