Finding an Angel Investor in a Day. Joseph R Bell

      The In A Day Promise

      Get it done right, get it done fast

      You’re busy. We can help.

      The Planning Shop is dedicated to helping entrepreneurs create and grow successful businesses. As entrepreneurs ourselves, we understand the many demands placed on you. We don’t assume that you’re a dummy, just that you’re short on time.

      This In A Day book will enable you to complete a critical business task in a hurry—and in the right way. We’ll guide you through the process, show you what you absolutely have to do, and give you tips and tricks to help you reach your goals.

      We’ve talked to the experts and done the research so you don’t have to. We’ve also eliminated any unnecessary steps so you don’t waste your valuable time. That’s the In A Day promise.

      Can you find an angel investor in just one day? Well, in less than a day, with the help of this book, you can learn what you need to know to locate an angel, develop a plan of action to find the right investor for you, grasp the terms you need to know to be comfortable talking with potential funders, and then discover how to best pitch to an angel and begin negotiations.

      When you have a business task you need to do now, The Planning Shop’s In A Day books will help you get it done—in as little as a day. You’ll get it done right, and get it done fast!

      About

      Joseph R. Bell

      Joseph R. Bell is an Associate Professor of Entrepreneurship at the University of Arkansas at Little Rock and the CEO of Bell Consulting, LLC, a 13-member business-advisement firm. Joe has an MBA in Finance from Michigan State University and a Law degree from Thomas M. Cooley Law School.

      Joe began his career as a securities attorney syndicating real estate projects, and oversaw more than $1 billion of IPOs representing 150 offerings annually. He served as director of two small business centers and went on to the Governor’s Office to direct Colorado’s statewide small business program. He then became the executive director of the Bard Center for Entrepreneurship Development at the University of Colorado, where he managed the Rutt Bridges Venture Capital Fund, as well as the school’s new-business incubator.

      While an assistant professor and director of the Entrepreneurship Center at Monfort College of Business (winner of the 2004 Malcolm Baldrige National Quality Award) at the University of Northern Colorado, Joe was concurrently the COO for CTEK Angels, where he reviewed new deals and worked with entrepreneurs to prepare their presentations to the seventy-five-member angel investor network.

      His academic research and publications on angel investing have garnered national awards, including the 2006 U.S. Association for Small Business and Entrepreneurship/Small Business Institute’s “Best Workshop/Symposia Small Business Award” and the McGraw-Hill/Irwin Outstanding Paper Award for “Educating Entrepreneurs on Angel and Venture Capital Financing Options,” of which he was co-author.

      About

      The Planning Shop

      The Planning Shop specializes in creating business resources for entrepreneurs. The Planning Shop’s books and other products are based on years of real-world experience, and they share secrets and strategies from entrepreneurs, CEOs, investors, lenders, and seasoned business experts. Entrepreneurs have used The Planning Shop’s products to launch, run, and expand businesses in every industry.

      CEO Rhonda Abrams founded The Planning Shop in 1999. An experienced entrepreneur, Rhonda has started three successful companies. Her background gives her a real-life understanding of the challenges facing people who set up and run their own businesses. The author of numerous books on entrepreneurship, Rhonda has had three books appear on Bookscan’s Top 50 Business Bestseller list. Her first book, The Successful Business Plan: Secrets & Strategies, has sold over 600,000 copies and was acclaimed by Forbes and Inc. magazines as one of the top ten business books for entrepreneurs. Rhonda also writes the nation’s most widely circulated column on entrepreneurship and small business. Successful Business Strategies appears on USAToday.com and Inc.com and in more than one hundred newspapers, reaching millions of readers each week.

      The Planning Shop’s books have been adopted at more than four hundred business schools, colleges, and universities.

      The Planning Shop’s expanding line of business books includes:

       The Successful Business series, assisting entrepreneurs and business students in planning and growing businesses. Titles include Six-Week Start-Up, What Business Should I Start?, and The Owner’s Manual for Small Business.

       The In A Day series, enabling entrepreneurs to tackle a critical business task and “Get it done right, get it done fast.™” Titles include Business Plan In A Day, Winning Presentation In A Day, and Trade Show In A Day.

       The Better Business Bureau series, helping entrepreneurs and consumers successfully make serious financial decisions. Titles include Buying a Franchise, Buying a Home, and Starting an eBay Business.

      At The Planning Shop, now and in the future, you’ll find a range of business resources. Learn more at www.PlanningShop.com.

      Foreword

      by Paul Orfalea,

      Kinko’s Founder & Author of Copy This!

      In 1970, Paul Orfalea started his business with one copy machine in a tiny space carved out from a hamburger stand in Santa Barbara, California. From that, he built a copying empire, Kinko’s, which was later acquired by FedEx for $2.4 billion.

      Wouldn’t it be nice if investors lined up to give you money, and the tough part of fundraising was deciding whose money to take? I’ve been on both sides of the business fundraising table, but building Kinko’s was a little more luxurious than most experiences, because our co-workers were so eager to invest in the company. Rather than a franchise or corporate ownership structure, we created a series of partnerships. Each partnership owned the Kinko’s stores in a geographic area.

      Eventually, I had more than 200 partners in 127 partnerships. That’s a lot of investor-partners, and there was no shortage of conflict. But there were also more eyes, ears, and ideas available. When you work with good partners, you’re better able to stay focused on the big picture—to look ahead at ways to grow your company and deal with the major issues, not just the day-to-day problems. You’re able to work “on” your business, not just “in” your business.

      Fundraising is never easy. I know that from experience, because we had a very democratic structure at Kinko’s, so I frequently had to sell 200 partners on the necessity of re-investing for growth. It takes more than persistence to raise the money you need. You need to know how to approach people, how to pitch yourself and your ideas, how to get to know the people you’ll be asking for money and eventually working with.

      After Kinko’s, I started an investment firm called West Coast Asset Management. While the company focuses on public equities, we also receive many requests from private companies. My partners and I sort through numerous proposals every week, and I’ve been able to see what many entrepreneurs do right—and many more do wrong—when seeking money for their businesses.

      As a prospective investor, I look for three things first:

      1 1. I want a brief and clear presentation of what the business does, how it makes money, and how it makes money for investors.

      2 2. Does the proposal ask for enough money? Liquidity is essential;