Downside of Venture Capital
One of the tremendous downsides
of working with a venture capital firm, is that they are ultimately, again,
going to take a 60% to 80% equity interest in your business as they continue to
make investments in your company. This, ultimately, means that you're going to
have to cede control to the investment firm that you're working with as it
pertains to meet venture capital that you need in order to develop your business
operations. Time and time again, we have found among a number of entrepreneurs
that they enter into venture capital agreements without fully understanding that
there is going to be a substantial amount of control ceded to these firms as
they continue to provide you with the capital you need now on initial basis but
also on an ongoing basis as your business expands. Again, we strongly recommend
that you work with a number of different business advisors say that you can
clearly understand the nature of working with a venture capital firm if they're
willing to entertain a potential investment for your firm. .
This, it is one of the toughest
part of obtaining venture capital for your business in that the entrepreneur had
it has worked so hard to develop a new business venture is going to have to give
up a significant amount of control over your business with the intent of
ultimately generating a substantial return on their investment by sourcing
third-party capital. Much of the venture capital firms that source investment
from third parties with the intent to generate 20% of the profits are generated
through their investments, you can anticipate that you, as the entrepreneur,
will also receive approximately 20% of the profits that are produced not only
for the ongoing cash flow business but also through the ongoing increased
valuation that will occur as your business expands. While this may seem as a
plus for working with venture capital firms can quickly turn into a nightmare if
the venture capital company that you're working with find that you are not a
suitable manager for their investment. It is extremely important to note that in
many venture capital deals, the firm is involved with providing you with the
financing that you need to ultimately view as the Chief Executive Officer very
quickly due to the fact that, again, that they owned a majority interest in your
business. This is one of the things you need to heavily consider before working
with any type of venture capital firm that is looking to make a significant
investment into your business either initially or foreign ongoing. On a quick
side note, we recommend that you continue to review the number of different
articles that TheFinanceResource.com has produced as it relates to working with
venture capitalists both in a positive capacity as well as a negative capacity.
Again, there are a number of
things that you will need to consider as a venture capital firm determines
whether or not to work with you. For most, most venture capital firms do not
want to work with startup companies that are seeking to develop a standard
business that is all you can developed by a number of other different market
agents out there. Typically, most venture capital firms are seeking to work with
companies that own proprietary technology, or have a highly unique concept that
is extremely economically viable as it pertains to developing a new business
with the intent to sell this company for a significant price to earnings
multiple to a third-party directly form or through an initial public offering.
In regards to initial public offerings, this will be discussed this in further
detail as many entrepreneurs often feel at this is the pinnacle of success as a
relates their business. However, nothing could be further from the truth as it
relates to divesting your business for a significant price earnings multiple as
it pertains to working with a venture capital firm. Due to the fact that he
large amount of the capital that has been available for initial public offerings
had dried up, a number of different venture capital firms have become more
focused on selling businesses to third-party private equity firms, your
competitors, and other entities that are looking to enter the specific industry
that you are currently operating within. Again, this is one of the primary
downsides to working with a venture capital firm is that if they receive an
appropriate offer for your business quickly turned to sell the company to this
entity with your consent. In having received an investment from a venture
capital firm, the control as it pertains to how they intend to divest the
business for a significant premium is up to the VC. If, the venture capital
firm, receives an appropriate offer, they may sell business to a third party
without question. Again, this is one of the primary downsides of working with a
venture capital firm in that you have very little discretion over how your
business is managed as it relates to the ongoing operations of business.
Secondly, when you work with venture capital firms, and they decide to sell your
business to a third party you may end up in the position that where you are
unemployed. Although, you may have received a substantial amount of money for
the business you have developed, you may not have developed a firm has to have
you felt it should have been properly built. This, again, will be one of the
themes through our discussions as it relates to the downsides of working with
venture capital firms.
