26 of 28 people found the following review helpful:
1.0 out of 5 stars
So you need investors and need to write a business plan..., October 14, 2008
This review is from: Finding an Angel Investor in a Day: Get It Done Right, Get It Done Fast (Paperback)
I did, so I bought five books. I will review them from worst to best.
"Finding an Angel Investor In a Day," by The Planning Shop (2007), told me nothing I didn't know, and I didn't know anything about business plans or angel investors. The title is ludicrous and the advice is obvious, e.g., "Your business plan should be concise, compelling, and irresistible to investors." 1 star.
"The ABC's of Writing Winning Business Plans," by Garrett Sutton (2005), walks you through writing business plans for a lawn mowing business and buying a pizza restaurant. If your business is more complicated, this is not the book for you. 1 star.
"The Ernst & Young Business Plan Guide," by Brian Ford, Jay Boorstein, and Patrick Pruitt (2007), is a good book but hardly inspiring or insightful. If you follow this book your business plan will be competent but won't grab investors. 3 stars.
"Angel Financing for Entrepreneurs," by Susan Preston (2007). This book doesn't explain how to write a business plan, but it explains how to make a 10-minute PowerPoint presentation to investors -- a presentation that will grab investors. For example, one question is "How is your product or technology scalable?" I also learned some of the financials that angel investors look for, such as what IRR is expected. This book helped and inspired me to write an excellent presentation, that became the basis for my business plan. 5 stars.
"Raising Venture Capital for the Serious Entrepreneur," by Dermot Berkery (2008). This is a textbook for a business school course about venture capital. This book is full of insights. Every few pages new ideas would compel me to go to my computer and add stuff or rewrite my business plan, for example, Berkery emphasizes the need for clear milestones. Preston mentioned milestones but didn't make it clear why they are so important. The financials that were briefly presented in Preston's book are thoroughly presented in Berkery's book, for example, what gross margin investors look for (80% or more) and why they need such extremely profitable products or services. Plus you learn the jargon or key phrases of venture capitalists, e.g., "a large but well signaled market," the importance of "market power" and an effective "route to customers." I feel that my business plan now speaks to investors in their language, with the numbers they are looking for. 5 stars.
Help other customers find the most helpful reviews
Was this review helpful to you? Yes
No
13 of 14 people found the following review helpful:
5.0 out of 5 stars
Do you need to find a partner, co-owner, or an angel investor for your startup, then read this book to go about finding one., September 14, 2007
This review is from: Finding an Angel Investor in a Day: Get It Done Right, Get It Done Fast (Paperback)
At first glance when I pulled this book off the bookstore shelf a few days ago I figured it was going to be a 4-star book. The text is kind of thin at 150 pages, and the individual pages have a lot of white in the top and bottom margins. But when I read the book this afternoon I really liked the topic that was covered and the content that was included. I highly recommend this book to any wanta-be entrepreneur or small business owner that is in need of capital for her business that a new partner, new co-owner, or angel investor could provide. Two thumbs up!
I read this book a little out of order since I am somewhat familiar with its topic. I started with the Glossary at the end of the book. Knowing the definitions of the terms included in the Glossary will definitely help the reader better comprehend the front part of the book. I then read the section entitled "The Experts Talk" and enjoyed those short dialogs. And then I skimmed the Sample Term Sheet included.
Lastly I read through chapters 1-9 which make up the body of the book. My favorite chapter was Chapter 5 entitled Valuation. Putting a value on a startup is tough to do in practice, but I think the author did a great job covering the subject. I think it could have been done better, but it was definitely done well.
I'm a SCORE volunteer counselor and I read books like the instant one in order to determine if I should recommend it to my SCORE clients for reading. Many of my SCORE clients have had questions about angel investors and venture capital firms as sources of raising funds for their startups. And I tell many of my SCORE clients that if they really need capital and they don't want to sell out in 2-5 years, then they should think in terms of getting a partner who can infuse capital into the business. Up until reading the instant book I have not had a book to recommend to these clients. I've had to explain it verbally during our face-to-face counseling sessions. This book includes what I tell those clients AND THEN SOME. 5 stars!
Help other customers find the most helpful reviews
Was this review helpful to you? Yes
No
2 of 2 people found the following review helpful:
4.0 out of 5 stars
Good Book on Angel Investor + Venture Capital Basics, April 11, 2008
This review is from: Finding an Angel Investor in a Day: Get It Done Right, Get It Done Fast (Paperback)
This is a good book if you want to learn the basics on what angel investing really means, how to find an angel investor(s), and the steps you may need to take for additional venture capital down the road.
Help other customers find the most helpful reviews
Was this review helpful to you? Yes
No
