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New canaan advisors u. conn school of business (9 january 2014)


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New canaan advisors u. conn school of business (9 january 2014)

  1. 1. Getting Funding for Your Business U. Conn - School of Business (MGMT 5894) January 2014
  2. 2. School of Business Contents New Canaan Advisors Overview 4 What is the role of finance in your firm? 9 How do you get your idea funded? 11 What are important lessons I learned? 15
  3. 3. New Canaan Advisors Overview
  4. 4. WHO IS NEW CANAAN ADVISORS? New Canaan Advisors LLC (“NCA”) was founded in 2008 and is headquartered in Stamford, Connecticut. We are a leading Northeastern U. S. business/real estate advisory firm that provides public and private organizations with a unique resource for transforming underutilized assets and facilities into new strategic opportunities. In short, we bring “real value to your real estate holdings”. We help meet your evolving needs as a “trusted advisor” to help manage your real estate development, planning and implementation process. ”We help you bring the ideas of your dreams into the light of day” NEW CANAAN ADVISORS LLC NCA OVERVIEW
  5. 5. WHO IS NEW CANAAN ADVISORS? Curtis C. Battles is the Chief Advisor/CEO of the enterprise. Curt has over 25 years of strategy development, asset management, project planning and operational expertise in the hospitality, beverage and commercial real estate industries. Prior to starting New Canaan Advisors his most recent experience has been helping lead the Grand Central Terminal and World Trade Center Redevelopment projects in New York City. Curt specializes in helping public/private partnerships reinvigorate properties and transform undervalued assets into vibrant commercial projects that breathe new life into urban locations. NEW CANAAN ADVISORS LLC NCA OVERVIEW
  6. 6. WHAT IS OUR UNIQUE DIFFERENCE? NCA has developed a proprietary approach that assists its clients in moving a project from initial concept to portfolio oversight. SEED SPROUT SAPLING TREE Seed Stage – Establish Strategic Vision Sprout Stage – Determine Main Options Sapling Stage – Oversee Project Implementation Tree Stage – Manage Long-Term Returns NEW CANAAN ADVISORS LLC NCA OVERVIEW
  7. 7. What is the role of finance in your firm?
  8. 8. WHY DO WE REALLY CARE ABOUT FINANCE? The capital raised through debt and equity investors will impact all facets of your growing enterprise. • Product Development & Testing • Operations • Marketing & Sales • Organizational Structure • Flexibility • Strategic Direction • Long Term Valuation NEW CANAAN ADVISORS LLC WHY DO WE CARE
  9. 9. How do get your idea funded?
  10. 10. WHAT TYPE OF INVESTOR WILL YOU ATTRACT? nature and uniqueness of your business The innovative concept can draw a broad range of potential funders • Friends and Family (“Bootstrapping”) • Angel Investors (“Initial Converts”) • Private Equity/Venture Capital (“Money at a Cost”) • Government and Foundation Grants (“Non-Dilutive Funding”) • Economic Development Agencies (“Slow and Steady”) NEW CANAAN ADVISORS LLC FUNDING STRATEGY
  11. 11. WHAT DO INVESTORS LOOK FOR IN A FIRM? typically fall into one of the following three Funders categories when deciding on new entrepreneurial ventures • Unique Idea – The product or service under consideration fills a special need in a rapidly growing market segment of particular interest to the Investor • Seasoned Team – The proposed management team has demonstrated success growing an enterprise from start-up through its cash out phase (e.g. going public or strategic sale) • Special Assets – The firm holds a portfolio of soft assets (e.g. intellectual property/patents) or hardware (e.g. manufacturing facilities or distribution network) that cab be liquidated if the business ultimately fails NEW CANAAN ADVISORS LLC FUNDING STRATEGY
  12. 12. HOW DO YOU PITCH YOUR IDEA? Potential funding partners will range from those who can commit after an informal discussion to a long formal approval process • Be Confident – Remember that you are the subject matter expert on your concept! You must radiate high energy and not get distracted from the key message points of your unique proposal. • Anticipate Questions – Expect that there will be objections to some portion of your presentation. Trust in your fellow team members to answer technical inquiries outside your expertise as it demonstrates depth to Investors. • Think Outside the Box – Consider innovative alternatives to traditional funding sources when your encounter rejection (that is sure to occur). For instance, partnering with a firm that has complimentary technology could help get over the hump. NEW CANAAN ADVISORS LLC FUNDING STRATEGY
  13. 13. What are important lessons I learned?
  14. 14. WHAT ARE LESSONS I HAVE LEARNED? Three key things I found to be true that hopefully save you some “growing pains” are as follows: • First, you are the primary product being evaluated by any potential investor. It can take numerous interactions to build the rapport and trust needed to yield a cash influx. • Second, you will be raising funds on an on-going basis as a rapidly growing enterprise always needs additional resources. • Finally, it is much easier to deal with a smaller pool of diversified capital sources. The more funders that you must “schmooze” the less time to accomplish critical tasks to advance the business. NEW CANAAN ADVISORS LLC LESSONS LEARNED