Seven Steps to Attract Your Millionaire Angel Investor

Written By Gary Spirer Published March 21st, 2010

Angels, if you’re not familiar with the term, are investors that do far more than give you money. They typically invest their own funds contrary to venture capitalists – usually in exchange for convertible debt or ownership equity. It has been claimed that angel investments account in total for almost as much money invested annually as all venture capital funds combined, but into more than ten times as many companies (US$26 billion vs. $30.69 billion in the US in 2007, into 57,000 companies vs. 3,918 companies). Angel investors keep in most cases very close eye on their investment with you. They want to be a part of it and they want you to succeed in long term.

So how do you find an angel for yourself and your business?

Seven Steps for Finding Your Millionaire Angel Investor:

Step 1: Be yourself. If you are not with yourself and real – why would anyone believe in you. You have a passion about where you are taking the company. Don’t fake – authenticity counts.
Step 2. Define your vision. Dare to Dream huge. Make it “millionaire”-like in scale. I don’t necessarily mean the size of the business. Your angel’s mindset is likely accustomed to thinking really big and powerfully compared to you. Again, be real and realistic, but your authentic passion and intensity level must be huge.
Step 3. Get Organized. Make sure you know your industry, latest trends i.e your own finances, business plan, executive summary, sales pitch, etc. Know what you don’t know and what you do. No suprises in your way.
Step 4.Select your Angel. Find out as much as you can about the possible angels on your list. Their likes, dislikes and what they have funded before. Who are their key people: their spouse, personal assistant, administrator, friends etc.
Step 5. Indirect Contacts. The truth is that many times the angels may not be not accessible directly – at least not very easily. Figure out how you might get in front of a key contact of theirs. That should not be that difficult. Build a relationship with that person.
Step 6. Practice Makes Perfect. Practice on your last choices for angels first. Then go up one by one before going to your number # 1 choice for your millionaire angel (your “A-list”.) We all make mistakes so it is important to iron out the kinks on those you really do not want as angels as much. Every trial will make you better – and your message clearer.
Step 7. Everyone Likes to Give Advice – so Ask. Most angel investors are somewhat hit up all the time for money. Get them relax and really communicate with you, let them know you truly would like their advice on what to do next for your business. Be real – no BS. Most of the angels have a good radar for BS.

There are no steps that ensure you will nail it every time. However, being yourself makes you far more interesting as an investment to someone who is constantly approached for money.

Good luck and let me know if this helped!

Action Steps for the Week:
* Research your choices until you feel you really “know” your millionaire angel investor, their interest, previous funding, friends etc.
* Why would anyone invest in YOU if your business is something that does not excite them. Make sure you are really excited and passionate about it and figure out your angel’s interest level in your industry. Your chances go up quite a bit when you know what you are after.

You’ll be in front of your potential angel sooner than you think if you follow these steps! Don’t give up!

1 Comment

  1. Rita Gilmore says:

    Hello all you out there. I really hope I’m not being stupid, but here goes. I have a dream. I’ve had for a few yrs now. It comes in a couple of parts but nobody seems to want to help.maybe one of you will. For the last few yrs I’ve wanted to crochet the worlds largest blanket. I also want to do it in a place where I’m all by myself without seeing a single soul for at least 6months to a yr. I’ve also wanted people, a lot of people just to donate a dollar each to help my project along but nobody wants to help. Would one of you out there help. If it goes right everybody envolved will make money. Thank you for reading my letter. I just hope you’re not laughing to hard Rita Gilmore


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