But angel investors are not merely a reservoir of money. Their advice can help you achieve your goals and also grow as an entrepreneur. So when talking with potential angel investors, ask questions about their prior investments, their expectations and the degree of involvement they are willing to put in.
Who is the right investor for you?
What an angel investor can bring goes far beyond just money. Seed investing requires particular skills, so let’s see what you should look for.
Experience
An ideal investor will already have had experience in the building and running of a startup. Your investor should have an in-depth knowledge of your industry. A record of investing in startups that become successful is what you should be looking for. For that, experience is vital, not only money. Advice can be just as important as funding.
Trust
You need an investor who is trustworthy. Confidential information involving your company must remain confidential. And again, you should be able to trust your investor’s guidance and knowledge.
Risk attitude
You need an investor who is willing to take calculated risks. There is no startup without risk, which is inherent to entrepreneurship. Of course, risk should be based on a rational basis rather than emotions, as we are reminded by the addicted2success.com website.
Support
Good angel investors are supportive. They will help your team when the going gets tough. They will coach you and provide you with empathy and motivation. They will encourage you – and also challenge you when necessary.
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