立即打开
8类天使投资人惹不起

8类天使投资人惹不起

Marty Zwilling 2012年04月28日
融资固然重要,但在创业路上还需谨慎对待投资人

    很多创业者认为,融资不问出处。只要有人认可他们价值百万美元的创业点子,给他们投资,投资人是谁真的不是问题。大多数天使投资人目的单纯,但也有一些例外,需要创业者格外留意。

1. 鲨鱼天使。 这类天使是彻头彻尾的坏蛋,他们参与早期投资的唯一目的只是为了利用创业者相对缺乏财务和达成交易的经验占便宜。如果协商投资意向书的过程变成一种折磨,也许就意味着好聚好散的时候到了。

2. 好打官司天使。好打官司的投资人会寻找几乎一切借口把你告上法庭。这类投资者从不真正关注投资对象的公司能够实现的回报,而是试图通过威胁、恐吓和诉讼来赚钱。他们知道你没有与资源跟他们斗,所以,他们吃定你会“低头”。切记确保律师随时不离左右。

3. 傲慢天使。很多成功的商人相信,他们的伟大命中注定,因为他们比别人都高人一等,这其中有一部分人成为了天使。这些人通常专横傲慢、不受欢迎,他们对你做的任何决定都吹毛求疵。不要慑于他们的淫威做出不明智的决定。

4. 控制狂天使。此类天使一开始看起来就像你新交的铁哥们。一旦你获得注资,他会等你犯第一个错误,然后指着合约中设计好的“陷阱”条款,获得更多控制权,并逐步升级,甚至开始插手公司的经营事务。到时,只有公司董事会救得了你。

5. 说教式天使。说教式投资人不寻求掌控,但在任何事情上都不愿放手。这种手把手、事无巨细的说教起初可能感觉还不错。但在他们投资之后,仍想全天候24小时给予帮助的愿望再怎么往好了说也招人烦。一开始你出于获得投资的感恩,可能还能容忍,但最终这些好意会压垮你。保持距离是最佳做法。

6. 过时天使。每次经济波动期都会出现这种天使。他们通常好高骛远,但又面临流动性问题。他们天天泡在乡村俱乐部里,挂账消费清单越来越长。他们会和你见面,提出上千个问题,但从来不提什么时候成交。要学会问终结性问题。

7. 愚蠢天使。财富绝不等于商业智慧。看看他们问了哪些问题,没问那些问题,就可以分辨出那些愚蠢的天使。如果他们只是问一些表面问题,或者根本不了解你的业务,那就不太可能建立起成功的长期合作关系。但别忘了,有钱人身边往往都有一些精明的朋友。

8.披着天使外衣的经纪人。这样的人无处不在,他们通常以律师或财务人员身份出现。他们对于投资你的公司丝毫没有兴趣,最终只会试图让你签订一个付费合同,把你介绍给真正的投资人。经纪人通常也值那些服务费,但不要把他们与天使投资人混为一谈。

 

    Many entrepreneurs believe all money is created equal. As long as somebody recognizes their million dollar idea and writes them a check, the source really doesn't matter. Most angel investors are pure, but there are some exceptions to watch out for:

1. Shark angels. This is the ultimate bad guy whose sole intention of getting involved in early-stage investing is to take advantage of what they believe is the entrepreneur's lack of financial and deal-making experience. If the term sheet process turns to pure torture, it may be time to respectfully bow out.

2. Litigious angels. The litigious investor will look for almost any excuse to take you to court. This type of investor never really focuses on the returns your company can deliver, but instead tries to make money by intimidation, threats and lawsuits. They know you won't have the resources to fight them, so they count on you "caving." Keep your attorney close by your side.

3. Superior angels. A number of successful business people, some of whom become angels, develop the belief that they are destined for greatness because of their clear superiority over everyone else. These are usually overbearing, negative people who are hypercritical of every decision you make. Don't be intimidated into bad decisions.

4. Control freak angels. This angel starts out looking like your new best friend. Once you are funded, he waits until you hit your first pothole and then points out "gotcha" clauses in your agreement that give him more control. This escalates into a requirement that he must step in to run your company himself. Only your Board can save you here.

5. Tutorial angels. The tutorial investor is not after control, but wants to hold your hand on every issue. The mentoring offer always sounds good up front. But after they write the check, it soon becomes apparent that their desire to be helpful 24 hours a day is a nuisance at best. Initially, your gratitude for their investment may prompt tolerance, but eventually the burden wears you down. Keeping your distance is the best solution.

6. Has-been angels. These tend to appear with every perturbation in the economy. They are usually high-flyers with a liquidity problem. They are still at the country club every day, but are now running up a tab. They will meet with you, and ask a thousand questions, but never get around to closing the deal. Learn to ask the closing questions.

7. Dumb angels. Wealth is not synonymous with business savvy. You can spot dumb angels by the questions they ask (or don't ask). If they ask superficial questions or don't understand business, a successful long-term relationship is not likely. But don't forget that people with wealth usually may have some savvy friends to meet.

8. Brokers posing as angels. These people are all over the place, often posing as lawyers and accountants. They have little intent to invest in your company, and will eventually solicit you to sign a fee agreement to pay them to introduce you to actual investors. Brokers are often worth the fee, but don't be misled about who is the angel.

  • 热读文章
  • 热门视频
活动
扫码打开财富Plus App