As we discussed in our article
pertaining to the benefits of the venture capital, the things that you will have
access to is a tremendous as it pertains to developing and expanding your
business over a significant period of time. However, this comes with a
substantial downside in the fact that again, you're going to sell a significant
portion of your business while giving the venture capital firm a substantial
amount of control over how your business operates. As we discussed earlier, one
of the most common issues that comes with obtaining capital from a venture
capital firm is that in the event that you are under performing as per their
standards then the venture capital firm can quickly replace you with a different
manager that is able to more effectively and more aggressively expand the
business the time frame that the venture capital firm is looking to expand and
divest their investment. As such, you should be fully prepared, as at the
entrepreneur that you will need to aggressively expand your business when you
receive capital from a venture funding. It goes without saying that after a 1 to
2 year time frame if you are not conforming to the standards set forth by the
venture capital firm then you will be quickly replaced by a third party that is
able to expand the business as seen fit by the venture capital investment
company. As such, if you were not able to obtain the 25% to 35% the current on
investment that is required on a year on year basis by a venture capital firm
they may be in your best interest to seek other forms investment including
traditional business loans, SBA loans, or investor financing that is more
appropriate for your business. A qualified certified public accountant is able
to make a determination as to what type of investment is best for you depending
on your business his current circumstances. Prior to engaging any type of
capital raising activity we strongly recommend that you seek out the advice of a
trusted business consultant or CPA that an appropriately guide you as to what is
the best method of obtaining capital you need in order to expand work well your
business venture.
As we have not discussed
earlier, there is a significant difference within private investment as it
relates venture capital and private equity capital. Historically, venture
capital has been reserved for businesses that specifically bar start of
companies that have very promising pieces of the technology, unique business
concept, with unique business models that will generate a substantial amount of
income over 3 to 7 year timeframe. However, if you're already a business that is
an operation that in your best interest to work with a private equity firm for
merchant banking firm that can provide you with a financing that unique or to
aggressively expanded business the while maintaining a significant amount of
control over how your business operates. Working with private equity firms and
merchant banking firms that provide you with a much better benefit as it relates
to maintaining a significant amount of control over your business will
concurrently developing an extensive amount of love yourself for the ongoing
operations of your company. If these concept relating to venture capital,
private equity, merchant bank and private investment is foreign to you then we
strongly recommend that you continue to review articles as it pertains to these
different types of capital and how they can be used to finance your ongoing
business operations. In some of our other articles are also going to focus on
how you can effectively use hybrid forms of investment so that you do not to
deal with as many of the downside issues as it pertains to obtaining financing
through a venture capital firm.
In one of the more recent
articles have we have published as it pertains to the upside of obtaining
venture capital, we've discussed a new type of financing that is being used by
the new businesses on an ongoing basis that has allowed the venture capital
firms, private equity firms, and other financial institutions to obtain a very
strong occur on their investment in all seating is very limited amount of
control for your business. This type of financing is known as royalty-based
financing and it operates in a similar capacity to both that of a business loan
as well as a equity investment into your business. Primarily, if you decide to
focus on using royalty-based financing then you should beware that you are going
to need to plan to operate a very high margin business as a certain percentage
of your monthly revenues are going to need to be disbursed to beat capital firm
that is providing you with the financing that unique. In exchange for providing
a venture capital firm with a smaller equity percentage, again, you will be
required to provide them with an ongoing stream of income based on the revenues
of your business on a month-to-month or quarter to quarter basis. One of
articles that pertains to general business planning, you can find it in-depth
analysis of royalty-based financing and how it relates to acting as an
alternative to seeking venture capital.
In our next discussion here to
focus on the issues as it relates to private placement investors, the nature of
private placements, and how you can raise capital on your own in order to obtain
in order to effectively explain your business to work develop your new
entrepreneurial venture. Again, outside of using a venture capital firm, there
are a number of different alternatives out there that you can use in order to
obtain the financing that you need without having to give up a substantial
amount of equity within your business with a substantial amount of control as it
pertains to the day-to-day operations of your company.
Thanks again for tuning in as
it relates to articles pertaining to venture capital, and we look forward to
continuing to provide you with new and insightful information as it relates to
the benefits of using venture capital, the downsides of using venture capital,
and the alternatives that you can use as it pertains to finance in your ongoing
business operations.