Really now, where does an early stage go?

ddutton

Ok, pay for pitching, pay for valuations, pay for Angel Forums, pay for forum to get listed on the German Stock Exchange, pay, pay, pay and drown.
 
Now really, where does an early stage go for actual yes/no answers? Bootstrapping works for just so long before the boots fall off?
 
We built the company, the product, on the market, some sales, valuation of $7.2 million after funding, yet no investors month after month of effort -
 
I tell you when we make this company the success it will be I will not turn my back on entrepreneurs!

robertj

ddutton,
I can certainly relate to your frustration.
I`m curious - did you get listed on the German Exchange?
 

ddutton

Hi Robertj,
 
No, we have an opportunity to pitch at a forum that has only 15 participating companies and the forum has a 54% c onversion rate of companies presenting.  They are presented to a panel of 9 investor types who will decide who will be established on the German Stock Exchange - so, $1,000 fee (which isn`t bad) and maybe you will be one of the companies selected and then a 3 month process to get on the exchange and be a publicly traded company in Germany.
 
I haven`t said yes yet, they have 4 slots left for the September Forum- I am so confused at this point and have been bounced around by so many potential investors and brokers over the last almost 2 years now, I can`t tell you -
 
I just know that I believe in our company and our products and our future - somehow we will find a way to succeed with the funding or without -

ddutton

Thanks Mark,
 
Great advice and I think I have met all the "Don`ts" that you mentioned in the last two years. When you bootstrap a compnay you don`t have the luxury of forums and Angel Tech group meetings where 30 pitch and they talk to one - Oh, and the PPM, tried that last year - passive investor presentations of the PPM or pay $10K to a firm to prepare and market you - so if you don`t have money, you can`t get money that is the way it feels out there -
 
I know we are not VC candidates, Just angel - but they are not "Angels" as they say - certainly can do their best to dishearten an entrepreneur!
 
So, beware of all that approaches you - some want fees as SOP, and no promises either -
 
I will continue to keep and eye on www.fastventures.com for ideas.
 
Diane

ddutton

Hi Paula,


Certainly Michael and I have said the same thing - we are really going to make the future better for some entrepreneur who has heart, a good product with a market niche that no -one else is filling.
 
We have found every possible scam on the market - many people are ready to sell you business valuations, business plan preparation, PPM services and so much more - and those that have a forum???
 
Well you can be one of the 30 who pitch so they can pick 3 to go to the next round and so much more - well talk about a needle in a haystack.
 
You can`t blame them - you want them to take the risk - some want "skin in the game" so what $300 to $400,000 isn`t skin in the game?  Oh and then you have those that will give you something for 50+% of your company and because you need the cash you may take a deal that is less than the best for your long term success.
 
MY BEST ADVICE - sell an idea - don`t waste time brining it to reality - too much of your own money and then you wait too long to look for money.  Money takes years to find unless you know the right people
 
So, yes hang in there - if you believe in yourself you might survive!