By guest authors Irina Patterson and Candice Arnold Andy: What we look for are companies that have figured out – no matter what their size is – how to make money in one way or another. They basically have what we call a revenue engine, and what’s lacking is they need capital to rev that
By guest authors Irina Patterson and Candice Arnold This is the forty-eighth interview in our series on financing for entrepreneurs. I am talking to Andy Sack, who is a co-founder of RevenueLoan, which gives entrepreneurs unrestricted capital for growth in return for a small percentage of future years’ revenues. In operation since mid-2010, the size
By guest authors Irina Patterson and Candice Arnold Irina: What other opportunities do you offer for university students? Brian: I wanted to have more collaboration with students, bright students, MBA students – preferably in these cases. So, I created the Future Angels. Now, every meeting, every month, we have the top schools in New York
By guest authors Irina Patterson and Candice Arnold Irina: What can angel groups do better? Brian: I think there are a variety of things that angel groups can do better. They could – I would say, most important – make it clear to the entrepreneur what their ability is to actually fund him or her.
By guest authors Irina Patterson and Candice Arnold Irina: How do you feel about entrepreneurs who drop out of school to build their companies? Brian: I think, for the most part, entrepreneurs have to be educated. There’s no turning away from the fact that a good education represents curiosity and a desire for personal advancement.
By guest authors Irina Patterson and Candice Arnold Brian: They say in the angel business, the real problem companies are the ones that keep existing. They don’t go up; they don’t go down. They just stay in place. That’s why it’s so important to look for companies that do have the opportunity for scalability. But
By guest authors Irina Patterson and Candice Arnold Irina: In the past 12 months, how many new investments has New York Angels made? Brian: I’m going to say probably eight, which I hear is pretty good during a recession, and maybe five or six add-on investments. Irina: Can entrepreneurs who are not based in New
By guest authors Irina Patterson and Candice Arnold Irina: So, you run the educational workshops for entrepreneurs as part of your work for New York Angels? Brian: Yes. We started a New York Angels meet-up group in New York City, and we’ll have ongoing educational workshops. Irina: How often? Brian: New York City is a