Jan 20, 2022 #givethanks100
Today I'm giving thanks for Bill McGuigan.
I got introduced to Bill by applying to and presenting at an angel group that I ultimately didn’t take funding from.
That angel group asked for the following to apply to present:
1) Executive summary *
2) Business plan *
3) PPM, if this has been created
4) An example, 15-minute presentation *
5) Contact information for management *
6) Capital requirements
7) Term sheet if there is one
8) Anything else the Company thinks we need to know
* Minimum requirements
The size of the files provided needs to be less than 3 mb with all files totaling 10 Mb or less.
I didn’t have most of that. I had a presentation and I quickly put together a 3 page executive summary and submitted those two things.
Bill was on the screening committee and in spite of some missing expected information, he saw some things that sparked his interest and selected me to come present. From what I remember, I really thought I nailed that presentation and the following Q & A, especially compared to the prior angel presentations I had given.
I was therefore disappointed when the angel group came back and offered to invest, but at less than half of the valuation of already committed money. Bill made that call on behalf of the angel group, but he was half apologetic- delivering the group’s message and knowing I wouldn’t take the offer. I quickly and politely declined.
Bill later offered his services to help me raise money and I politely declined that as well. However, he and I kept in touch over the next six months and as we continued to progress, he committed outside of that angel group on our standard terms.
He participated in many follow on rounds and was a big supporter every step of the way. And I know he wouldn’t have it any other way than for me to share all these details because he takes it as a point of pride that he invested when the group didn’t.
Bill- thank you for your continued support over the years!
Originally posted on LinkedIn – head over to give it a like or a share.
I’m giving thanks for 100+ days to individuals that positively impacted me or HomeSpotter’s trajectory.