Becoming a business angel?

[PayVector]

Between my personal high interest account, business account, low risk saving accounts and treasury accounts. Why?

I think she was getting at if it is hidden under floor boards then next question would be "Where do you live"

 

[BusinessIdeas]

It is no surprise to me to see people "jumped on" by some members of this forum (always seems to be the same ones who do the jumping) I think they are all very sad individuals and should read "I'm ok your ok" It might let them know where to start with sorting out their own problems.

 

[BusinessIdeas]

Amaze, I'll take your offer up! (Who wouldn't?)

I wouldnt. I like to control my own businesses and build them up without investors, wouldnt have a partner of any description - tried it a few times and didnt like it.

 

[Alice3537]

Well maybe thats why I'm in the position I am and your not...? I take all advice from as many sources as possible and then make an informed choice or decision. I don't see why I should change my habits now I am successful, I don't plan on changing anything except my spending habits! I come from very humble beginnings, infact i was brought up by just my wonderful Mum from the age of 11 and lived in a council flat and everything I have I have worked my socks off for (I have always had a strong biz focus however).

Maybe my OP was rushed and not very well written, however I would respect any "real life experiences" from non-professional people. Whats the problem with that? I felt your reply was very assumptious, insulting and also made me out to be a lier which really got my "back up" as I am certainly not! Don't worry I wouldn't invest in anyone who was so judgemental and a bad one at that!

Thanks to Steve, Linking & Jamie for there positive words.

Not sure why I am doing this, but more to prove I am not lying, but here is a screenshot from a corporate account which is for both my businesses (obviously some details are removed):

<image now removed>

Thanks

Good Evening, amaze.

I have read your response quoted above and a few of the other posts on the thread. I have also re-read my own posts.

I do believe your first post was slightly ill-thought out and that may be part of why I replied as I did. However, I am not posting now to criticise you and I apologise for the tone I adopted in some of my comments toward you. I am sorry for that as I believe I did not drive the debate in, but hindered it.

I was, to be honest, a little surprised at the tone of the post and the way in which your question was made, so, initially, just wanted to question that.

I still wonder at how you do not have paid advisors, but also recognise that forums may be a valuable resource to individuals, so apologise for making assumptions about where to ask for information (my opinion still stands that any advice I receive from an individual on a forum, from a networking event, through a news article, whatever needs a little in the way of a second opinion!).

Anyway - trying to make amends here!! Best of luck with your AI and hope all goes well!


*Crewgirl - you know exactly why I do not agree with the business you are in or the way in which you try to defend it. To post what you did proved how 'sad' you are

 

[BusinessIdeas]

I do believe your first post was slightly ill-thought out and that may be part of why I replied as I did. However, I am not posting now to criticise you and I apologise for the tone I adopted in some of my comments toward you. I am sorry for that as I believe I did not drive the debate in, but hindered it.

I was, to be honest, a little surprised at the tone of the post and the way in which your question was made, so, initially, just wanted to question that.

*Crewgirl - you know exactly why I do not agree with the business you are in or the way in which you try to defend it. To post what you did proved how 'sad' you are

*Get real Alice you virtually called the guy a liar. Now you realize that he is probably for real, you think you may have peed on your chips.

Anyway back to topic.
Personally I am an avid watcher of Dragons Den and really admire the way those people are so incisive in the way they value the merits of a proposition in front of them. The op could do worse than to watch some re-runs of that show to get some inspiration.

 

[Alice3537]

*Get real Alice you virtually called the guy a liar. Now you realize that he is probably for real, you think you may have peed on your chips.

Anyway back to topic.
Personally I am an avid watcher of Dragons Den and really admire the way those people are so incisive in the way they value the merits of a proposition in front of them. The op could do worse than to watch some re-runs of that show to get some inspiration.

Not at all, Crewgirl - and if I had any respect for your business or the way in which you promote/defend it, I might actually expand upon that.

At the end of the day, you are p'd off at my last comment - so, if you wish to address that, feel free - any other comments I made are more between the PERSON I ADDRESSED THEM TO an myself.

I have stated that I think I may have been rash IN SOME RESPECTS in the way I posted and am happy and able to state that - I have nothing to apologise for and am more than able to say I may need, from time to time, to alter my opinion or the way in which I phrase comments.

I haven't 'peed on anything' quaint term, by the way) - I'm not seeking investment and it concerned me that an individual with the net worth he says he has was asking for advice on a public forum rather than gaining the expertise of those who actually know.

The one thing I would NOT recomend the OP to do is watch Dragons Den - but that's merely my opinion.

 

[lesliedocherty]

Having just read this Alice3537 comes across as a total dick.

