| Within days of posting on one of the
| |
| | my particular venture falls into the
|
| many websites created for entrepreneurs
| |
| | categories of both a startup and a highly
|
| to post summaries designed to draw the
| |
| | uncommon business sector for Angel
|
| attention of potential investors, an
| |
| | investment. Add to that our need for $3
|
| email inquiry from the AngloAmerican
| |
| | million in funding and the combination
|
| Investment Group and one Anthony
| |
| | scares most Angels groups away, let alone
|
| Oppenheim. Mr. Oppenheim explained in his
| |
| | individual investors. Three million
|
| email that from his Peachtree St. office
| |
| | dollars starts to encroach on the
|
| in Atlanta, he represented a consortium
| |
| | institution investment landscape
|
| of private investors and mostly European
| |
| | controlled by venture capitalists and
|
| family trusts that were specifically
| |
| | investment bankers. Five million dollars
|
| looking for investments in globally
| |
| | is the limit for most Regulation D
|
| oriented businesses like ours. They don't
| |
| | offerings without getting into investor
|
| charge any up front fees to review
| |
| | sophistication requirements. Get into
|
| business plans. They represent the
| |
| | that arena and be prepared to invest in
|
| decision makers and can write checks for
| |
| | the high five figures just to get started
|
| the right investments, etc. Please call
| |
| | looking for more money, with no
|
| him to discuss the venture.Wow! Could we
| |
| | guarantee. Who are these entrepreneurs
|
| be that lucky? Although the email came
| |
| | that have that in their back pocket? No
|
| from a Comcast.net address, it's not
| |
| | one just getting started, that's for
|
| unheard of for even big investors to use
| |
| | sure.So what are the alternatives when
|
| common email addresses. It contained
| |
| | there are no rich Uncles or neighbors
|
| phone numbers and address information
| |
| | that just won the lottery and don't know
|
| that matched the Atlanta area and surely
| |
| | where to put their money? I can only
|
| a huge conglomerate like the Anglo
| |
| | speak from experience in that finding one
|
| American Investment Group would clamp
| |
| | or two true believers that have a network
|
| down quickly on any scam artists brazen
| |
| | of accredited investor type clients or
|
| enough to openly use their brand. We were
| |
| | friends is your best bet. Six degrees of
|
| pretty excited.A phone call to Mr.
| |
| | separation no longer applies thanks to
|
| Oppenheim gave good reason to believe
| |
| | the internet. I'll guarantee you know
|
| they were for real. A professional
| |
| | someone who knows someone who knows a
|
| demeanor, the right questions asked and
| |
| | likely investor. The trick is getting the
|
| quick answers to any concerns we had.
| |
| | word out without alerting every would-be
|
| They invest in people as much as
| |
| | competitor, idea stealing piracy gang or
|
| projects. We'd be invited down to Atlanta
| |
| | scam artist that will nickel and dime you
|
| to meet him and his associate Al Dubin
| |
| | to death. Truth be told, that's a high
|
| ("D-U-B-I-N, yes that's the correct
| |
| | wire act of its own.There are literally
|
| spelling" the conversation went as I took
| |
| | hundreds of websites advertising Angel
|
| notes) and review our business plan in
| |
| | groups or supposedly acting as a clearing
|
| detail. FedEx 10 copies of the business
| |
| | house for Angels to search for
|
| plan before coming down. A non-disclosure
| |
| | investments they're interested in. You
|
| agreement was not a problem. If they like
| |
| | can quickly spend tens of thousands of
|
| what they see and hear we'll quickly see
| |
| | dollars in submission fees or retainers
|
| a Term Sheet. He'd send details about the
| |
| | for individuals or groups that will claim
|
| accommodations in Atlanta."Awesome" my
| |
| | to have a professional team that will
|
| son said.Then things took a strange turn.
| |
| | "evaluate" or screen your business plan
|
| The next email read like a bad mass mail
| |
| | before they allow you access to investors
|
| piece. They had reviewed our business
| |
| | even online. In reality many of these
|
| plan (funny...we hadn't sent them yet)
| |
| | websites are simply an introduction to
|
| and were prepared to invest the full
| |
| | someone that will drain your bank account
|
| amount. They boasted about investments
| |
| | as they offer to take you to the next
|
| made in places like Shang Hi (interesting
| |
| | stage or introduce you to "real"
|
| spelling for Shanghai). A request from us
| |
| | investors.Even some fairly well known
|
| for references or contact with legitimate
| |
| | Angel groups claim a qualified screening
|
| past investments as our real due
| |
| | process that is really a single
|
| diligence kicked in resulted in a email
| |
| | individual that, unless your business
|
| that asked us to supply more information
| |
| | plan happens to be that person's flavor
|
| than even the government knows about us.
