Meeting an Angel Investor for the first time
By Venture Giants
When you receive an angel investor contact either from Venture Giants or from somewhere else, have you thought about how you intend to approach the angel investor? Remember appearances, and etiquette count a lot and this article look at the various alternative contact methods that will be available when a budding entrepreneur has to make contact with his/her Angel investor for the first time.
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 and to be prepared with a short, concise pitch that is to the point so and does not waste their time. Via email, a referral for a face to face meeting, making a request for a presentation to them or an organized angel group with a fully prepared elevator pitch will all be acceptable methods of contact. However, approaching an Angel investor by sending them a business plan will require additional consideration on your part. So, once you have identified an angel investor or an angel organization that you want to approach, what do you do?
First - You need an action plan to get their attention and you need to make sure that when you do meet with them, 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 that is not from a registered angel investment network like Venture Giants, it may be an idea to find someone who knows the Angel investor (or even one of the principal leaders of the Angel investor group) and ask them for a referral. This most often results in a response to either an email or they will at least take your 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 the Angel investor to sign a non-disclosure agreement before sending this over, than do so at this stage).
Second - Be prepared - Being prepared means knowing everything about your business and having practiced communicating it in your elevator pitch (More on this to follow).
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 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.
Remember, the decision to invest will not be made on the spot during your initial approach but the decision not to invest could be, so don't talk yourself out of the opportunity to present. Be patient, strategic and prepared to give yourself the best chance of succeeding.
Venture Giants is a premier UK business Angel investment network and small to mid sized business networking portal that matches active business angel investors with entrepreneurs' seeking investment capital and business funding.
Written for and behalf of Venture Giants Enterprises Ltd. All rights reserved 2009
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