Feedback about contact, conversations and meetings assists us to match your file more closely. It often identifies different approaches to the matching that were not obvious when you completed your registration form. Also, we often find that meetings flush out possibilities that were not previously considered and this can change the matching criteria. When you register with us you agree to provide this feedback continually through the process until you complete your negotiations.
The feedback that will assist your search and enhance our ability to guide you to a successful result is this:
We encourage people to meet each other in person. So many deals have been done after a meeting, deals which may not have appealed on paper.
Be assured that feedback is treated as highly confidential.
" I met with the investor again yesterday, they are truly wonderful people. He really likes the product and likes me. It's a very important component of any relationship. He is realistic and has a good handle on the product. He mentioned that normally they wouldn't delve too deeply into a product with only a partially developed business plan. We are to meet again early next week to crunch some numbers so he can decide whether to invest his time and money. Regardless of whether he does or not, it has been a good experience and at the same time he has opened my eyes up to new directions we can take. It's refreshing to have someone take interest in both the business and you. Most investors would have most likely shown me the door without saying anything. It just goes to show how that silly show "Shark Tank" has put investors into a negative light. The investor is the complete opposite and I would endorse him any day regardless of whether he comes on board. JP 2015
Admirable initiative. Too dependent on a founder's pure philosophy and profile. She is not a known name. I think she should look for community funding first and develop a proof of concept. She will need a strong female mentor in my opinion. I will pass on that as not my forte. She should seek local funding from community or social development funding and link to another female mentor to build momentum. Given the ANZ focus on female empowerment and the money they are putting there that could be worth a punt for her. Gail Kelly ex of Westpac, Collette Garnsey of Premier Brands or some other name etc would be good for her to reach out to. She needs a profile endorsement. She obviously has passion now she needs to add gravitas.
Not for me. Pure portal and no sustainable differential. I could emulate that in days using a sourcing agent, search algorithm, a research intern, and probably manufacture my own for most of the products. Needs a design overview, like Aden and Anais /Goop/Draper James etc . She is lacking a lifestyle spin, a mission or a vision (causal link maybe a la Toms footwear). I don't think I could add value other than some funds which would never be enough to create a scaleable business. Will probably remain a part time operator business at best as is currently conceived. Really needs to pivot the business model to have a point of view or greater mission (not only not inshops/ no child labour / child housing/ education as examples etc)
The investors are sent a short list of opportunities based on their requests and our matching.
This investor received 8 referrals and replied immediately ......
We have reviewed the list of business opportunities and will be making contact with the following four companies within the next few days:
x x x & x
We will not be contacting the other companies outlined for the following reasons:
xxxx: This is a very competitive area of the market and will require deep funding for advertising. We do not see any major differentials over current product ranges available.
xxxx: Substantial investment required for minor controlling interest.
xxxx: As previous, and product has a number of local competitors.
xxxx: Small overall market size, and we offer limited experience.
We will let you know how we progress with the 4 contacts mentioned. In the interim, can you also pls let us know if you have any importers and distributors not limited to our industry that we may contact.
I met with xxx last Wednesday and we are still talking. It is an interesting opportunity and he can see my skill set being useful and different to what they already have.
yyy: this is something that could be linked to company xxx if I proceed with it but I don't think I'd be interested by itself given level of investment it requires to get going.
Feedback from Businesses:
The meeting with Investor A was extremely disappointing, in that he was more interested in what he had to tell us about what he had done with his life and how much money he had made, and would not listen to any of our ambitions or strategic objectives. He shared none of the passions needed to grow our business and not once were we allowed to even finish a sentence without interruption.
Met with Investor B today. We had a good exchange of information. I found B easy to talk with and he seemed to have a professional approach to the discussions. He has asked for some more detailed information and I have agreed to provide same next week. I would expect to have further discussions during the next two weeks and will advise you of any developments.
Business is looking for a passive shareholders ($100,000 this round). They can't see how I could contribute. Monies invested to be used to fund operations till business become cash positive. Good ideas but huge barriers from target market/industry to get volume that is needed to run business. Feels too much like a dotcom company wanting to strike it rich when it? gets listed.
I wanted to let you know that xxx signed a term sheet this morning.
Formal agreements and due diligence will take a week or two to finalise. I am really looking forward to working with xxx.
Finally, the first person you introduced who has seen the product will invest which is a good sign. Thanks for the introduction.
The first investor was basically wanting to take a majority share of the company and not give me the option of buying it back when he had made his money, needless to say that didn't workout.
This investor received 6 referrals, most he declined to contact. This is what he said about one of the two he did decide to contact:
"I am meeting him: Wednesday next 3pm at my office. He produced the only concise, explicit description of his business and his needs. A marvel of communication."
When [the investor] phoned me after your e-mail I discovered that he is a local and drives past my property going to and from his office each day. I invited him around to inspect the product to ascertain if it was something he would want to be involved with. He commented he liked the unit and it was much better and more sophisticated than he had imagined.
During the discussion that ensued he told me about his group, his involvement and why they use Business Angels. He gave me a little of his personal history and I discovered that his father used to teach me Tech Drawing at High School for the 5 years I was there. He left saying he would do some research and discuss it with his partners before he would contact me again. I found him to be very personable, a good listener and someone who was careful about the questions and answers he asked and gave. His prime objective was obviously to gather enough information on the our units to enable him to carry out his own research from his company's perspective.
Writing this feedback assists the business and the investor to clarify their own needs and it assists me to continue working on their files.
The business wrote:
The investor wrote:
I met with xxxx and xxxx today for about 3 hours.
PS When I spoke to the business owner she is more than happy to part with equity for this calibre of investor. She agreed that my matching skills were beyond her expectation.