When you receive an angel investor contact have you thought about how you intend to approach the angel investor? Remember appearances and etiquette matter and this article looks at the various contact methods that are available.
The first rule of thumb when meeting a business angel investor or high net worth individual for the first time is to appreciate how busy they are. So, be prepared with a concise pitch that is to the point. Email, a referral for a face to face meeting or organised angel group meetings for a presentation are all be acceptable methods of contact. However, approaching an angel investor by sending them a business plan will require more thought on your part.
First – You need an action plan to get their attention and be ensured that you are well prepared.
Part of your action plan should be to gain instant credibility – angels will almost always respond when the entrepreneur is introduced by someone they trust.
If you have found an angel investor who is not from a registered angel investment network, it may be an idea to find someone who knows the investor (or even one of the principals of the angel investor group) and ask them for a referral. This often results in a response via email or phone call. This is not the time to send a business plan unless you are specifically asked to do so by the angel investor, in which case do it immediately (if you wish for a non-disclosure agreement, than do so at this stage).
Second – Be prepared. Know everything about your business and practise communicating it in your elevator pitch.
Be confident in your approach and project an image of success, displaying a positive and enthusiastic business attitude. You want to leave the angel investor asking for more information and agreeing to do a follow up meeting. It is at this meeting that you will deliver your angel investment pitch providing more detailed information and answering all of their questions.