If you’re looking to raise large sums of cash to grow your company, an angel investor is crucial. But, it’s an effort that requires a lot of hard work and networking. The trick is to reach the right people and ensure your business plan, pitch deck and a solid product/service are up to par.
The first step is to conduct some research on the person you are thinking of approaching and understand their investing style. Using platforms like LinkedIn or Crunchbase is a good way to discover their investments and any areas of expertise. This will help you identify a few potential investors off the list and will also give you an idea of what they’re looking for in the company.
You will then need to create an elevator pitch that highlights your idea, the problem you are solving, how much of a market is for it and the background and experience of your team. The document should be written in Guy Kawasaki style (meaning 10 slides in 20 minutes) and should be clear, concise and to the point.
In the end, it’s an excellent idea to attend events where you can meet with potential angels since these can be an excellent way to get your business noticed by them. You may even be capable of presenting directly to them directly.
Angel groups are more formalised than individuals, with meetings and due diligence. This makes them more likely than individual to lead a funding round and offer invaluable assistance in the beginning of a company.
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