Hi everyone.
I felt like starting a new thread with this small bit of progress I've come across. Meeting with an investor is probably a question on many people's minds and I met with one this morning.
I have been on a bit of a journey with this business and having a partner leave then come back. During the course of this I put a profile on AngelList as a way to raise money. Well a year and a totally new company later, I get a message from an investor. Now I've neglected this site for the last 9 months or so and it's very inaccurate and out dated. I did manage to change a very small summary to give it a current idea of the product.
I met with the gentleman this morning and talked about a whole bunch of stuff. Valuation was a big one, as were sales, mergers, and acquisitions. He came from large scale medical device sales within imaging and his partner works for Dell. As we haven't been looking for funding actively we are not willing to give up equity unless we are talking about a large sum of money. The investor was fine with that. We discussed where we are in need and we thought with sales and getting in front of the correct person. He came from hospital IT and has been a consultant the last four years still within hospital IT. He seems to have contacts out the a$$ from this and is going to try and get us in front of a huge hospital org. Basically he is looking for a 10-20% commission on sales and the same with a mergers/acquisitions contract.
We have some in house legal things to work out then look at a contract with him. I'm going to be doing some back ground research on this guy and looking for references. Is this whole situation a normal occurrence? I've never met with an investor before and am a little overwhelmed til I get a night's sleep.
Thoughts on this? He's looking to deliver big and seems to be pretty aggressive with his movement. He's already spoken with a few high level execs about this and they seem to be excited for this solution.
Mike
I felt like starting a new thread with this small bit of progress I've come across. Meeting with an investor is probably a question on many people's minds and I met with one this morning.
I have been on a bit of a journey with this business and having a partner leave then come back. During the course of this I put a profile on AngelList as a way to raise money. Well a year and a totally new company later, I get a message from an investor. Now I've neglected this site for the last 9 months or so and it's very inaccurate and out dated. I did manage to change a very small summary to give it a current idea of the product.
I met with the gentleman this morning and talked about a whole bunch of stuff. Valuation was a big one, as were sales, mergers, and acquisitions. He came from large scale medical device sales within imaging and his partner works for Dell. As we haven't been looking for funding actively we are not willing to give up equity unless we are talking about a large sum of money. The investor was fine with that. We discussed where we are in need and we thought with sales and getting in front of the correct person. He came from hospital IT and has been a consultant the last four years still within hospital IT. He seems to have contacts out the a$$ from this and is going to try and get us in front of a huge hospital org. Basically he is looking for a 10-20% commission on sales and the same with a mergers/acquisitions contract.
We have some in house legal things to work out then look at a contract with him. I'm going to be doing some back ground research on this guy and looking for references. Is this whole situation a normal occurrence? I've never met with an investor before and am a little overwhelmed til I get a night's sleep.
Thoughts on this? He's looking to deliver big and seems to be pretty aggressive with his movement. He's already spoken with a few high level execs about this and they seem to be excited for this solution.
Mike
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