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Is Your Godfather An Angel?

Written by: Guy Kingston

Article Overview: The traditional stereotype of the innovator is that of an eccentric, slightly unworldly Absent Minded Professor, so caught up in the beauty he finds in his work that he neglects everything else around him.

Is Your Godfather An Angel?

The traditional stereotype of the innovator is that of an eccentric, slightly unworldly Absent Minded Professor, so caught up in the beauty he finds in his work that he neglects everything else around him.

Although we are taught to be cautious about stereotypes, because there are always exceptions, the stereotype endures because there are still enough people who appear to fit it perfectly.
So while there are inventors who are also hard-headed businessmen – Edison being the most famous example – there are also many whose obsession with inventing itself closes their minds to the business applications of what they invent.

Such inventors may therefore be very successful in terms of designing something original but not successful in terms of reaping the rewards of their skill.

This is not only their loss. The failure to exploit a good idea commercially also means that those who would have bought it and benefitted from it are not able to do so. Many great inventions which would have aided humanity have rusted away as prototypes because the minds that built them were not geared to bringing them to market.

Others with brilliant ideas have had them stolen, because they were unable to master the formalities of patent law.

Many have signed away their rights to most of the profit from their inventions because they were badly advised, or because they lacked the knowledge or the confidence to exploit it themselves.
To make the most of their inventions, inventors must accept that they are in business. They might choose to sell out at a later stage, but they need first to establish the commercial viability of what they sell if they are to command a decent price.

That means they must develop not only a business idea but the business itself. However, starting and managing a business demands two things most inventors lack: business experience and money.
Of these, it is more important to get business experience on board first. Get the right sort of business experience, and the money usually follows.

For many inventors, that business experience takes the form of a “Godfather”, a businessmen who knows his way around. Such a “Godfather” should ideally have a specialist knowledge of the sector in which the inventor hopes to establish himself, and a track record of securing patents and bringing them to market.

A “Godfather” acts as a mentor or counsellor to the inventor. He might serve as a Non-Executive Director of the inventor’s company, and a minority shareholding should give him a stake in its success, but the inventor should beware of people offering to go into partnership with him. There are a lot of sharks out there who want to feast off someone else’s ideas but who bring nothing to the table themselves.

Only once the inventor is confident that he is being well advised should he seek outside investment.
Where “Godfathers” bring their advice and experience to the inventor’s company, equity investors, known as “Angels” bring their cash.

It may be that a “Godfather” is also an “Angel”. A “Godfather” should already have been successful and will probably have money of his own to invest. It might seem natural to show his confidence in a business he advises by investing in it.

Equally, “Angels” may also be successful businessmen, bringing with them ideas and contacts as well as their cash.

However, there may be a conflict of interest. An investor’s priority will always be protection of his investment, which is not necessarily the same as what is best for the business in the longer term. A “Godfather” who becomes an “Angel” may lose the objectivity that makes his advice so valuable.

In business as in theology, part of a Godfather’s duty is to teach about Angels.

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Article Tags: absent minded professor, brilliant ideas, business applications, business experience, business idea, businessmen, commercial viability, decent price, edison, exceptions, formalities, great inventions, innovator, inventors, managing a business, obsession, patent law, prototypes, stereotype, stereotypes



Related Forum Posts
Mafia Joke!! - A Mafia Godfather finds out that his bookkeeper has screwed him out of ten million bucks; his bookkeeper is deaf. It was considered an occupational benefit, and the reason he got the job in the first place, since it was assumed that a deaf bookkeeper would not be able to hear anything that he’d ever have to testify about in court. When the Godfather goes to shakedown the bookkeeper about his missing $10 million bucks, he brings along his attorney, who knows sign language. The Godfather asks the bookkeeper: “Where is the 10 million bucks you embezzled from me?” The attorney, using sign language, asks the bookkeeper where the 10 million bucks is hidden. The bookkeeper signs back: “I don’t know what you are talking about.” The attorney tells the Godfather: “He says he doesn’t know what you’re talking about.” That’s when the Godfather pulls out a 9 mm pistol, puts it to the bookkeeper?s temple, cocks it, and says: “Ask him again!” The attorney signs to the underling: “He’ll kill you for sure if you don’t tell him!” The bookkeeper signs back: “OK! You win! The money is in a brown briefcase, buried behind the shed in my cousin Enzo’s backyard in Queens!” The Godfather asks the attorney: “Well, what’d he say?” The attorney replies: “He says you don’t have the balls to pull the trigger.”
Wii for everyone? - Hi Kevin - most of the games are party games but you can have fun with some of them on your own - the Godfather, for example, was one that had me hooked for a number of months as I worked my way through the scenarios.
toronto angel group - The Toronto Angel Group is a very hard group to get into. You have to have a very stable and viable business plan and they like to stick their fingers into your pie and they are usually looking to invest big bucks. Which means that they usually want to take control. If you look deeply into these groups you need to know someone or have a very good idea with potential clients backing you up. In my opinion, other sources of financing will give you better control of your business or learning to ask for the money upfront. One of the things I found is that new buisness owners are afraid to ask for the money upfront but every other business expects you to unless you have a proven credit history. Good luck with the Angel Investors
Angel Investors - From Wikipedia, the free encyclopedia the definition is: An angel investor or angel (known as a business angel in Europe), is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. A small but increasing number of angel investors are organizing themselves into angel networks or angel groups to share research and pool their investment capital. With that being said, Angel investors can come from a number of resources. You can try ACA (Angel Capital Association) in US / CA. Family & friends- Well, for me personally, I never do that type of business with family or friends for fear of a damaged relationship. I do not borrow from them, nor allow them to borrow from me. However, in my business I see it all the time. One place you can also try if not self employed, is with your current employer or even co-workers (of course having a good relationship with them is key). Also, get the information out to everyone and anyone about how you are seeking an angel investor, because you never know...just look at Evan's experience!
Re: Ryerson Angel Network Expands its Reach to Help Young Ent... - thanks for sharing very good information on Ryerson Angel Network Expands its Reach to Help Young Ent...........that will be so helpful......


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