DISQUS

MyOnlineToolbox · 1 year 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.

Carol Frederick · 1 year 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!

Arup · 1 year 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...

https://openid.org/steven · 11 months 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.

William J. Cleary · 10 months 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

Stef · 7 months ago

You mentioned that angel investors are only interested in "companies that can scale revenues quickly to at least $30M in revenues in five years or less."

What options (besides bank loans) would a company with sales projections of $5M in 5 years have? Are there angel investors willing to invest in a company that size?

John Hill · 7 months ago

So if teams are so important why not use "industrial strength" tools to assess how they fit together. After all if you enable just 5% more companies to succeed how much more profit would that produce ?

banks · 7 months ago

In times of recession, we are indulging in many debts/loans. And sometimes we turned to banks for support instead. We used to see Banks full of money and gold, but after billions in bailout money given to banks, I think these guys are up to something. The average amount of bank charges, for late fees, overdrafts, ATM fees, and the like, is going up. It is a bit abrupt that we, the customers as well as the taxpayers, just gave them more installments loans from our taxes. I don’t think they really helping us when in fact this is the time they must be are umbrella in “rainy days”. It seems like they had better put that bailout money to use so that those of us who paid the taxes to bail them out don't have to get installment loans for charges for using the services of these banks. Now tell me do banks really deserve our trust?

Adolph Manci · 3 months ago

I look in Twitter sometime. I did today and read a paragraph or so written by Mr.
David S. Rose who spoke about Bill Payne and his book and so when I visited the
site Angelsoft.Net I found this very informative column by Bill Payne, very informative.
I like new ideas. I feel we need them. For example, on how to cope with all those
forest fires in California.
And so I may have an idea or two myself on this topic but I would have to have perhaps a whole group of angels by my side. Costly. But, of course, costly are
all the million dollar homes being burned to the ground right now. And then, too,
the building of the new, innovative infrastructure which I would propose, should be a
prop to the present economy, especially in California, a land I like, and would like to
visit again. Adolph

George Susini · 2 weeks ago

I have recently started my business with a couple of my good friends. We have started what you calla internet cafe and doing really well. Everyone should take these steps in consideration they help a lot in the long run.

ivan · 1 week ago

i agree, thanx for the article Bill!