For Entrepreneurs — Questions We Ask in Due Diligence and Why!
By Eric Dobson
Over the now almost 12 year storied history of Angel Capital Group, now a part of the Sheltowee Business Network, we have found key information is indicative of a team ready to use our capital to buy revenue, make use of our network and expertise, and to become business partners. These are key characteristics we look for because we have learned these lessons the hard way.
Our Phase II application, found at https://theangelcapitalgroup.com/application/ is designed to get to key questions and to *test* the entrepreneur. Entrepreneurs who embrace the system generally do well. They are prepared with the right information (e.g. they have done their homework and understand how this works). They are more than likely coachable. Our business model is to coordinate and facilitate investing in ventures from Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, Minnesota, New York, North Carolina, Ohio, Pennsylvania, Tennessee, and West Virginia (states in which we currently have affiliated angel funds). Current applications must be from counties in the Appalachia region. Those in KY are: Adair, Bath, Bell, Boyd, Breathitt, Carter, Casey, Clark, Clay, Clinton, Cumberland, Edmonson, Elliott, Estill, Fleming, Floyd, Garrard, Green, Greenup, Harlan, Hart, Jackson, Johnson, Knott, Knox, Laurel, Lawrence, Lee, Leslie, Letcher, Lewis, Lincoln, McCreary, Madison, Magoffin, Martin, Menifee, Metcalfe, Monroe, Montgomery, Morgan, Nicholas, Owsley, Perry, Pike, Powell, Pulaski, Robertson, Rockcastle, Rowan, Russell, Wayne, Whitley, and Wolfe. If not, we will not accept your application without a lead investor with a signed term sheet.
If you are applying through our application, you would be wise to read this fully, prepare your answers, and respond honestly. Hyperbole and “gaming the system” are easily detected in this process. That usually means the application goes in the digital, circular file.
The process we go through starts with your application for funding. The information is... continue reading