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looking for funding? question about its value

Antony Penn
Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

Michael-33
I'm just wondering if you could have a lower fee and a small % of the final value... might be hard to implement (legally) but a lower upfront fee for an unkown service would potentially be more agreeable to start ups, the cost would move relative to the size of investment (fairer) and there is probably larger upside for you as a service provider (assuming a few big deals get done).
... lots of brackets in there (sorry) :p

Michael Slane
+44 (0) 755 451 8650
www.napa-technology.co.uk


On 18 June 2010 10:11, Antony Penn <[hidden email]> wrote:
Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

Omkar Joshi
In reply to this post by Antony Penn
Anthony,
 
My view is that this information is worth absolutely nothing to me as an entrepreneur! Most of it is probably available in the public domain (rich lists or linkedin etc) or is out of date because the real angel investors or people with money rarely allow for details to be shared.
 
The business model that probably works is where such companies take a % of the money raised, however, that too is not favoured by seasoned investors who never like their money going out the door.
 
A better target market for your friend would be to look at Wealth Managers and PE/VC houses who may be looking for wealthy individuals for investment opportunities or to close a fund. In that case, the price point could be much higher - potentially in thousands.. 
 
Good luck!
Omkar

On Fri, Jun 18, 2010 at 10:11 AM, Antony Penn <[hidden email]> wrote:
Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

FTired
Administrator
In reply to this post by Antony Penn
Hi Anthony

Effectively what you are selling here is a excel sheet of contacts for £279, to me that has zero value, the value with an investor is to help you get to that first meeting and beyond. Now this can be in the form of

a) Business plan help - again limited value
b) Your personal relationship/contact with that investor - far more valuable (but value decreases if the investor knows that you are earning money from the intro's, i.e filtering is not done)
c) Getting you funding, but then instead of a upfront fee, you need to take equity it shows confidence in
    i) The business you are helping
    ii) Your ability to raise

Iqbal



From: Antony Penn <[hidden email]>
To: [hidden email]
Sent: Fri, 18 June, 2010 10:12:01
Subject: [entrepreneur-1056] looking for funding? question about its value

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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RE: looking for funding? question about its value

Brian Milnes
In reply to this post by Antony Penn

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12
To: [hidden email]
Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

Antony Penn
In reply to this post by Antony Penn
My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.


On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

FTired
Administrator
In reply to this post by Antony Penn
Hi

Question is would an investor pay a fee? As for vetting, to me the best vetting is done when a VC invests, the rest of it is just advice and pointers, which is all well and good, but you only know how good it is, when someone pays for it. But I guess a £50 buy-in (skin in the game) type of contribution should not be hard to sell

iqbal



From: Antony Penn <[hidden email]>
To: [hidden email]
Sent: Fri, 18 June, 2010 11:15:32
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.


On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

Antony Penn
In reply to this post by Antony Penn
My thoughts are that investors would prefer to pay a small 'finders' fee (for vetting the proposals) over the "percentage of investment" fee charged by other such services.


On 18 June 2010 11:22, iqbalgandham <[hidden email]> wrote:
Hi

Question is would an investor pay a fee? As for vetting, to me the best vetting is done when a VC invests, the rest of it is just advice and pointers, which is all well and good, but you only know how good it is, when someone pays for it. But I guess a £50 buy-in (skin in the game) type of contribution should not be hard to sell

iqbal



From: Antony Penn <[hidden email]>Sent: Fri, 18 June, 2010 11:15:32
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.


On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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RE: looking for funding? question about its value

Brian Milnes
In reply to this post by Antony Penn

Anthony,

For me the issue is almost entirely about preparedness.

Think Dragons’ Den – the producers actually want a good proportion of ill-prepared entrepreneurs that will give the Dragons stupid answers to straightforward questions, because it makes for good TV.

They have no shortage of such candidates.

I met one such at a Dragons’ Den style British Library event (with Doug Richard and Julie Meyer on the panel); Ed Wray with his Barbeskew. I suggested to him afterwards, that he might adjust his (pretty good) pitch when going on to the real thing as he was rather bolshie about his stance on various bits of his business that were clearly suspect.

He failed to take note, and got a mauling. (It was great TV.)

