Team Project (E-Center) Angel Investor Group

Final Update, July 14, 2010

Task Completed: This past week has been very busy concerning our E-Center project. Our group was invited to Island Park by one of our group members, to practice our final presentation. Each of us was designated a portion of the powerpoint to present. We have been working on the powerpoint for a number of weeks now and we were still adding information and making changes the week of the presentation.

We presented to the EIAG (Eastern Idaho Angel Group) this Thursday. Overall, we felt that the Angel members were impressed with the presentation and were happy to hear our recommendations.

Progress Made:E-Center project completed!

What I learned: I have learned a great deal for this project. I had no idea what an Angel Group was, prior to this project. Angel Groups are a great way for local investors to find start-up companies who are looking for funding. This is very important in getting investors to spend money locally, build local economies, and help rising companies with good ideas to be successful. Angel investing is a "process" and understanding that process can be difficult. Angels have have their own language, own methods, and requirements. With the help of the E-Center, the EIAG can be fully functional and entrepreneurs can enjoy the added benefits that the EIAG offers. We made recommendations to members of the EIAG on how to create the Angel Group. 

Update for June 27 - July 4, 2010

This week we concentrated on our final presentation and a few "loose ends" that we needed to take care of. I was assigned to investigate the cost of building a simple webpage. While Bro. Lundin assured me that I could build a page myself in about 20 minutes, I found out that a simple web page could be produced for around $1000 - 1500. Although, Bro. Lunding suggested a student would probably do it for about $200.

Task Completed: Found out cost of building a simple web page and put together a list of things our final could improve on.

Progress Made: Completed "cost" of webpage assignement. Still working on final presentation.

I learned that webpages are not nearly as difficult to create as it seems. Bro. Lundin wanted to show me how easy it was. Also, I had no idea how much money it takes create a website but it's not much really for pages that don't have a lot of bells and whistles.

Update for June 20 - 26, 2010

Task Completed: Contacted Angelsoft and designated a meeting with E-center Intern as well as Corey Smith, head of Angel Group Investing. We are currently looking at Angelsoft.net software to see if it will meet the needs of the EIAG. Also finished assignment to see how angels can be involved in the deal flow and created more marketing objectives.

Progress Made: We are well ahead of schedule and will start preparing our final presentation soon.

What I learned: I learned that coordinating schedule between 3 individuals is very difficult! I am learning a great deal about angel groups, due diligence, and deal flow.

Update: June 14 - June 19

This week we visited with our client. Our client gave us some good information concerning our project and areas that need improvement. I was assigned on creating marketing objectives and also getting in touch with a group called angelsoft.net. Angelsoft has a software that organizes deal flow in an Angel Investing group.

Update: June 6 - June 13

This week I was assigned to create a "how-to pitch guide" for entrepreneurs seeking investment from Angel groups.

Task Completed: Created a detailed guide on how to give an effective presentation to Angel investors.

Progress you made: We are more than halfway through accomplishing all of the key factors of our assignment. We have made a lot of progress in consulting the Angel Investment Group.

I have learned that making a "pitch" to investor groups is very unique. Angel investors have their own "lingo" and creating a powerful presentation can be difficult to do.

Update: May 29 - June 5

Task Completed:

This week I created an outline that would be helpful to interns during the due diligence process. After an entrepreneur has passed the initial screening process, an intern (or someone from the Angel Group) will use the spreadsheet created to make sure the start-up company will actually do well. Due diligence is investing time and resources into understanding target markets, profitability, etc. Due diligence is required before a start-up can visit with any Angels.

The progress you made in accomplishing those tasks:

Finished the outline

The lessons that you learned from the tasks:

There is a lot of work required to get a good grasp for each company. Few start-up companies are successful and finding those few companies to present to Angel Investors can be difficult. The due diligence process eliminates company that do not stand a chance of success. It also gives insight on where start-up companies can focus their efforts and how to tweak their presentation to Angel investors.
May 22 - 28

Tasks Completed:

Created a basic template of the AIG website. Provided layout and content options for the Angel website. Also, started work on screening questions when dealing with investors seeking an Angel for funding.

The progress you made in accomplishing those tasks:


I am almost finished with the web page layout. I have the basic outline and a lot of the content already completed, but I still need to fine tune the page with the content. I finished the screening questions.
 
The lessons that you learned from the tasks:
 
The Angel Investor Group is a really cool group. The implementation of AIG will build Rexburg and eastern Idaho's economy. I studied a lot of Angel websites that exist across America. Every Angel organization has unique features that will help us build our Angel website. I am very impressed with our intern from the E-Center and we should have a strong presentation for our client at the end of the semester. I also learned some great screening questions from the tasks that I performed this week.