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Are you interested in becoming an entrepreneur? Brian Cohen, Chairman of New York Angels, in conversation with Doug Simon, D S Simon, shares how he and the Angels help their up-and-coming entrepreneurs with “smart money” and how tough love is much more effective than unlimited appeasing.
“The first thing you need to know as an entrepreneur is that it’s a contact relationship. You need to reach out to the angels. You need to find the ones that could embrace both you and your ideas. Somebody who’s going to be there with you, supporting and hugging you when you need to be hugged, and not just giving you money; but giving you smart, caring money.”
“Money is now becoming a lesser important value. The ability to make contacts or relationships happen in their respective marketplaces is much more important. That’s the biggest role for an angel, not just the money.”
“At a Columbia presentation I gave a couple of months ago, I asked 300 of the brightest students there ‘Are we being too nice to you?’ Silence in the room. Everybody came back and say ‘Yes, and we resent it. We want to know what you really think. Don’t be that nice to us.’”