If you’ve got a filtered list of opportunities, then you’re providing a valuable service to both parties, and they should both be prepared to pay for that value.

Until recently, the Business Link service was offering potential entrepreneurs up to £200 towards one-to-one advice sessions with advisors. This allowed me and other such service suppliers to analyse and assist those entrepreneurs with their plans. (Or in a few cases, to throw them away and start again.) If the entrepreneurs aren’t prepared to spend that sort of money on themselves, are they serious about their proposition? (Alternatively, like Ed, rather over-confident…)

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:16
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.

On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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RE: looking for funding? question about its value

Brian Milnes
In reply to this post by Antony Penn

For anyone interested in the clip of Ed – here it is:
http://www.youtube.com/watch?v=hhcEloyaGHU

Interestingly, and give him credit for this, on his web site he describes the Dragons as “supportive” and “praising the Barbeskew”.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Brian Milnes
Sent: 18 June 2010 11:34
To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

Anthony,

For me the issue is almost entirely about preparedness.

Think Dragons’ Den – the producers actually want a good proportion of ill-prepared entrepreneurs that will give the Dragons stupid answers to straightforward questions, because it makes for good TV.

They have no shortage of such candidates.

I met one such at a Dragons’ Den style British Library event (with Doug Richard and Julie Meyer on the panel); Ed Wray with his Barbeskew. I suggested to him afterwards, that he might adjust his (pretty good) pitch when going on to the real thing as he was rather bolshie about his stance on various bits of his business that were clearly suspect.

He failed to take note, and got a mauling. (It was great TV.)

If you’ve got a filtered list of opportunities, then you’re providing a valuable service to both parties, and they should both be prepared to pay for that value.

Until recently, the Business Link service was offering potential entrepreneurs up to £200 towards one-to-one advice sessions with advisors. This allowed me and other such service suppliers to analyse and assist those entrepreneurs with their plans. (Or in a few cases, to throw them away and start again.) If the entrepreneurs aren’t prepared to spend that sort of money on themselves, are they serious about their proposition? (Alternatively, like Ed, rather over-confident…)

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:16
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.


On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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RE: looking for funding? question about its value

Philip Woodward
In reply to this post by Antony Penn

I’ve not used this service yet, but Venture Giant charges £100 after an investor contacts you (it’s only a one time fee, not every time a contact comes in).

http://www.venturegiant.com/

 

It seems a reasonable proposition and a reasonable price – no charge unless a match is made.

 

Regards,

 

Phil.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:32
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My thoughts are that investors would prefer to pay a small 'finders' fee (for vetting the proposals) over the "percentage of investment" fee charged by other such services.

On 18 June 2010 11:22, iqbalgandham <[hidden email]> wrote:

Hi

Question is would an investor pay a fee? As for vetting, to me the best vetting is done when a VC invests, the rest of it is just advice and pointers, which is all well and good, but you only know how good it is, when someone pays for it. But I guess a £50 buy-in (skin in the game) type of contribution should not be hard to sell

iqbal

 

 


From: Antony Penn <[hidden email]>

Sent: Fri, 18 June, 2010 11:15:32
Subject: Re: [entrepreneur-1056] looking for funding? question about its value


My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.

On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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RE: looking for funding? question about its value

Brian Milnes
In reply to this post by Antony Penn

Very interesting, Phil, here’s founder Rishi Anand on YouTube:

http://www.youtube.com/watch?v=nAhYF6z7NHw

 

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Philip Woodward
Sent: 18 June 2010 12:14
To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

I’ve not used this service yet, but Venture Giant charges £100 after an investor contacts you (it’s only a one time fee, not every time a contact comes in).

http://www.venturegiant.com/

 

It seems a reasonable proposition and a reasonable price – no charge unless a match is made.

 

Regards,

 

Phil.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:32
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My thoughts are that investors would prefer to pay a small 'finders' fee (for vetting the proposals) over the "percentage of investment" fee charged by other such services.


