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What are your recommendations when approaching angel investors?

Discussion in 'Financing Your Startup' started by ruener79, Apr 1, 2016.

  1. ruener79

    ruener79 Entrepreneur

    I read in an article that angel investors are the lifeblood of early-stage startups, despite the popularity of crowdfunding and interest from venture capitalists.
    In your case, have you approached angel investors for funding? What was your experience like? Did you get the investment funds you need or were you turned away? If you were turned away, what would you have done differently?
    If you were successful, what do you recommend others do to attain the same success?

  2. jona

    jona Entrepreneur

    Have passion, you need to truly believe in your idea and you have to transmit that, you can't have any doubts that your idea is the greatest thing ever and that it is going to work. Have you hear how you don't sell the steak but sell the sizzle? That's the same principle for your idea, sell it with passion.

    The other aspect is little less about passion and more about cold calculations: have a business plan, a solid one, with a great proposal, good financial study, market studies and so on. Be prepared, do your homework, show that you care, if your passion doesn't convince them then the cold numbers that show how this idea could make a profit will.
  3. briannagodess

    briannagodess Entrepreneur

    To be honest, I've never tried getting funds from angel investors. If I were going to try for an angel investment, here's a few things that I would do:
    • Be prepared to be rejected. I think it's important for us to understand that we can get rejected despite our idea being very good. And the earlier that we can accept that, the easier the process of pitching our ideas would be.
    • Plan ahead. Again, you need to make sure that before you present your business idea to them, it's flawless. Create a powerpoint presentation and even written copies of your startup. Make sure it's catchy, engaging but professional. Anticipate their questions and answer them as truthfully as you can.
    • Know what the angel investor wants. And of course, don't just tell them things because they want it. Again, being honest is important but if your business idea is well suited for them, then you've got the best of both worlds.
    • Connect with the angel investor. You're going to be spending a lot of time with them in case your idea is accepted. So better make sure that you guys have some connection and can relate to some level.
    Good luck!
  4. Cong1987

    Cong1987 Entrepreneur

    did you use PoweredTemplate? I heard a good resource, a lof of free templates. Could anyone something say?
  5. stark_intern

    stark_intern Entrepreneur

    Make sure you have a fully mission capable MVP to show them. If it has a positive cashflow and room for growth, all the better. Past all the song and dance, they're there to make money--give them a reason to jump aboard.
  6. T J Tutor

    T J Tutor Administrator Entrepreneur

    They are wonderful, the Angel Investors. Just keep in mind that at the moment most of them are looking only at higher level and vetted projects. It's the result of worldwide turmoils and expected market corrections in other countries as well as our own.

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