How to close angel investors? BlockX Network
Many posts center around raising funds from Silicon Valley VCs. However, a wide range of investors exists worldwide. BlockX will guide you some ways to step closer to close angel investors.
Recap Elizabeth Yin, The majority of businesses may not receive support from Silicon Valley VCs because:
Their ideas are not based on software
The market size is not considered large enough for VC investment
The founders are not interested in building a business with a "Go big or go home" mentality
And so on….
TYPE OF INVESTOR
Why do people invest?
There are some reasons:
Have a genuine interest in the product
Be passionate about solving a problem
Believe in the founders
Build relationships with other investors
Educate about the space
Demonstrate their strengths, show off
There are many angels!
Family
Friends
Friends of friends
Co-workers
Former co-workers
Acquaintances
People at events
Etc…
STRATEGY FOR RAISING ANGEL MONEY
Step 1: Meet with LOTS of people
Step 2: Hone your own pattern matching
Ex. Ads vs email
Geolocation
Step 3: Don’t waste time
TRIAGE TRIAGE TRIAGE!
Win in 1 meeting
Don’t try to convince people
Step 4: Close the money
Sign docs immediately, Each day matters
Be careful who you raise from
Have they invested before?
TACTICS
Pitch everyone you know
Plant the seed...
Make a specific ask (cont)
It’s okay to make small first check
Get momentum with checks
Biggest mistake: waiting for a lead
Checks beget check
Throw parties / events to meet more investors...
Ask friends to throw dinners
Stay organized - Use a CRM
You’re not hot until the end...so follow up many times!
This blog conveys the following message:
Numerous wealthy individuals around the world, even those who are not ultra-rich, can be angel investors willing to write a $1k-$10k check.
Some angel investors may not recognize their own angel status, so it's up to you to make them aware that you're interested in receiving an investment from them.
Angel investors are motivated by diverse factors, so find a way to connect your story with their interests. Like sales, securing an investment means addressing their needs instead of just your own.
It's a matter of probability – pitch your idea to as many people as possible and persist in your efforts.
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