On 18 June 2010 11:22, iqbalgandham <[hidden email]> wrote:

Hi

Question is would an investor pay a fee? As for vetting, to me the best vetting is done when a VC invests, the rest of it is just advice and pointers, which is all well and good, but you only know how good it is, when someone pays for it. But I guess a £50 buy-in (skin in the game) type of contribution should not be hard to sell

iqbal

 

 


From: Antony Penn <[hidden email]>

Sent: Fri, 18 June, 2010 11:15:32
Subject: Re: [entrepreneur-1056] looking for funding? question about its value


My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.


On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

FTired
Administrator
In reply to this post by Antony Penn
Spent almost a decade in India, with startups and the entrepreneur scene, first time I have heard of this large network...but then again, had food poisoning for most of the 10 :-)

Iqbal



From: Brian Milnes <[hidden email]>
To: [hidden email]
Sent: Fri, 18 June, 2010 12:24:45
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

Very interesting, Phil, here’s founder Rishi Anand on YouTube:

http://www.youtube.com/watch?v=nAhYF6z7NHw

 

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Philip Woodward
Sent: 18 June 2010 12:14
To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

I’ve not used this service yet, but Venture Giant charges £100 after an investor contacts you (it’s only a one time fee, not every time a contact comes in).

http://www.venturegiant.com/

 

It seems a reasonable proposition and a reasonable price – no charge unless a match is made.

 

Regards,

 

Phil.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:32
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My thoughts are that investors would prefer to pay a small 'finders' fee (for vetting the proposals) over the "percentage of investment" fee charged by other such services.


On 18 June 2010 11:22, iqbalgandham <[hidden email]> wrote:

Hi

Question is would an investor pay a fee? As for vetting, to me the best vetting is done when a VC invests, the rest of it is just advice and pointers, which is all well and good, but you only know how good it is, when someone pays for it. But I guess a £50 buy-in (skin in the game) type of contribution should not be hard to sell

iqbal

 

 


From: Antony Penn <[hidden email]>

Sent: Fri, 18 June, 2010 11:15:32
Subject: Re: [entrepreneur-1056] looking for funding? question about its value


My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.


On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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RE: looking for funding? question about its value

Joana Picq
In reply to this post by Antony Penn

279GBP is not too low for a list of contacts. If anything it’s too high. Having someone’s email address is not what opens doors, it’s just the door itself.

I think knowing where to find the best doors might be worth £100, but the real value is in knowing how to open them.

 

Your friend should think about adding training/advice to it and make it worthwhile (and maximise customer success so she has good numbers to show for his matching business).

 

That’s just my view based on our pitching events and the entrepreneurs that come to use for funding, and that we had at astia, others might think differently.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Brian Milnes
Sent: 18 June 2010 11:53
To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

For anyone interested in the clip of Ed – here it is:
http://www.youtube.com/watch?v=hhcEloyaGHU

Interestingly, and give him credit for this, on his web site he describes the Dragons as “supportive” and “praising the Barbeskew”.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Brian Milnes
Sent: 18 June 2010 11:34
To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

Anthony,

For me the issue is almost entirely about preparedness.

Think Dragons’ Den – the producers actually want a good proportion of ill-prepared entrepreneurs that will give the Dragons stupid answers to straightforward questions, because it makes for good TV.

They have no shortage of such candidates.

I met one such at a Dragons’ Den style British Library event (with Doug Richard and Julie Meyer on the panel); Ed Wray with his Barbeskew. I suggested to him afterwards, that he might adjust his (pretty good) pitch when going on to the real thing as he was rather bolshie about his stance on various bits of his business that were clearly suspect.

He failed to take note, and got a mauling. (It was great TV.)

If you’ve got a filtered list of opportunities, then you’re providing a valuable service to both parties, and they should both be prepared to pay for that value.

Until recently, the Business Link service was offering potential entrepreneurs up to £200 towards one-to-one advice sessions with advisors. This allowed me and other such service suppliers to analyse and assist those entrepreneurs with their plans. (Or in a few cases, to throw them away and start again.) If the entrepreneurs aren’t prepared to spend that sort of money on themselves, are they serious about their proposition? (Alternatively, like Ed, rather over-confident…)

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:16
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My feelings generally reflect those that have answered to date. So far I think:
1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.



On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

Richard Forster
In reply to this post by Antony Penn
Anthony

I don't think the price is the issue. I don't think the database approach will work. For the reasons that everyone has given so far plus the fact that I doubt many angels would really want their details on a database nor receive a cold approach from an entrepreneur. 

