5 comments

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  MyOnlineToolbox

  4 months ago

  I agree with everything EXCEPT the location comment. I am based in Florida and have "angel" investors from California, Minnesota, New Jersey, Toronto and Britain. I believe most of the "location" stereotype has to do with the fact that that most entreprenuers are not equipped to properly treat investors like partners, so the investor then needs to feel like he can simply drive to the business to get a pulse on his investment. I embrace all investors as if they are sitting right next to us regardless of location. We have weekly updates and quarterly meetings timed perfectedly to include Britain to California. I feel the angel's investment should include good management skills, including ensuring that the angel does not need to come to the office to find out what is going on. And if so, then the entreprenuer is doing himself a dis-service since opinions, suggestions, quidance is what we want in addition to money.
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  Carol Frederick

  3 months ago

  Bill, that was really helpful. I've been wondering about many of the topics you have covered. Thank you for taking your time to explain everything!
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  Arup

  2 months ago

  This is 100% helpful. What if you are a start-up with no financials though? Its an idea, you have created the product but there is little that you can justify on financials. I feel like that is better than creating a lot of fluff...
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  weblivz

  1 month ago

  Per the "Business plan/Strategy" paragraph - i've heard so many variations on this now from, one page is enough to the 3/5 years thing (at least at angel investment stage) - both have worked and not worked for a number of successful entrepreneurs i have met. Be interested in what other say on this point.
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  William J. Cleary

  3 days ago

  I am totally new to this site and was pleased to see the comments of Mr. Payne. There is no question that a full and complete memorandum with 5 year projections are absolutely required and necessary. I would like to add another element to this. Prior to submitting the memorandum It may be best to create a one page summary sometimes called a Preci's. that includes a condensed version of the memorandum. You will be very surprised as to the amount of info you can fit on one page.
  Thanks Bill Cleary
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