Yesterday, Brian Cohen spoke at the Princeton Tech Meetup #11, providing some insider tips on what Angel Investors want Entrepreneurs to know. We'll be sharing some of the insights we gleaned later in this blog post. First, we want to help Brian promote the book that he co-authored which is debuting in April. For a short time, the book will be available for half price on Amazon to pre-order. To get it at the discounted price now, click on our affiliate link below: What did we learn from Brian? While Angel Investors provide 90% of the seed money that helps startups get off the ground, they are looking for a BIG payoff (if you look at the slide at the left, it does NOT mean that Brian left the room and came back 30 times). In fact, Brian cited that only about 1 in 40 companies that go to Angels get an investment (as compared to 1 in 400 who present to VCs). The next question is: what will make YOU appeal to an Angel? If you really want all the answers from an Angel Investor's perspective, you have to buy Brian's book: For a teaser of what's in the book, here are some of the notes we took from Brian's presentation:
If you are getting ready to launch your company, you'll also want to check out the new company created by Brian and Trace Cohen, Launch.it. It's a free newsroom for you to publish your story. And if you're not ready to launch yet but you need funding from an Angel Investor, then let us remind you that there's always more advice you can get from Brian's book! What else did you learn from Brian's presentation?
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Dollars tend to get people's attention. When you're in a meeting, if you pull a hundred dollar bill out of your pocket, crinkle it around a bit, then you'll likely get some heads to turn. If you offer to give it to someone who comes up with the best idea, you'll also likely get plenty of suggestions. In this post, we'll discuss several ways you can make money. But before that, we want you to think about... Why do you want to make money? Is it so you can feed your family? So you can buy those shoes that you like? Go on vacation? Pay off your debt? Donate to your favorite charity? Or do you want to invest it back into your business to make more money (and what would you want to do with that "more money")?
Everyone is at a different stage in his or her life with varying levels of needs and desires that tie in directly with financial concerns and goals. If you are a teenager, your goal may be to save up money to buy a car (and you may not need any other money, as your basic needs may be met by your parents and other family members). On the other hand, if you're a parent and trying to support a family with wages that don't quite make ends meet, then your goal may be to find an alternative source of income to supplement your current salary. Another scenario might be that you are a business owner, and you make enough earnings to support a comfortable lifestyle -- but you are devoted to growing your company and you want to take it to the next level. Whatever stage you are in, you can review the list of options below for how you can "make" money -- and you can decide which way(s) will help you get you to where you want to be.
Robert Kiyosaki in his "Rich Dad, Poor Dad" books has described individuals as being in one of four quadrants: Employee, Self-employed worker, Business owner and Investor. To find out more about what category you fall under, and access some of his great resources, you can register for a free "Rich Dad PowerPack." We aren't making any money by sharing these links in this post, but we just think they're valuable tools that can help you expand your vision and grow your business. Good luck, and see you at the top! |
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Affiliate Disclaimer: Inkwhy may receive commissions for purchases made through links on this website & blog. We thank you for your support of our content.
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