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April 26, 2007

Comments

Xavier de Lecaros-Aquise

;) Nicely written Paul. I would however add that by simply looking at the numerous instances in blogs, networking events and elsewhere, where even experienced entrepreneurs have starvingly sought for advice on Term Sheets, the VC psyche, company presentation, etc. I am confortably reassured in the need for advisors. Nevertheless, as you quite rightly point out the quality of the advisor is yet another matter.

While great advisors such as Go4Venture, with its European Technology focus and international fundraising network, hit the mark, entrepreneurs need to be aware of the numerous one man bands out there. Advisors are first and foremost educators and as such "quality of analysis" is the name, "rigorousness of thought" is the game.

Xavier de Lecaros-Aquise
Senior Analyst
Go4Venture.com

Ed French

Paul,
I like your comments, and although undoubtedly containing much that's true, I can't say that we've had the best experience with advisors (including those you would classify as being at the quality end of the market- although not firstcapital).
Twice we've used well reputed, well qualified and very experienced advisors to help raise follow-on rounds of £2-5m without success, whilst we've done this kind of round without advisors with success. OK that's only 4 data-points, but it still means that we think twice about taking the plunge to engage someone! Hopefully we'll have more luck on the next one!
Best wishes,
Ed

Paul Sweeney

I think this is an excellent and timely conversation to open up. One "figure" I have been longing to see, is what the overall industry stats are for Financial Advisors, i.e. Of the projects they taken on, how many get submitted to VC's, how many got to offer, and how many go to full acceptance.

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