Finding an angel investor to join your board is essential if want to raise significant amounts of money to boost your business. It’s a long-winded process that requires a lot of networking and hard work. It is crucial to meet the appropriate people and ensure that your business plan along with your pitch deck and good product or service are all up to scratch.
It is important to do some research, and then learn more about the person you’re considering approaching. You can find out about their investment style and experience using platforms such as Crunchbase or LinkedIn. This will help you get rid of potential investors on your list, and also give you a better idea of their expectations.
You will then need to create an elevator pitch that highlights your idea, the challenge you’re solving, how vast a market is for it, as well as the experience and background of your team. It should be written in Guy Kawasaki style (meaning 10 slides in 20 minutes) and should be clear, concise and straight to the point.
Attending events where you can meet potential angels can be an excellent way to get your company in front of them. You might even be in a position to directly pitch them.
Angel groups are more formal than individual groups, with meetings and due diligence. This makes them more likely than individual to be the ones leading a fundraising round and offer invaluable assistance in the early stages of a company.