DigitalThinkAssignment - take to the Band of Angels Bill...

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Stacy Devino DIGITAL THINK HOMEWORK Be prepared to discuss the following questions. Submit your written answer to the question assigned to you. 1. Students A-D: What should be the phases in his overall plan of action at this stage? Why? This question is extremely vague given the many different phases in this text. Are you referring to in the text where it says: The five things that the Lanes helped early-stage companies with were the following: 1. Developing a business plan . Many entrepreneurs came in with five or six pages of text. The Lanes helped them find out about their competition, the potential market size, the potential customers. 2. Building a management team . Sometimes both of the Lanes were very active in helping recruit people to the company. For example, they had helped find and recruit three of the top people in one of their Angel investment companies. 3. Raising money . The Lanes would suggest names of people that the entrepreneur could talk to in addition to themselves. If the company were far enough along to
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Unformatted text preview: take to the Band of Angels, Bill Lane would do that, in part because he felt that the Band had brought many opportunities to him. 4. Finding a law firm . If the company already had a lawyer, but who was not someone well known in the Valley, Bill Lane would get the company to change to one of the better-known Silicon Valley law firms. 5. Finding an audit firm . Again, even if the company already had an auditor, Bill Lane would recommend that the company switch to a Big Four auditor if it were not already working with one. He needs a clearer understanding of where the company is going and what their needs are in terms of personel. Yes, you need to know the different legal facets. However, you need to have the company in line and ready to begin before you can really hammer down things legally. There needs to be more business planning, understanding, and financing than legal terms. Once things are established, then delve more into that area....
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