Top 5 Tips For Securing Angel Finance
The banking crisis that crippled our economy has effectively pulled the rug from underneath the hopes and dreams of many a small business. No matter how much tax-payer’s money the Government has thrown at the banks, their coffers have largely remained closed and businesses looking for funding have had to look elsewhere or simply fade away under the shadow of insolvency. With savings dwindling and earning no interest; with the ‘bank of mum and dad’ closed for business because of the collapsing value of their home and worries about retirement plan affordability, many businesses have turned to angel finance and found it ready willing and able to help them.
Angels Den is a leading angel finance facilitator, and with more registered business angels than any other network in Europe we know a thing or two about what they’re looking for. So here are our top five tips on how to win angel finance for a business. Something your clients may well find useful:
1. The business plan – Business angels are sticklers for detail therefore any documentation presented to them needs to be accurate, complete and convincing.
2. Financial forecasts – All financial information needs to be expertly produced, easily understood and justifiable. Mistakes here will cause a loss of credibility and interest.
3. The presentation – Those offering angel finance will want to meet with their potential partners and hear in their words why they should invest. The presentation needs to be passionate, precise and persuasive.
4. Questions – A full and complete understanding of your business, its market, finances and strategy are essential. Angels will expect those presenting to them to be able to answer any question thrown at them.
5. Research, research, research – Find out all there is to know about your customers, competition and the potential of the business. You need to become an undisputed expert, and to be able to convey this knowledge to those around you.
Angels Den offers investment pitching advice, seminars on what business angels want and drop-in days for individual assistance, all to help inventors, start-ups and small business owners win the finance they need.
NB: Dressing up isn’t one of the tips, but dressing for sucess could be!
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