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In Search of Angels
Entrepreneur Pam Kauten is taking the helm of the Tampa Bay Technology Forum, and focusing on finding angel investors.
Successful Tampa Bay area entrepreneur, chief executive and saleswoman Pam Kauten has decided to share her wisdom full time.
Kauten, founder of online services providers Florida CareerLINK.com and Florida HomeLINK.com, has joined the Tampa Bay Technology Forum as executive director for the Emerging Companies Academy.
She will be mentoring entrepreneurs and helping them get funding.
Kauten knows of other entrepreneurs who found funding in other markets, such as New York, Boston and San Francisco and had to move there as a result. She doesn't want to see that happen on the Gulf Coast.
"We'll be looking for investment angels," Kauten told Coffee Talk. "Sarasota-Manatee is one of the richest areas of the state. There should be lots of angels there. We just need to find more of them, because of the way the economy is. They can invest in companies rather than real estate."
Kauten ran HomeLINK, an online real estate service, for about a year and is selling the Web site. Before that she ran Florida CareerLINK, an online job search service with local job listings, which she sold.
Prior to that, she was a regional sales director with Mary Kay Cosmetics in Sarasota and then opened her own cosmetics business there called Karisma. She also sold uniforms and worked in radio sales in the Tampa Bay area.
Kauten knows the importance of continual capital.
While running Clearwater-based CareerLINK, a competitor company in Sarasota, Jobing, moved into her market. She had to spend thousands more on advertising to create the image that CareerLink was larger. She used the equity in her home and her Roth IRA.
The first things entrepreneurs need to do to get funding include writing a detailed yet clear business plan with measurable goals, a two- to 10-minute simple elevator pitch about their company and a clear answer to how angel investors will benefit from investing, Kauten says.
"Angels are looking for what's in it for them," she says. "If it's not cutting-edge technology, they are looking for revenue. They want to see revenue in there. You have got to have a plan for getting it. You have to have a five-year plan."
It also helps to have and use business contacts.
"You have no idea how many people want to be entrepreneurs," she says. "Presentation skills count. A solid business plan counts. Who you know counts. It's extremely difficult to get into a door unless you know somebody, who knows somebody, who knows somebody."
So Kauten, a 49-year-old single mom and self-described "aggressive female" who drives a Harley, is spending time getting to know angel investors and venture capital firms so she can direct entrepreneurs to them.
"I can't sell it," she says. "I don't have a fund. I'm like a matchmaker."
Kauten will also be educating investors and venture funds about the Gulf Coast's demographics.
"Some people still feel we're a retirement community," she says. "That's true for a lot of people outside our market."
Kauten's service is free to TBTF members and includes telephone conferences, in-person meetings, creating strategic relationships and mentoring. Entrepreneurs can reach Kauten at (727) 417-5949 or at [email protected]. For more information, go to PamelaKauten.com.
-Dave Szymanski
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