Mark Schneider was the founder of Core Software Solutions Inc. Over a number of years the company grew via acquisitions and mergers into Opus-ISM LLC and Opus Health LLC, a pair of companies that built systems for prescription processing. Mark was CEO and Chairman before exiting both companies via sales to a private and a public company respectively. He then became an active angel investor. Mark currently serves as a Director on a number of boards including New York Angels and Angel Investor Forum.
Alignment of interests is probably the most important thing for a successful relationship between an entrepreneur and investor.
You can't satisfy everybody all together. You need to heavily prioritize both in terms of technology and as well as the sales and use one to feed the other.
We need somebody that can take the company from where it is now to a point where it has significant, stable operations.
It could mean going back to an investor and asking, 'what is it about the deal you don't like?"
The time to celebrate is not when you close on the investment, the time to celebrate is when you exit.
No matter what the paperwork says, ultimately: treat your friends right. They are going to be your best allies and help you attract investors.
For me, it was a constant set of brick walls and every day presented a new challenge on how to get through or around.
Figure out how much money you need, add some cushion, and at least double it... Make sure you have enough to get to some inflection point that you truly have increased the value of your business.
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