Customer Reviews

Every Business Needs an Angel: Getting the Money You Need to Make Your Business Grow

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1 star:		(1)

 

 

I'm a serial entrepreneur... and lately when I mention that to people, they almost look at me with sympathy. They tell me how difficult it must be for me right now. Well, yes, it is a tough economy out there, but "Every Business Needs an Angel" really gave me a renewed sense of optimism, in myself and the whole process of launching a new venture.

As May and Simmons write, "it takes more than just a good idea and a business plan these days." The real-life stories in their book discuss how successful businesses get started and the benefits of having an "angel" on board. The book goes beyond others, which merely talk about the capital and expanded network that an angel can bring to the table. May and Simmons dig down to uncover the specifics behind organized angel groups, how to find the right type of angel, and how to negotiate investment terms.

I highly recommend this book. Not only for entrepreneurs such as myself, but for anyone who is looking for an introduction to angel investing, or anyone who would just like to read some real-life stories about early-stage companies. We hear a lot about the Cisco's and Intel's or the world, but this book gives the reader an incredible insight into young and emerging ventures. It's very easy to read, and written in such a way that you can skip around to different chapters if you choose to do so.

John May and Cal Simmons are old hats in the Washington DC/Northern VA community. They each have grown businesses and
have helped countless entrepenuers in the DC Metro area. They
run several Angel Investor Groups and a business incubator.
Their book tells the story of many of the folks they have
helped over the years. This is an INSIDERS view of the process
of raising capital to get your business going and making it
successful! If you are planning on starting a business, read
this book now!

"Every Business Needs an Angel" will become a treasured resource to scientists and scholars with great credentials and ideas but with little formal business background and training. It is an excellent travel guide for "intellectual property" company entrepreneurs who are represented by top tier lawyers and accountants but who also wish to acquire, on their own and in advance, an overall perspective and broad oriention to the entire fund raising process along with insight into what to expect and direction about how to behave.

May and Simmons provide an entertaining, fascinating-to-follow road map of the complete process of working with investors which will appeal especially to those who are uncomfortable when put into the position of accepting advice and direction from their professional advisors without some overall comprehension of the substance and scope of the territory which will be navigated together. This book is a first rate companion for what may initially appear to be a very bewildering journey.

An anachronistic view of the tech bubble circa late '90s. Dated and stale. Belongs in the Smithsonian Museum of American History.
Does not address the current dismal economic reality of the Angel system.

A really good intro to the inner works of angel investing, useful for angels and entrepreneurs alike. Focuses on angel groups (the author makes his living managing some large angel groups). A must read insider account if you're starting an angel group or, alternatively, are an entrepreneur looking for angel money. Don't read it for a definitive textbook on everything you need to know about business plan writing, making a equity deal etc. but invaluable nonetheless.

I have read several angel books as well as having spent 5 years running a large fund in the Valley, and I just don't feel that Cal and John have their views correct. The investment world has changed and those who can be to the point and have a good idea with good management have a shot. However, I hope for these folks that Cal and John are not on the other side of the table evaluating.

This is a fun, easy-read on the subject of angel clubs - which are valuable but should not be confused with real individual angel investing. John and Cal's writing style is case-book and easy to read. This is a business book that makes you smile ... a little bit because the stories are fun ... and a little bit because there are a lot of not-so-happy stories that they don't tell you about. But being the perpetual optimist, I like reading about the nice stories.

This is the best book I've read about how those individual investors make decisions with their own money when facing start up companies - entrepreneurs. Maybe the authors are right - every business any where needs angels.

I have the pleasure of being a member of one of John May's groups, Active Angel Investors (http://activeangelinvestors.com/) and I am extremely glad I joined this group.

And now for a one sentence review of the book:
Just the first three chapters (How Angels Evaluate Entrepreneurs, When to Dance with an Angel, & Finding Angels and Making your Pitch) are worth the price of the book and if you are a successful entrepreneur, they can be worth millions!

Some other good books for angel info can be found at the Angel Capital Association's website - http://www.angelcapitalassociation.org/dir_resources/books.aspx

Here's the list for your convenience:
* Benjamin, Gerald A. and Margulis, Joel B., Angel Investing - How to Find and Invest in Private Equity, New York: John Wiley & Sons, 2000.

* Benjamin, Gerald A. and Margulis, Joel B., The Angel Investor's Handbook: How to Profit from Early-Stage Investing, New York: Bloomberg, 2001.

* Gompers, Paul and Lerner, Josh, The Venture Capital Cycle, Cambridge, MA, MIT Press, 1999

* Hill, Brian E. and Power, Dee, Attracting Capital From Angels: How Their Money and Their Experience Can Help You Build a Successful Company, New York, John Wiley & Sons, 2002

* Keeley, Robert H., Cooper, Jeffrey M. and Bloomer, Gary D., Business Angels: A Guide to Private Investing, available from the Kauffman Foundation, Kansas City, 1998.

* May, John and O'Halloran, Elizabeth F., State of the Art: An Executive Briefing on Cutting-Edge Practices in American Angel Investing, Charlottesville, VA: Darden Business Publishing, University of Virginia, 2003.

* Moore, Karl and Coveney, Patrick, Business Angels: Securing Start Up Finance, New York: John Wiley & Sons, 1998

* Osnabrugge, Mark Van and Robinson, Robert J., Angel Investing: Matching Start-up Funds with Start-up Companies - The Guide for Entrepreneurs, Individual Investors, and Venture Capitalists, San Francisco: Jossey-Bass, 2000.

* Simmons, Cal and May, John, Every Business Needs an Angel: Getting the Money You Need to Make Your Company Grow, Washington DC: Crown Business, 2001.

* Williams, Kelly, Working with Angel Investors for Community Development, New York: Community Development Venture Capital Alliance, 2003.


To the entrepreneur with the next idea that will change the world & make you a billionaire:
1) Read Every Business Needs an Angel (or better yet all of the above referenced books).
2) Contact me & send me your compelling executive summary!

NOTE: By compelling I mean that your executive summary is going to have me calling you before I finish reading it. Good luck to you all! (...)

John May and Cal Simmons spell out the steps, but more importantly give insight into the relationships, that allow businesses to get their initial capitalization. If you have a business in need of capital or a business plan, you should read this book. In the examples, pay attention to the the sub-themes of who introduces new companies to the investor group and who endorses the concept.