Preparing for an Angel Investor Meeting
If your business plan catches the eye of a potential investor, the investor will schedule a meeting with you. While you need to put forth your best foot for this meeting, it is important for you to understand that the business angel already knows quite a bit about you. First, he has likely read your business plan, and has decided that you know how to put together a proper proposal. Also, since so many people contact investors on a daily basis, they are careful to properly screen potential business owners. If you have a meeting scheduled, there is a good likelihood that the investor knows someone who knows you, and has already talked to this contact about you and your potential as an investment.
If you know of this connection, or if you already know your potential investor, then you may want to network with the investor before your first meeting. You can meet with the investor at social gatherings, and do some preliminary discussion at this time. You will make a first impression, and stick in the investor's mind even before the initial negotiation session.
When the day comes for your initial official meeting, you are going to be nervous. Knowing what to expect can help eliminate some of this nervousness and tension. First, be thoroughly prepared to present your business model to the investor. Have confidence in your product or service, and present it in a favorable light. The majority of the meeting will consist of you presenting the business. Also, be prepared to agree to an investment that day. You can have a letter of intent in your briefcase, in case the investor proposes an agreement. This shows your confidence and ability to plan ahead, a good trait in any new business owner.
Dress for success when attending your meeting. Wear a sports coat and tie, or a nice dress or pant suit. Remember, you are asking for money to become a business owner, so you should dress the part. Even if clothing has nothing to do with your business plan, your appearance makes a huge impression on an investor.
With these tools, you can be less nervous about your business angel investment meeting. Remember, you are confident and have a great plan for your new business. Be prepared to let this confidence show! Confidence will be the key to landing the investment deal.
- Take the VentureWorthy survey to find out more about Angel Investors & preparing to meet with them!