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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
An Insider Reveals How to Get Smart Funding for Your Billion-Dollar Idea
What Every Angel Investor Wants You to Know (2013) offers start-up entrepreneurs tips on what to look for in an investor – and how to actually get an “angel” to invest. With solid preparation and a good understanding of what motivates an investor, any entrepreneur can secure financing for her next big idea.
Most people consider starting their own business at some point in their life, be it mowing lawns or starting a multimillion-dollar business.
But no matter what the idea, they all have one thing in common: Start-ups need capital to get started.
For most entrepreneurs, this means finding an investor. And if they’re lucky, they’ll find an angel investor.
An angel investor funds start-ups with her own capital in return for partial ownership of the project. Such a person typically possesses assets valued at over $1 million, has an annual income above $200,000 or a joint income exceeding $300,000.
Considering these requirements, only three percent of Americans qualify as angel investors!
Angels differ from regular investors in that they offer more than just money to a project. While it’s certainly true that angel investors write checks, they also contribute to your business by investing their time and sharing their experience and valuable connections.
Typically, angel investors have invested in many enterprises, and in doing so, have acquired tons of experience. They can share with you their insights and potentially save you from early mistakes.
Angel investors also tend to gather together. Finding one who is truly committed to you and your business idea means he could introduce you to other potential investors as well.
Unfortunately, the primary goal of many entrepreneurs is securing funds as quickly as possible. In their haste, they often strike a deal with the first investor that comes their way.
Remember that your relationship with your investor is a long-term commitment. Think of your investor like your spouse: you’ll be together for a long time and you’ll also share assets.
Because of this, you need to find someone who won’t jump ship when things turn sour. You need someone who will stand by you and your business, through thick or thin.
In other words: you need an angel investor!
But how exactly do you find an angel? The following blinks will reveal how.
Fact: Every year, 250,000 angel investors fund 50,000 start-ups in the United States.
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Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trialBlink 3 of 8 - The 5 AM Club
by Robin Sharma