Thoughts on Entrepreneurship
I have been doing angel investing for about five years and it dawns on me that the methodology that I have been using (the standard 'join an angel group, hear two presentations each month, discuss with others, then invest communally via an LLC) is not working. I have made seven investment four of which took advantage of Hawaii's tax credit law. Two firms have failed, one is failing, and the remainder appear to be nowhere close to or even interested in an exit. The average firm just keeps requesting more funding.
I am now looking at the possibility of funding "ideas". I am considering getting ideas from students and others, then having a proven entrepreneur instantiate the idea. The benefit would be the need for less investment to build a portfolio and greater control over the exit.
I am now looking at the possibility of funding "ideas". I am considering getting ideas from students and others, then having a proven entrepreneur instantiate the idea. The benefit would be the need for less investment to build a portfolio and greater control over the exit.