Finding an angel investor to join your board board management is crucial if you are looking to raise substantial amounts of money to expand your business. It’s a long-winded process that requires lots of networking and perseverance. The trick is to reach the right people and make sure your business plan as well as your pitch deck and solid product or service are up to date.
First off, you need to conduct some research on the person you are contemplating approaching and learn about their investing style. Using platforms like LinkedIn or Crunchbase is a great method to find out their investments and areas of expertise. This will help you cross some potential investors off the list, and also give you an idea of what they’re looking for in a company.
The next step is to write an outline of your pitch that outlines your idea, the problem you’re solving, how vast a market is for it and the experience and background of your team. This should be written in Guy Kawasaki’s style (meaning 10 slides in just 20 minutes) and be concise, clear and straight to the point.
It is also a good idea to attend events where you can get to meet with potential angels since these can be a great opportunity to get your business in front of them. You may even be able to pitch directly to them directly.
Angel groups usually have an organized approach than others, with due diligence and meetings being conducted. This makes them more likely than individual to lead a funding round and provide valuable assistance at the beginning of a business.