| |
| | of the month, often even the best ideas
|
| And unfortunately Mr. Dubin's name had
| |
| | don't make it through to the real
|
| suddenly changed to Dublin.The jig was
| |
| | investors' eyes. So ask lots of questions
|
| up.One look at would have saved us some
| |
| | before you pay any fees and understand
|
| time since these characters have been at
| |
| | exactly what you get for your money. Talk
|
| it for a while and apparently the con is
| |
| | to entrepreneurs they claim to have
|
| to get entrepreneurs desperate for
| |
| | funded and find out how their process
|
| funding to believe that Anglo American
| |
| | really worked.There are several
|
| will gladly fund them if the entrepreneur
| |
| | directories of legitimate Angel groups
|
| will pay the travel expenses of one of
| |
| | and investment firms. One that I found
|
| their representatives for site visits and
| |
| | fairly comprehensive is And there are
|
| setting up an offshore "escrow" account
| |
| | software applications that are available
|
| for safe keeping of the funds until the
| |
| | to let you slice and dice who you look up
|
| deal is done. Upwards of
| |
| | by stage or sector or geography or any
|
| $40,000.Entrepreneurs, like most creative
| |
| | number of other demographics.
|
| people, are an odd lot (I can say that
| |
| | Posting any venture information online
|
| being what's called a "serial"
| |
| | is dicey if you're not familiar with
|
| entrepreneur) and matching them and their
| |
| | securities laws. Have a good securities
|
| projects with them right Angel investors
| |
| | attorney review anything you post to
|
| is a often a long, incredibly frustrating
| |
| | ensure you don't step over the line of
|
| and expense process. Hundreds of ideas
| |
| | selling securities without a license.
|
| die on the vine for lack of the life
| |
| | Don't be telling people they can expect
|
| giving flow of cash. And anyone who
| |
| | an average of 90% annual return on
|
| thinks the process is easy, has had way
| |
| | investment, even if it's true. Unless you
|
| too common an idea, asked for way too
| |
| | like orange jumpsuits, of course. Even
|
| little investment and probably given up
| |
| | seemingly innocuous language sometimes
|
| way too much equity.The costs of raising
| |
| | pushes the boundaries of information to
|
| capital to start any business from
| |
| | advertisement.And then of course we come
|
| scratch are mind-numbing. If you're doing
| |
| | back to the interesting inquiries you'll
|
| a securities offering in even the most
| |
| | get by posting information about your
|
| basic form, a good attorney will be $200
| |
| | business online. From the Malaysian
|
| per hour and up. And your accounting firm
| |
| | doctor who invites you to fly to Kuala
|
| better be top notch as well. Want a
| |
| | Lumpur (at your own expense) to seal the
|
| Private Placement Memorandum? Better have
| |
| | deal without ever having so much as
|
| a nice house that you're willing to
| |
| | spoken to you on the phone. To Vernon
|
| mortgage to the hilt or sell that brand
| |
| | Jones who has $6 million given to him by
|
| new Lexus in your driveway that you paid
| |
| | a woman in Libya that happens to be
|
| cash for last year. Wait a minute. You
| |
| | stored right now in the Bank of Ghana,
|
| don't have either one of those? You spent
| |
| | but calls from a rented house with a
|
| every penny of extra cash you had to
| |
| | phone number owned by someone named
|
| developing your idea to the business plan
| |
| | Neomia Green. Or the gentleman from
|
| stage?As my cronies from the Great Lakes
| |
| | Thailand that was surprised to learn that
|
| states say "You're S.O.L." The days of
| |
| | I actually called the company in
|
| investing in just a concept are long
| |
| | Australia whose email address he was
|
| gone.Today it's all about proven business
| |
| | using illegally, and still claimed I
|
| models in the form of an already
| |
| | judged him too fast. It's always amazing
|
| operating business generating some form
| |
| | to me that these con men assume that
|
| of revenue from somewhere. The friends
| |
| | their marks don't know how to use
|
| and family round of funding completed and
| |
| | Google.Or that Anglo American bunch, who
|
| likely one or two major investors from
| |
| | by any other name, still reeks of a
|
| your own network of wealthy folks is the
| |
| | scam.The sad part is that apparently the
|
| sweet spot for attracting "early stage"
| |
| | authorities don't have the man power
|
| Angel investment. And some sectors are
| |
| | enough to snare these low level n'er do
|
| naturally sweeter than others. Being
| |
| | wells since we continue to get emails
|
| situated near the Research Triangle Park
| |
| | from these crooks despite calls and
|
| area of North Carolina, a virtual
| |
| | emails to various law enforcement
|
| incubator for bio-tech, life science and
| |
| | agencies.The bottom line is that it
|
| high tech business ventures, trying to
| |
| | really does take money to make money,
|
| sell local Angels on an idea for the
| |
| | even if it's not your own. The economy is
|
| formation of a new insurance company, no
| |
| | headed in the right direction for
|
| matter how sexy the plan, rarely even
| |
| | entrepreneurs of all sorts, but
|
| makes it into the evaluation process. The
| |
| | understand the process and cost of
|
| Angels of Silicon Valley look mostly for
| |
| | raising outside capital before you get
|
| ideas in a different sector that needs no
| |
| | into it. Find yourself a mentor than has
|
| description.In fact, most Angel groups
| |
| | been through the entire process. Ask a
|
| will readily identify those business
| |
| | lot of questions and learn from their
|
| ideas that they're interested in and
| |
| | mistakes.After all, the wheel has already
|
| those they're not. Unfortunately for me,
| |
| | been invented.
|
