ENT640 sourcing Blog (week 2- Winning angels the 7 fundamentals of early stage investing)
Updated: Aug 6, 2020
Am I willing to put myself out there? Am I willing to take the risk? Am I going to be ok if I lose?
These chapters force you to face yourself in the mirror and answer all of the important questions about getting started in your company or companies, if you haven’t already. As for myself, I do not have my own company but I obviously want one. At first, the book seemed a little overwhelming. I could not grasp what sourcing actually meant. I didn’t even know there were such thing as angel entrepreneurs, with the title “Angel”. As I kept on reading, I continued to look up words that I am not comfortable with. Sometimes these words would pop up again, which helped me to become familiar with them in context. As I read through the first 10 chapters I began to memorize some of the vocabulary and recognize the acronyms that are used among business people, like B2B, which means business-to-business.
Some topics and ideas that stuck out to me were, it is not about what you know, but who you know. Since I am just starting out, I learned that someone who is more experienced than me, should be the leader and I should follow until I become experienced. I also learned I need to make sure to include my family in my decisions. I need to figure out how much time I will devote to my investments outside of my home.
Something else that really caught my attention was that you do NOT have to intend to be famous or make a ton of money off a book you have written. It is actually very important for your exposure. Additionally, it is a great learning experience. The hundreds or thousands of hours in preparation for writing and publishing a book will make you smarter, and that is so very important. I like the idea of becoming qualified to teaching an entrepreneurship class as suggested. I think it would help me grow, and I can share what to do and not to do and help others. This is especially a great way to meet other great entrepreneurs in my network.
I would like to learn more about the one-pager, and make one for myself. I am a little unsure as to where to begin. After taking these entrepreneurial courses so far, my mindset is beginning to change with what I want to really do with my life. Again, I do not know any active angel investors. I honestly again never heard of them until this course. I want to start the beginning steps of reaching out to some Angels in my community. Maybe I could interview one of them.
I never really thought much about it, but I could do more public speaking. It still kind of makes me uncomfortable. The only opportunity I can immediately think of is church.
It is important for me to begin to give speeches and publish articles. Sometimes you try so hard to put yourself out there and only four people show up. The catch is that the random person shows up in that small audience and they are exactly who you needed. I think it is amazing that David Amis had only four people show up for his talk after all of his incredible marketing. It actually turned into a victory because his future co-author was one of the four in the audience, and they later wrote this book together (Amis 45). Don’t get discouraged. Choose your audience strategically.
Amis, David, and H. H. Stevenson. Winning Angels: The Seven Fundamentals of Early-stage Investing. London: Pearson Education, 2001.