Try this when you find angel investors willing to talk to you
Startup fundraising is very similar to sales. You have to be able to get the prospect's interest as early as possible and keep their interest. So, when you find angel investors that could be a fit for investing in your startup, the key is saying the right things.
No pouncing allowed
Some of the startups I have worked with immediately turn to pitching when they find angel investors to talk with. This even happens at social events where potential investors are in attendance.
While they are always looking for good ideas to invest in when you find angel investors to connect with, be sure that you don’t come off as the proverbial used car salesman that is willing to pitch their product to anyone willing to listen.
Of course, you should feel free to share with them what you and your company do. But don’t turn that into a chance to pitch them.
Tell me more
Most investors are in their financial position because they have had some level of professional success. With that comes a lot of opportunities to learn from them.
When you find angel investors that show interest in your idea I always recommend a quick answer followed by asking a few questions of the investors. That might look something like this:
“Me? Oh, I am the founder of an artificially intelligent driven loan decision software solution. How about yourself? I’d absolutely love to hear about your professional background and experience.”
This is the classical listen more approach where you get them to talk about themselves.
Short and sweet
Be sure to be as concise as possible when you meet with investors. Whether that is in a social setting or during an actual investor meeting, make sure you answer their questions but be sure to leave them wanting more.
Just like the goal of meeting a potential investor is to get to the next step in the process, the goal of answering an investor's question is to entice follow-up questions.
What are some other tips you can share that have worked for you during our investor meetings?
Be sure to share them in the comments section below.