When I finally got up the nerve — on March 1, 1979 — to go out on my own and open Angell & Company it was a scary thing. I had two kids, and an ex-wife who was chafing at the bit to throw me in jail if I was late with my child support. I sent out an announcement of my madness and the first person to call was the marketing director of a big bank. His name was Mack Miner.
Mack said he wanted me to do a tracking study for him. Year contract. He then asked me if was well-funded. I replied, honestly, that I wasn’t.
So, he then asked me how much of the tracking study money would go to outside vendors and how much would go to me. And I told him.
Normally, billing would be spread out for the length of the year long contract. But Mack said to bill him the full amount right then. He was, in effect, advancing me money and funding me. I was deeply touched, and I reciprocated by opening a banking account to cover his advance money [so his bank was assured $ if I went toes up.]
That advance money took a lot of heat off me. It gave the me the security and latitude to become a fabulously successful company.
And I owe much it to Mack’s help. How do you thank somebody like that?
I just heard that Mack has died. He was 70. I was honored to have him as my friend. Honored.