Approaching Angel Investors
Bill Warner Friday, June 12, 2009
You only get one chance for success when approaching angel investors. You need to make the most of it by being very well prepared. Here’s some really solid advice from Jim Casparie in his Forbes article. Take a look at Paladin’s suggestions as well.
Like the Boy Scouts, “Be Prepared”
You would never think of approaching a potential customer or alliance partner without being well prepared. You have a purpose, an agenda of what to talk about, a desired outcome and a negotiating position. It takes more than a little work to get ready for such a meeting. Well, it’s the same for getting ready for angel investors. Being prepared includes:
- A complete business plan including financials
- Knowing all about the angel investor group, including their business interests
- Referral by an influential business person
- A concise business plan presentation that is customized to the angels group’s interest.
- Practice, practice, practice; especially answers to anticipated questions
Attitude and mindset matter a lot
No matter how good your business may look to investors, they are really investing in the entrepreneur. Investors know that passion makes the difference. So, let it show in a balanced and business-like way. Angels have to have confidence in the entrepreneur or they won’t invest.
Filed Under: Angel Investment, Financing a Company, Starting a Business
Bill Warner is the Managing Partner of Paladin and Associates, a business consulting firm in the Research Triangle Park area of central North Carolina, and is the Chairman of the Triangle Accredited Capital Forum, an angel investor network with over one hundred members throughout the southeast.
Bill Warner is the Managing Partner of Paladin and Associates, a business consulting firm in the Research Triangle Park area of central North Carolina, and is the Chairman of the Triangle Accredited Capital Forum, an angel investor network with over one hundred members throughout the southeast.
