We can easily overlook the level of demand pull when we are assessing strategic value. Just because a product has a patent, deep complexity and an obvious competitive advantage does not mean that it can fly by itself into the market. In fact, very few products have the ability to establish market leadership out of [...]
The last thing we want as Angel investors is reluctance on the part of the Founder and/or the management team to pursue an exit, and yet we seem to put little effort into ensuring we all want the same outcome. Too many Angels focus on the near term issues without appreciating that even these decisions [...]
Last Part of a Continuing Series on How to Select an Angel Group In my original Top 10 list of criteria for selecting an angel investor, there were two items that aren’t often discussed, but are worth scrutinizing during the fundraising process: – Honesty and integrity – Are they respectful of entrepreneurs If you talk [...]
Historically our angel investment criteria have always focused on the ability of a management team to prove they can deliver on a high growth business concept. Our return on investment has been tied to the entrepreneur’s ability to produce the revenue and profit growth needed to create enterprise value. Our exit has always been seen [...]
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How Big Does My Company Need to be?
Many founders and entrepreneurs confuse the valuation of an on-going startup with what the business might be sold for to a large corporation. We’re often told that our business is valued as a multiple of our net earnings. The earnings multiple is determined by the industry with some adjustments for the quality of the business, [...]