Inc. magazine swears that there’s still angel investment funding out there for the right businesses. Well, OK, maybe “swear” is too strong a word. Still, the articles “Angels Are Still Interested” and “Angel Investing 2009” paint the picture that, while perhaps not quite roaring like a mighty river, angel investor financing is more than just a pathetic trickle.
Because angel investors are being far more cautious than in years past, entrepreneurs need to put far more thought into how they attract angels. You need to:
- Have experienced people on your management team, preferably ones who have weathered economic volatility
- Revise your game plan to reflect the changed economic realities
- Do some soul-searching to see if you’re really passionate about your business idea
- Demonstrate an expert knowledge of your market and the discipline to follow thought
For more information on where to find these angels, check out Inc.’s guide to angel-investor networks, available in the hard copy of the magazine (sorry, folks), where you’ll also get more tips (like the ones above) from Kasey Wehrum about choosing the right angel . . . and getting chosen .