Are you looking for money to start, grow, or expand your business? Are you completely stumped by how to manage your business’ accounting?
Well, this week we’ve got the experts to answer your questions. First up, angel investor Frank Hennessey
returns by popular demand to talk about how you can tap investors for
your business idea. Have your elevator pitch ready and call in!
Also on the show, accountant Felecia Dixson will be taking your questions about the “Nitty Gritty” of accounting.
Frank's advice: What does an angel investor look for?
a time when Venture Capital firms are investing less at a later stage
of company development, angel investors are being asked to invest more
at an earlier stage than ever before. As a result there are more deals
for angels to look at and the level of anxiety amongst angels is
increasing. In this environment, what are the characteristics that
would make an angel investor salivate to invest in your deal as opposed
the myriad of other opportunities that he sees?
Consider the following three things:
- In a proven market , you have a clearly superior product or service
- Based on reasonable assumptions, you reach profitability in six months not six years
- The CEO has done it before and has lots of skin the game.
the business model must make sense and the management team must be
impressive and passionately committed. Angels want to be a part of the
solution and part of the success. It is their money that makes your
dream possible. Make them an integral part of your team.
About Frank Hennessey
Frank’s Executive Roles
Frank serves as Chairman of the Board and Chief Executive Officer of
Hennessey Capital and Hennessey Capital Solutions, technology-based
specialty finance companies. Frank was formerly Chairman of the Board
of Directors and CEO of MascoTech, Inc, a $1.7 billion manufacturing
company. Previous work history includes: Chairman and CEO of Emco
Limited, a $1.4 billion Canadian distribution and manufacturing
company; Executive Vice President of Masco Corporation; and CEO of the
Handleman Company, a $700 million distribution company. His nine years
with Handleman were preceded by experience as Group Managing Partner of
Coopers and Lybrand’s Detroit Group offices.
Frank’s Investing Track Record
Frank is limited Partner in several VC funds and has been angel
investing since 2000. Frank has invested in numerous companies
including: Hennessey Capital Solutions; Hennessey Capital;
Kinderstreet; Smart Collector; Clarity Technologies; eFinNet;
StartupNation; and GuidePoint Systems.
About Felecia Dixson
has been a partner of Alfermann Gray & Co., CPAs in Rolla, Missouri
since 2002. Felecia is a degreed Accountant from Indiana University.
She has been assisting in the editing and writing of the Illinois Farm
Tax Manual for the University of Illinois since 1998.
has also been involved in the editing and writing of the Enrolled
Agents Exam Questions for the Internal Revenue Service in Washington,
DC, and is a past member of the Internal Revenue Service Advisory
Committee to the Commissioner of the IRS in Washington, DC.