I don't agree with the current UK Business Angel Networks approach of charging entrepreneurs upfront to pitch to networks either.  (Yes I've heard all the arguments for it but none of them are compelling imo, it doesn't happen in the US) 

cheers



Richard

On 18 June 2010 12:40, Joana Picq <[hidden email]> wrote:

279GBP is not too low for a list of contacts. If anything it’s too high. Having someone’s email address is not what opens doors, it’s just the door itself.

I think knowing where to find the best doors might be worth £100, but the real value is in knowing how to open them.

 

Your friend should think about adding training/advice to it and make it worthwhile (and maximise customer success so she has good numbers to show for his matching business).

 

That’s just my view based on our pitching events and the entrepreneurs that come to use for funding, and that we had at astia, others might think differently.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Brian Milnes
Sent: 18 June 2010 11:53


To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

For anyone interested in the clip of Ed – here it is:


http://www.youtube.com/watch?v=hhcEloyaGHU

Interestingly, and give him credit for this, on his web site he describes the Dragons as “supportive” and “praising the Barbeskew”.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Brian Milnes
Sent: 18 June 2010 11:34


To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

Anthony,



For me the issue is almost entirely about preparedness.

Think Dragons’ Den – the producers actually want a good proportion of ill-prepared entrepreneurs that will give the Dragons stupid answers to straightforward questions, because it makes for good TV.

They have no shortage of such candidates.

I met one such at a Dragons’ Den style British Library event (with Doug Richard and Julie Meyer on the panel); Ed Wray with his Barbeskew. I suggested to him afterwards, that he might adjust his (pretty good) pitch when going on to the real thing as he was rather bolshie about his stance on various bits of his business that were clearly suspect.

He failed to take note, and got a mauling. (It was great TV.)

If you’ve got a filtered list of opportunities, then you’re providing a valuable service to both parties, and they should both be prepared to pay for that value.

Until recently, the Business Link service was offering potential entrepreneurs up to £200 towards one-to-one advice sessions with advisors. This allowed me and other such service suppliers to analyse and assist those entrepreneurs with their plans. (Or in a few cases, to throw them away and start again.) If the entrepreneurs aren’t prepared to spend that sort of money on themselves, are they serious about their proposition? (Alternatively, like Ed, rather over-confident…)

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:16


To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My feelings generally reflect those that have answered to date. So far I think:


1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.



On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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Re: looking for funding? question about its value

Antony Penn
In reply to this post by Antony Penn
Thanks for the feedback everyone.

I think I will be meeting up with him shortly to discuss potential options.
Why is it that what often starts as me offering technical advice and support ends up dragging me in further in to people's businesses?!!





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RE: looking for funding? question about its value

Adam Gordalsi
In reply to this post by Antony Penn

Richard I’m in agreement with you and many others who’ve already commented.

 

Anthony this is not to be negative about your friend’s company proposal specifically but I would say the whole general approach is wrong in my opinion.

 

Of course I understand the “introduction” business model and why the industry has sprung up but somehow we need to get away from this charging culture. Surely entrepreneurs [with good ideas that will make money] and investors can be introduced to each other without the need of a middle man making something out of it.

Like many I know a number of successful business people with money to invest, and they in then will know others, but would never dream of being on a list or sign up to a monetised business angel group. Whatever investment level they will always find interesting concepts/businesses to invest in through their existing networks and contacts. I would say we need to move more toward this more let’s say old school approach. Just because the internet has provided a particular platform and approach doesn’t mean it’s the right one.

 

My 2p!

 

 

Adam Gordalsi

vuemotion

359 Roman Road

London

E3 5QR

mobile: 07903 462 865

fax: 0845 004 5790

email: [hidden email]

www.vuemotion.com

0845 868 0789

Click here for our vuemotion twitter updates
Click here to join my LinkedIn profile

 

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Richard Forster
Sent: 18 June 2010 13:00
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

Anthony

 

I don't think the price is the issue. I don't think the database approach will work. For the reasons that everyone has given so far plus the fact that I doubt many angels would really want their details on a database nor receive a cold approach from an entrepreneur. 

