

Ask HN: Any advice for our first meeting with an angel investor? - ncash

Hello everyone!<p>We have our first meeting with an angel investor tomorrow, so I figured I would see what advice the HN community would offer on talking/negotiating/working with angels.<p>We are from the Midwest, so the tech startup environment is quite different. I'd be especially interested in hearing from any other Midwest tech startups that got angel funding.<p>Thanks in advance!
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DHuang
Don't be intimidated, take control of the meeting. Confidence reflects
success, as a matter of fact, just think of any initial meeting with an
important investor as a first date with a girl, stay cool, be charming and
impress.

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petervandijck
You may have just made it worse :)

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dmlevi
I have not received from Angel Investors currently but I made a a couple
pitches to some In Chicago and also received great advice from a highly
respected investment banker in NYC. That being said make sure you have a clear
path to revenue, it should be easy to understand. Secondly make sure your pro-
forma and all your numbers make clear and logical sense. Your predictions cant
be too conservative or too far fetched, use your best judgment. You wont
receive any offers tomorrow so dont worry about negotiating. If they for some
odd reason do make an offer, just ask to sleep on it.

Be enthusiastic and convincing. At the end of the day, you are selling. Good
luck.

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mindfulbee
Definitely work on telling your story. I think thats the most crucial part in
creating an imagery of who your consumer audience is.

Also, have you been valued at a price yet? I would be slightly weary of
negotiations over equity if you are in your micro stages. Just because it's
easier to be valued higher over time. (I.e. you're easier to go from a value
of 0 to 10 million then from 1 million to a 10 million valuation) If you're in
your infant stages...I would stall it out for awhile, but that's just my 2
cents. =) hope that helps?

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staunch
When I have a meeting I'm nervous about I always repeat in my mind "It's just
a conversation". If you don't have trouble talking to normal (smart) people
about your project then you shouldn't have any trouble talking to a good angel
investor either. It's just a conversation.

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rksprst
Be clear on what you want. If you want funding, specifically ask for it.

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petervandijck
In particular, ask them if they can/want to lead a funding round (that other
angels participate in). If that's what you want.