 

[Alice3537]

Having just read this Alice3537 comes across as a total dick.

Thank you so much for the feedback - always happy to receive it!

Can't comment upon you as I haven't bothered to read your other hundred and ten posts! Nice to meet you though!!!

 

[GreatSEO]

Amaze

If what you say is fact and it seems that way so far CONGRATULATIONS on your business success so far and long may it continue.

A few quick questions -

How did you get to where you are (i imagine hard work and persistance is key in the answer but what was your making point so to speak)

If there was one bit of advice that you could give to someone like myself what would it be? I have always found time management is key amongst others

How long have you been running your business and did you have any help in starting it?

These may be questions you dont want to answer which i will understand if that is the case but it would be nice to hear your answers.

Many thanks in advace and once again well done I aim to be in your shoes as soon as possible but I am sure there is a long way to go yet.

Best Regards

Dave

 

[ThomasHardy]

Ok, dont see why alice jumped on him. My dad owns a few succesful businesses and still gets advice of everyone who is willing give there 2 cents.

I am only 17 and have been well looked after off my family, we wont ever have money problems and my parents haven't had to work for 10 years now.

Amazed may be lying but why would he lie on a forum? Not as though he is trying to scam anyone he was simply asking for advice. I don't know why he would post an image of a bank statement. But I do agree he is right that you should get as many views as you can on a situtation, I always get views from professionals, friends and business people when launching something. It can't hurt to have more information.

I may have deviated from what this thread was about but no matter how succesful I am or anyone is there is no harm in advoce off a forum such as UKBF which I have found contains alot of great information.

 

[amaze]

Wow this thread has certainly stirred up some thoughts and emotions. Thanks for any kind words & supportive comments, its very much appreciated!

I am sorry for that as I believe I did not drive the debate in, but hindered it.

No worries, you've apologised thats fine with me now. There is no time in life for looking backwards...

MytchMac thanks for your comments. Its now nearly 12am and I have been working pretty much solid since around 8:30am so my eyes are heavy and brain is unresponsive, however I will respond after sleep...

Cheers

--

"No such thing as a mistake, its a lesson in life..."

 

[Gillie]

Wow Alice is a complete dick head, great to have her here *sarcasm*

Tom, she has apologised and has been around the forum for a while and has made some very good points in her time, so when you have put the time in and not lost it one night, or not made an arse of yourself, then come back and post such useful, helpful and well meaning posts!!

I would have thought that reading this thread would encourage people not to abuse others ... obviously not!

 

[ADW]

Good post Gillie.

Amaze - Back to your original question as the post has veered off direction a bit. I would seek proffesional advice as a starting point (if you have not already done so) to arm yourself with the legal information etc.

As far as a forum like this is concerned, I would think the best information that you can gather is what a potential business needing investment would require. How you would set up as an Angel is very specific and only one or two on here probably have experience of this which I would approach directly for advice.

My main advice would be to leave no stone unturned when checking out a potential candidate.

Good luck once again.

 

[Ashley_Price]

Hi Amaze

I have PM'd you.

 

[BusinessIdeas]

I sincerley hope that some of the comments and attitudes previously expressed, don't put successful people off posting in the forum. Congrats to Amaze for a measured response. I think its wonderful that high net worth individuals would feel comfortable enough to share their expertise and ideas in the forum, we can all learn a lot, I'm sure, from people of this obviously high calibre.

 

[tshirt]

Hi All

I've just joined this forum and what a thread to follow in the first instance!! Obviously it wasn't a coincidence as I am looking for "start up" investment in the next www sensation....

The general response to the intial topic was varied and I am sure useful to the OP, frankly, I believe the OP went farther than they needed to when explaining themselves but when an un-provoked attach happens, especially on a personal level, we will all defend ourselves.

However, overall this thread has shown me, this forum is balanced and therefore useful....

I'll be posting snippets of the next www sensation later today... Watch this space

 

[amaze]

I sincerley hope that some of the comments and attitudes previously expressed, don't put successful people off posting in the forum. Congrats to Amaze for a measured response. I think its wonderful that high net worth individuals would feel comfortable enough to share their expertise and ideas in the forum, we can all learn a lot, I'm sure, from people of this obviously high calibre.

Thanks for your kind words...

Also thanks to everyone who has PM'ed me, very humbling!

Cheers

 

[Cornish Steve]

if an individual has a sum of money such as you refer to, they would NOT post on a forum such as this to ASK FOR ADVICE AS TO HOW TO BECOME AN ANGEL.

