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In this IVCJ article, Amir Goldstein, managing partner of angel group AfterDox, describes how ’smart’ angel investors can help entrepreneurs get their start-up off the ground and ease the way to attracting later venture capital financing.
One of the most difficult tasks in today’s business world is being an entrepreneur. The entrepreneur must have numerous competencies without which he would not be able to succeed. First and most important, the entrepreneur must be a visionary, as vision is the foundation of entrepreneurship, and the notion that dreams do come true must reside in his or her heart. However, having a vision is not enough. The visionary entrepreneur must truly believe in the idea, have the courage to plan a way to carry out the dreams and persuade others of the idea’s merit.
Being visionary, courageous and persuasive is not enough either. The entrepreneur must have a whole range of other skills, such as technical, managerial, marketing, sales, financial and operational expertise as well.
The Internet, having penetrated every area in our lives, presents more difficulties to the entrepreneur. There are 2 basic differences between the Internet and ‘traditional’ industries. First, entrepreneurs must deal with new terminology, such as viral marketing, clicks, communities, virtual communities, virtual world(s), affiliated junctions, search engines and now even peer-topeer and Web 2. This is followed by new business models based not only on revenues, profits and multipliers, but also on clicks, referrals, actual referrals, communities, members and virtual and real members.
Internet entrepreneurs must have special qualifications, such as an understanding of the Internet world, the behavior of users and use of the Internet.
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What a great article! I agree with your point that entrepreneurship can be one of the most difficult jobs ever - yet one of the most rewarding.
Thanks, and keep up the good work!
Jeff