Posted by Miguel Feliciano at 7:52 am
Over the past two months I have been working on Fuel My Ride full-time and am excited to have the beta released. I continue to work on adding new features as fast as I possibly can and at the same time attempt to perform other jobs that are, I believe, a huge requirement for me such as signing up new advertisers and getting funding.
Base on my last post Funding, Funding, Funding, I have since then signed up on the South East Investment Network and have received 6 investor interest. I have also been submitting my request to investors found on Go Big Network and have gotten a few of them asking for my business plan. I have received a few offers from investors, but some of them seemed or still seem to be to good to be true and this is why I’m posting about my experience.
Due diligence is something that every entrepreneur must do when doing business with someone else. You need to know who they are, where they are from, their history, the success rate, and hopefully some information from their clients and vendors, if any. Without checking out who you are getting into business with, you may be getting yourself and your business into trouble and it will cost you. You may be paying huge amounts of dollars or wasting a lot of your and your business’s time trying to strike a deal, make a sale, partner with someone, or even get funding for your business.
One of the best ways to protect yourself is to use a corporate attorney to look over the details, review the agreements, and even do some of the due diligence for you. Often times you can find such legal consult with a small retainer fee that can help you get that legal consultation you need right away. One of the resources I use in my businesses is Amerilawyer.com where I went to setup my first business and also retained their services for about $139 the first 13 months. They have offices all over the U.S. and even have an office in the U.K. They are worth the money and piece of mind.
