4 minutes of wisdom from Bill Morrow (Angels Den founder)

This week I went to South Coast Connections at the Queens Hotel and spa, where the guest speaker was Bill Morrow, founder of Angels Den.

After hearing the story of how he came to set up Angels Den he set out the five questions start-ups have to answer to secure funding from Angels, perhaps interesting is to hear where most fail; I wanted to share it with you so here it is:

angels-den

Note: this recording was made off my phone so it’s not amazing… and yes, I did ask Bill if it was ok to post it online! (especially to share with the Startup-Meetup group on LinkedIn)

  1. What do you do?
  2. What is the pain in the marketplace that you solve?
  3. How do you solve that pain?
  4. How do you differentiate yourself from your competitors in the market place?
  5. How much money do you need? (& does the money you ask for show a relation to the valuation I put on your company?)

I especially liked his openness about failure, one for a future Failure Swapshop perhaps?

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Announcing the Shape Your Idea seminar

Hello, I’m Neil Moodley. Luke has kindly allowed me a guest spot on his excellent blog to tell you about a new project I have recently launched.

I have been working on a new seminar for people who want to take the first tentative steps to being their own boss and run their own small or micro business, but are worried about the risks and uncertainty involved.

I’ve certainly faced these worries myself and have found, through experience, discussion and education in the MBA programme, that there are concrete, actionable steps you can take to reduce those risks and clarify much of that uncertainty.

That’s why I have created a 2-hour seminar, aimed at giving people the confidence to take that first step. And where does that journey begin? With the idea, of course!

This low-cost, high-value seminar, Shape Your Idea: How to Find a Business Idea and Tell if it’s a Good One, will give attendees the tools and knowledge to be able to find ideas, assess and refine those ideas, value those ideas and start planning the execution of those ideas.

So if you find yourself in those uncertain shoes, you can find out more here, or register a place now. You never know, it might change your life!

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a startup contest?

Last weeks startup meetup was very interesting,we discussed the idea of having some form of startup contest – see Mark Ng’s write up on the contest idea here

In a rough summary:

Incubator idea – full time commitment / funded / fixed end date to contest (3 months?) / launch day where ideas/teams are founded

part time contest – part time teams / sponsored / fixed end date / launch day where teams can find missing members

or some combo of the two, perhaps a launch day where teams could pitch to be in the incubator and then a free for all for any other p/t teams who wanted to compete for the main prize… whatever that was.

Personally, I’m split on the idea… I totally see the commitment side that Mark argues for.. I also think a p/t contest has merits.

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