 

I don't agree with the current UK Business Angel Networks approach of charging entrepreneurs upfront to pitch to networks either.  (Yes I've heard all the arguments for it but none of them are compelling imo, it doesn't happen in the US) 

 

cheers

 

 

 

Richard

On 18 June 2010 12:40, Joana Picq <[hidden email]> wrote:

279GBP is not too low for a list of contacts. If anything it’s too high. Having someone’s email address is not what opens doors, it’s just the door itself.

I think knowing where to find the best doors might be worth £100, but the real value is in knowing how to open them.

 

Your friend should think about adding training/advice to it and make it worthwhile (and maximise customer success so she has good numbers to show for his matching business).

 

That’s just my view based on our pitching events and the entrepreneurs that come to use for funding, and that we had at astia, others might think differently.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Brian Milnes
Sent: 18 June 2010 11:53


To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

For anyone interested in the clip of Ed – here it is:


http://www.youtube.com/watch?v=hhcEloyaGHU

Interestingly, and give him credit for this, on his web site he describes the Dragons as “supportive” and “praising the Barbeskew”.

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Brian Milnes
Sent: 18 June 2010 11:34


To: [hidden email]
Subject: RE: [entrepreneur-1056] looking for funding? question about its value

 

Anthony,



For me the issue is almost entirely about preparedness.

Think Dragons’ Den – the producers actually want a good proportion of ill-prepared entrepreneurs that will give the Dragons stupid answers to straightforward questions, because it makes for good TV.

They have no shortage of such candidates.

I met one such at a Dragons’ Den style British Library event (with Doug Richard and Julie Meyer on the panel); Ed Wray with his Barbeskew. I suggested to him afterwards, that he might adjust his (pretty good) pitch when going on to the real thing as he was rather bolshie about his stance on various bits of his business that were clearly suspect.

He failed to take note, and got a mauling. (It was great TV.)

If you’ve got a filtered list of opportunities, then you’re providing a valuable service to both parties, and they should both be prepared to pay for that value.

Until recently, the Business Link service was offering potential entrepreneurs up to £200 towards one-to-one advice sessions with advisors. This allowed me and other such service suppliers to analyse and assist those entrepreneurs with their plans. (Or in a few cases, to throw them away and start again.) If the entrepreneurs aren’t prepared to spend that sort of money on themselves, are they serious about their proposition? (Alternatively, like Ed, rather over-confident…)

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 11:16


To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

My feelings generally reflect those that have answered to date. So far I think:


1. finding a 'cold' list of investors is not difficult (for all but the very green)
2. charging a percentage finders fee puts off investors, plus brings it's own legal complications.
3. places like angels den and LBA vet proposals (good for investors) but charge both a fee AND a fairly high fixed fee (bad for entrepreneurs)
4. I know his list has been personally vetted to a degree (so is more valuable than a google search, etc).

How about charging entrepeneurs a small fee (say 50-100) for basic vetting of their plans, then charging the investors a small fixed fee (hundreds rather than thousands) payable only IF they invest in said business? How would you guys feel about that?

I think he is trying to create something thats attractive to all concerned out there and a little different to current offerings.


On 18 June 2010 10:49, Brian Milnes <[hidden email]> wrote:

Anthony,

The way you’ve described it appears to offer little value. Finding Angels and VCs isn’t particularly difficult (although if you don’t know where to look, or who to ask, it can appear so).

The so called “equity gap” is a bit of a fallacy; investors want opportunities. The problem for them is mostly the naïve state of most propositions looking for money. This is where services like Bill Morrow’s Angel’s Den the London Business Angels and individual business advisors like me come in, helping prepare them to a state of investor readiness. The first two provide access to their own investors, too.

That’s a brief perspective of the competitive environment for your friend.

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 10:12

Subject: [entrepreneur-1056] looking for funding? question about its value

 

Hi all,

A friend of mine has recently set up a company to offer a matching service for entrepreneurs looking for angel or VC investment. The idea is that you specify the money, stage, industry, etc of your proposal, pay a single flat fee, and are given details of investors that might be interested (from a database of about 4500 worldwide).

