Somewhat similar to the mechanics of Facebook, Twitter, or LinkedIn, AngelList is a site that puts entrepreneurs in touch with investors. It’s a no nonsense way for entrepreneurs to make available their ideas with the advantage of having investors readily interested and available if the idea is right.
There are endless stories of successful connection via this online network, and with its popularity growing daily, we thought we provide our readers with some of the best tips we’ve heard thus far.
Let’s Get Started
While it’s important to have that one lead investor, and chances are you’re on AngelList looking for that individual, things are going to go much smoother if you already have a lead investor. AngelList is all about momentum, so if you’re fortunate to get that lead investor early on, then things will turn out better for you.
Of course, if you have to that might mean offering that first investor a very generous deal, so if you and your co-founder think you can swing it, then go for it because after that first investor is listed on your page, others will surely follow.
Using Video To Pitch
The use of video can’t be overstated in today’s online context. For any opportunity to raise money where video is offered as an option, then it’s an absolute must. In addition, make the video the best that it can be. That means clear visuals, in focus, good sound, and of course an confident pitch regarding your idea.
Large amounts of cash aren’t necessary for this video. Remember to be as transparent as possible about your strategies, visions, and goals. Also, take time in your video to address some of the most usual questions you’re typically asked. This way, when you do get that first meeting with a potential investor, you’ve already covered some of the basics the investor can move on to some of the more important concerns regarding your project.
Don’t Forget The Data
When you begin to receive messages from potential investors, you’re going to need a data sheet. This will be your sheet with all of your investor contacts and all of their relevant information. You’ll want to have an area also for any specific notes you have on the investor including experience and what your thoughts are on them as a potential investor.
Form Responses For The Basics
Depending on how popular your idea becomes, you’ll want to consider creating responses that part form in nature because you’ll be receiving a lot of the same kinds of questions and you may receive a lot of them. Instead of taking the time to respond to every single one, getting familiar with a copy and paste strategy will save you some much needed time. Don’t worry, you’ll be able to put a personal touch on each email with an intro and a thank you, but just be ready for getting the same questions your way with some formatted responses.
And remember: Respond to email immediately. 24 hours later in unacceptable.
There are a number of things you can do to prepare yourself for successful networking through AngelList. These are just some to keep in mind as you get started on your startup dreams.