By guest author Irina Patterson Look around your incubator. Can you identify 10 promising entrepreneurs? Could you use 1M/1M to accelerate them? They will start with the 1M/1M curriculum. Get help with their positioning. They will be guided through customer validation and customer acquisition, get media exposure, and gain access to Silicon Valley decision makers.
By guest authors Irina Patterson and Candice Arnold Irina: Do you have any target returns on investments? Andy: Yes, we do have targets. We look at it from a portfolio approach, but generally speaking, we tell people that we’re looking for a 20% IRR.
By guest authors Irina Patterson and Candice Arnold Irina: What kind of businesses do you prefer? Andy: Think of revenue loan as growth capital for small to medium-sized businesses. The demand for that growth capital is really high. There aren’t many sources of growth capital other than traditional venture capital, sometimes angels. So, there’s a
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
As I have been facilitating the discussion on incubator business models and thinking through our experience so far with 1M/1M and the roundtables, one nugget that has come through for me is that 1M/1M needs a bank of sorts attached to it … some combination of a Grameen Bank (micro finance) and American Express Bank