My question is: what is this worth to entrepreneurs? The price is currently set to 279 GBP, but some have suggested that is too low.
Also, are you interested in a quick/simple "here are my details, match me up" service or do entrepreneurs want more add-on services, such as business plan help, legal document template library, etc?

Would anyone on this list who is looking (or has looked) for investment care to share their views on the price point / potential services? either private email or via discussion here.

Thanks,
Antony





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RE: looking for funding? question about its value

Adam Gordalsi
In reply to this post by Antony Penn

Oh no!! Don’t start that one again !

 

 

Adam Gordalsi

vuemotion

359 Roman Road

London

E3 5QR

mobile: 07903 462 865

fax: 0845 004 5790

email: [hidden email]

www.vuemotion.com

0845 868 0789

Click here for our vuemotion twitter updates
Click here to join my LinkedIn profile

 

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 18 June 2010 13:28
To: [hidden email]
Subject: Re: [entrepreneur-1056] looking for funding? question about its value

 

Thanks for the feedback everyone.

I think I will be meeting up with him shortly to discuss potential options.
Why is it that what often starts as me offering technical advice and support ends up dragging me in further in to people's businesses?!!





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Re: looking for funding? question about its value

Ali Ahmed
In reply to this post by Antony Penn
Hi,

I haven't really commented on this forum before, but since I'm currently looking for funding for my startup I'd also like to echo some of the words said here by much more experienced open coffee'rs to Antony. I think that entrepreneurs by nature are enterprising individuals, and as such can find sources of funding through research and sheer determination without having to pay for it. I wouldn't pay anyone who offered the chance to possibly invest in my business. It just seems like an organized scam.

Although having said that, I also think that there will always be a market for paid services that connect entrepreneurs to investors. It depends on how different your friend wants his business to be. A few things come to mind are if he positions his business as a service consultancy to angel and independent investors, similar to how contingency recruitment consultancies work. Build a database of entrepreneurs seeking investment and offer this to interested investors, and take a cut in the middle, an agreed small percentage of the first funding deal negotiated between an entrepreneur in your network and an investor.

Just an idea. Best of luck with the venture.

Regards,
Ali

On Fri, Jun 18, 2010 at 1:28 PM, Antony Penn <[hidden email]> wrote:
Thanks for the feedback everyone.

I think I will be meeting up with him shortly to discuss potential options.
Why is it that what often starts as me offering technical advice and support ends up dragging me in further in to people's businesses?!!






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Re: looking for funding? question about its value

Ali Ahmed
In reply to this post by Antony Penn
I meant much more experienced than me, not than Antony. Sorry for the confusion. :P

Also had another idea that your friend could potentially use to differentiate his offering, he could use his business to screen entrepreneurs and their ventures based on briefs sent by interested investors. Or post these kinds of briefs on a dedicated website where entrepreneurs, after being screened, could use to find potential investors that match their needs. There may be services like this already, but I haven't really come across one.

Best regards,
Ali

On Fri, Jun 18, 2010 at 1:39 PM, Ali Ahmed <[hidden email]> wrote:
Hi,

I haven't really commented on this forum before, but since I'm currently looking for funding for my startup I'd also like to echo some of the words said here by much more experienced open coffee'rs to Antony. I think that entrepreneurs by nature are enterprising individuals, and as such can find sources of funding through research and sheer determination without having to pay for it. I wouldn't pay anyone who offered the chance to possibly invest in my business. It just seems like an organized scam.

Although having said that, I also think that there will always be a market for paid services that connect entrepreneurs to investors. It depends on how different your friend wants his business to be. A few things come to mind are if he positions his business as a service consultancy to angel and independent investors, similar to how contingency recruitment consultancies work. Build a database of entrepreneurs seeking investment and offer this to interested investors, and take a cut in the middle, an agreed small percentage of the first funding deal negotiated between an entrepreneur in your network and an investor.

Just an idea. Best of luck with the venture.

Regards,
Ali

On Fri, Jun 18, 2010 at 1:28 PM, Antony Penn <[hidden email]> wrote:
Thanks for the feedback everyone.

I think I will be meeting up with him shortly to discuss potential options.
Why is it that what often starts as me offering technical advice and support ends up dragging me in further in to people's businesses?!!






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