I'd just like to make a comment here. The assumption is that someone with money is free to spend it on expensive advice. Indeed, politicians often assume that the rich are swimming in money and can afford anything they throw at them. (Of course, they can define 'rich' to mean anything they like because the average reader just assumes Bill Gates.) The fact is that most rich people got that way because they are careful with money. They are savvy and know how to get the most value for the least cost. Hence, I'm not in the least bit surprised that someone potentially well off is asking for free advice; it's probably a lifelong habit by now and a laudable one.

 

[nicola jane]

Can't see why this guy has been jumped on, shouldn't we be congratulating the people among us who are successful? seems like theres a lot of envy or just general english attitude if someone has done better than us we should have a dig.
Cheers Jonny

I agree, as much as I love this forum and its debates.... I have cringed many times when reading some threads. Because of that I have hardly posted when I would have liked to had my say and I think it is a shame that a potentially (more) useful Business Forum can sometimes turn to petty mindedness due to the ill thought out comments from a few.

That said, I do know that, sometimes the written word does come across much more curt than was intended but there have been more than a few concerned members here of late.

Amaze – I hope you find the information you were looking for. Did you have any particular interest or venture in mind?

 

[BusinessIdeas]

Hi,


Any advice from any "angels" or anyone who knows how they operate? Cheers!

Hi again amaze I found this link for the British Business Angel Association. Some interesting reading to be found here:
http://www.bbaa.org.uk/portal/index.php?option=com_content&task=view&id=16&Itemid=32

 

[amaze]

Hi,

Again thanks for your comments and help.

Steve (above) is dead right! Yes I now drive a Bentley and I live in a nice house etc etc, but I come from a background where I understand the value of money and everything I have I have worked very hard for indeed so I won't waste cash (though I'm not "tight" with it either, just ensure I get ROI in some form on all payments!)

Amaze

How did you get to where you are (i imagine hard work and persistance is key in the answer but what was your making point so to speak)

Firstly sorry for the delay Dave, been stacked out!

The key was finding a niche and defining a strong USP. Then it all comes down to drive, focus and lots of hard work!! I left school at 16 with 1 GCSE, I don't learn academically, I learn from commercial experience and I think some people have natural business acumen or they don't simple as that. I knew from a very young age (so i am told) i always wanted to be "business man" and by 11-12 I was always going to be a millionaire by the age of 30 (I did it "on paper" by 27/28 I would say..), but until you have one million cash I don't think you can call yourself a true millionaire (not in my eyes anyway!)!!

Amaze

If there was one bit of advice that you could give to someone like myself what would it be? I have always found time management is key amongst others

Time management isn't my strongest skill, maybe this an area I need to improve on... I would say research is key, as well as finding a niche and then its totally being focused and driven even if other dont belive in your vision. My bank manager wouldn't give me a loan for £2,000 when I started...! Also enjoy competitors that start or are in biz. If they copy you take it as a compliement, just make sure you push on! I have had lots of competing companies start, all copied my model, this pushes me on and now were the leading company in our sector. Every time they copy one part of the biz or innovate, I do it 2x more...

Amaze
How long have you been running your business and did you have any help in starting it?

My main business is 4 years in April'ish... No help at all. I started it while in full time work, with £500, company has never £1 of debt (except the £500 for rent of the office I had) and always been profitable... I worked 5am to 12am for 6 months until I left my full time job...!

Amaze

Many thanks in advace and once again well done I aim to be in your shoes as soon as possible but I am sure there is a long way to go yet.

I hope you can too!!

Cheers, me

 

[amaze]

PS: I'm not saying my ways are the right way, as they are the way I have taught myself, but they work for me..

 

[qxteluk]

Hi Amaze,

A little late to the conversation... not sure how much you are getting off your treasury but the best treasury/money market should yield around 5.5% at the moment. The highiest rate is probably with Bank Of Scotland corporate for the sum you are talking about.

I have seen people advertising in the paper and get people who needs the money to approach them. (You can co accountant of course, to protect your identity/nuisance)

There are also various investor lunch e.g. all sort of events. Good accountants also put their client in touch with similar opportunities (such firm normally also do IPO to Plus and AIM market - so if you are accoutnant does not do that..maybe you have outgrowth your accountant's capabilities).

Hope this help..

Between my personal high interest account, business account, low risk saving accounts and treasury accounts. Why?

 

[amaze]

Hi Amaze,

A little late to the conversation... not sure how much you are getting off your treasury but the best treasury/money market should yield around 5.5% at the moment. The highiest rate is probably with Bank Of Scotland corporate for the sum you are talking about.

Thanks for your advice. Yes I am getting that figure with RBS\Natwest corporate.

Thanks to all for the BA advice... I have now gathered lots of research and once I get more time will start looking into it more.

Thanks