Prominent Shark Tank investor and petcare empire Greencross founder Glen Richards knows a thing or two about investing, having put funds behind the likes of Get Kids Cooking, OneWorld, and pet sitting startup Pet Cloud.
PetCloud founder and chief executive Deb Morrison recently sat down with Richards and got his insights into what companies should be looking for in an investor, as well as his experience of being a mentor to a number of founders.
“There are people like me who have had the experience of business. I’ve done a lot of right things and a lot of wrong things as I’ve grown businesses and so I think I can add a lot of value to someone’s business. But on the flip side, the business owner has got to find a business investor that they think they can work with,” Richards said.
“It’s a two-way conversation and it’s a business relationship that may last five, ten, or twenty years. So there’s got to be strong compatibility around how the business owner and investor might work together and to ensure that that investor will add value to that business journey, that they’ve got a network as well as the money.”
Richards also touched on how his mentoring process involves trying to de-risk early-stage businesses and make the journey “not so tough”.
Check out Richards and Morrison’s interview below, with an additional furry friend.