Do you know how to dance with angels?

August 28, 2012 at 9:39 am Leave a comment

An interesting article lists 6 ideas that we have adapted for biotechnology companies doing the money dance with Angel investors:

1. Get to “no” fast. Do not get strung along by indecisive investors. Investors hate to be pestered; on the other hand, the clock is ticking for the entrepreneur. Request a reasonable time table and follow it.

2. Raising money can be costly. Factor the cost of raising money including fees. Ask for the correct amount. The general rule is figure out what you think you need and multiply that number by 2.5. You could easily spend $50,000 on a $500,000 funding round.

3. Be the last to leave if working out of town. Stick around for a day or two and schedule breakfast and lunch meetings with potential investors. Once you leave town they can cool down fast.

4. Keep talking to as many investors as possible while others are evaluating an investment in your company. Your CEO might spend all of his time in fundraising but keep going.

5. Use some great tools that are our there for both entrepreneurs and investors, like gust.com – an angel platform that lets entrepreneurs post their materials, track viewers and manage document flow and communications. Consider crowd sourcing opportunities where available.

6. Investors want a short and sweet: a two-page executive summary and a succinct and smart slide deck. Your job is to show passion and hit the main points.

For more click here

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