Feedback

Guidelines for working with us

A crucial part of this process is the feedback that each person gives about contact, conversations and meetings. This feedback assists us to match your file more closely and often to identify 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:

I phoned / met with 'john' as a person he is ........
We could/could not work together because .......
His business/skill is/is not a good fit because ...
We are continuing our discussion, the proposal so far is .....

We encourage people to meet each other so that people are not treated as abstractions.

Be assured that feedback is treated as highly confidential.

Enter feedback here

Feedback examples

Feedback from Investors:

Investor A

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.

Investor B

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.

and then

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:

Thumbs down:

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.

Thumbs up:

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.

Thumbs down:

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.

Thumbs up:

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.

Thumbs down:

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.

Some tips for filling in the registration form

When answering questions place yourself in the other person's shoes and ask: Would I respond with enthusiasm to this information?

If you are a business seeking an angel investor, is your description detailed enough to motivate the investor to pick up the phone to speak to you in person?

Have you listed all the possible ways for an investor to be involved in your business? Some angels want a lot of involvement, some only want regular updates and to give advice as required. Many investors tell me that the entrepreneurs only want their money ... would you be happy with this is you were the investor?

In our manual, "Private Capital for Private Companies" you will find many tips for attracting the right investor.

A Good Tip to get a quick response from an investor.

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."

Here is an example of some excellent feedback in 2008

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.

Here is an example of some excellent feedback in 2010

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:

We met with xxxx as a person he is very positive, energetic and comes across as intelligent.
We could easily work together because he quickly understood our situation and the direction we wanted to head. Was empathetic to our roles in the business and how they will change with an extra person coming in. But mainly because he wants what we want and that is to take advantage of the opportunities in front of us.
His skill is a good fit because he has all round experience and every area of our business which needs to change and grow to satisfy the market demand.
We are continuing our discussion, the proposal so far is to think about what we have discussed. For me to look at the figures and confirm the direction we are heading if he does come on board and for xxx to think about what he wants.
Overall I'm very impressed, we really didn't think we would find someone with such insight into what we want to achieve. I found myself underselling the business when discussing it and he was able to think further past what I was saying and confirm the picture I had built in my head.

The investor wrote:

I met with xxxx and xxxx today for about 3 hours.

We discussed many things about the current state of her business, her plans, its needs and her direction forward. She is a bright girl who has a clear picture of where she wants the business to be. Her partner is very supportive.
When i asked her what is was that she wanted from an investor she talked mainly about mentoring, help with the growth plan and someone to bounce ideas of. I offered her a number of suggestions to issues that arose during the conversation to which she responded positively, so i believe that we were on the same wave length. I could work with her on what I found today.
When i asked about how she would like the investment to work, it became a little unclear. I said that i would prefer to take an equity position and then work in the business as an employee as well, she was cautious about the idea of giving up equity and preferred the idea of the money being like a loan ?.. I said that was not really of interest to me, its an area that you might be able to give her some guidance on. As we discussed further I indicated that was not wanting to take her business away or control it but by putting in the cash, but that it was a chance to grow and that was worth an equity position, she was coming around, as you know its about trust and knowing whether you can get on with someone, as xxxx said its a bit like dating!!.. i had to laugh
Christine, this is a great little business that can really go places with some extra funding and a organised retailer to help set up the wholesale and online distribution channels, as I told them both I am keen to get involved but need to sort out how it will work.

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 expectations.

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