Getting an angel investor on board is crucial if you hope to raise substantial sums of money to develop your business. However, it is an endeavor that requires a lot of work and networking. The trick is to reach the right people and make sure your business plan pitch deck, pitch deck and solid product or service are up to date.
First off, you need to conduct some research about the individual you are contemplating approaching and learn about their investment style. You can research their investments and expertise using platforms such as Crunchbase or LinkedIn. This will help you identify a few potential investors off your list and will provide you with an idea of what they’re looking for in an organization.
Then, you need to create a document that outlines your concept, the size of the market, as well as the experience and background of your team. This should be written in the style of Guy Kawasaki (meaning, 10 slides in just 20 minutes) and be concise, clear and straight to the point.
It is also an excellent idea to attend events where you can get to meet with potential angel investors since these can be an excellent way to get your business’s name in front of them. You may be able pitch directly to them.
Angel groups tend to have an organized approach than other groups, with meetings and due diligence taking place. This makes them more likely than individual to be the ones leading a fundraising round and provide invaluable support at the beginning of a company.
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