Finding Investors to Start Your Business

In this conversation, Danny Diaz Maher discusses the journey of starting a new business, Nevada Shooting Sports, focusing on the importance of building a strong foundation, understanding profitability, managing risks, and creating a memorable customer experience. Danny emphasizes the need for experienced partners, effective financial management, and the strategic formation of a board of advisors to enhance credibility and attract investors. The conversation provides valuable insights for aspiring entrepreneurs, particularly in the context of the shooting range industry.

Key Takeaways

👉 Building a strong board of advisors can enhance credibility.

👉 Understanding the local market is crucial for business success.

👉 Profitability models from similar businesses can guide planning.

👉 Risk management is essential in entrepreneurship.

👉 Creating a memorable customer experience is key to retention.

👉 Financial management and budgeting are critical for sustainability.

👉 Leveraging industry insights can provide a competitive edge.

👉 Experience in hospitality can improve customer service in any business.

👉 Phantom equity can be an attractive incentive for advisors.

👉 The quickest path to raising capital is through a solid business pitch.