Access to capital is the life blood of entrepreneurs. So say both entrepreneurs seeking funding and those who fund them. Both angel investors who invest their own money in startups and early stage companies, and venture capitalists who invest a pool of other people’s money understand the important role they have in a state’s startup ecosystem. Improving funding opportunities for entrepreneurs is one, if not the primary, driving principle behind the NJ Angel Forum’ breakfast meetings that are part of the Association for Corporate Growth- New Jersey (ACG-NJ).
Invite-only and held quarterly, the most recent on October 23rd at the Park Avenue Club in Florham Park, New Jersey, the breakfast gathered together angel investors with highly successful executives interested in becoming angel investors. The breakfasts are intended to grow the angel network in New Jersey, as well as to serve business executives who want to learn about investing.
Entrepreneur, angel investor, and ACG-NJ Director Joel Cartun notes, “We hope to educate individuals who may be thinking about an investment in a startup, often undertaken to support a family member or friend, before they jump in. It will help them avoid mistakes.”
By connecting angels with other angels, experience may be shared or particular expertise revealed. It may lead to investment opportunities that would not have occurred otherwise. However, angel investor Cartun emphasizes, “These are not deal flow gatherings. It is strictly about making connections and learning about investing.” The hopeful result is a stronger local investment base for entrepreneurs to tap into.
Entrepreneur, Angel investor and founder of the TechLaunch business accelerator Mario Casabona strongly supports the group’s efforts. “We have some great entrepreneurial talent here in New Jersey, and it is important that New Jersey angel investors invest herethey can make excellent deals close to home.”
The topic for this breakfast was “Creating Customer Relationships in a Start-up–The Key to Building Early Stage Value,” by guest speaker Richard Shapiro, the Founder and President of The Center For Client Retention (TCFCR). TCFCR consults with a range of companies to help them “create exceptional customer experiences and establish long-term customer relationships”. Many are mid-sized to Fortune 500’s like Procter & Gamble, Colgate, and Johnson and Johnson.
Customer retention, however, is also a big factor in startups, Shapiro explained. “Retaining customers adds value to a business and that is something investors look for when deciding to invest or increase their investment.” He covered key factors that every entrepreneur should know about customer retention: the importance of developing personal relationships, keeping employee turnover low, and setting and meeting response time expectations.
Said Mark Kuehn, the founding Chairman of ACG-NJ, “We know how important angel investment activity is to a state’s ecosystem. Our goal is to bring forward more people to become active angel investors by hosting these educational breakfasts. They will go on to join angel groups where they will be able to take advantage of the investment opportunities those groups offer and be more knowledgeable to do so.”
For further information on the ACG Angel Forum please contact:jcartun@verizon.net
