Incubators are the Gateway to Angel Investment 💸
You’ve perfected your business plan, have your product prototype, and have successfully tested the market. Now, your ready for some investment to take your innovative business to the next level!
But wait. . .how?
You have about 10 – 20 minutes standing in front of Angel Investors and if you pitch right, your business may just have the chance of a lifetime to scale high.
Being a client at the Innovation Cluster provides a lot of perks. You are working steps away from staff who are ready to help you with any situation, one of them being your helpers in preparing for pitching to investors – call us gatekeepers, if you will!
Did you know that the Peterborough Region Angel Network is one of our Industry Partners? The Angels know how important it is for a startup to work with an incubator before pitching to angel investors. Therefore, anyone who is interested in pitching to the Peterborough Region Angel Network must come to the Innovation Cluster first!
The staff at the Cluster have helped many clients perfect their pitch and make sure their business is ready for the stand.
Here are 7 things to keep in mind as you prepare for pitching to the Angels. . .
- PINPOINT KEY BUSINESS ACHIEVEMENTS
What accomplishments have you had so far? Investors want to know how you’ve gotten to this point, and the issues you’ve surpassed trying to build your business. Do you already have clients on board? Do you have an online following begging for your product to be public? These achievements are important, and can help identify what the future of your business will look like if given an investment opportunity.
- KNOW THERE’S MORE TO IT THAN “PEOPLE NEED MY PRODUCT”
What business going into an investment pitch isn’t innovative and needed in today’s world? Although it’s important to get across the need for the product, you want your pitch to be told in a way that the product’s self-worth is showed naturally, rather than being preached about. You started this business because you know how important it is to exist, so find a way to convey that to the angel investors so they feel the same way.
- RECOGNIZE THERE WILL ALWAYS BE COMPETITION
Claiming your business rises above the rest isn’t only naive, it’s untrue. There will always be competition and people working to be better than your business, watching your every move. So instead of “being the best”, be different. Figure out what your quirk is and run with it to sell how your business has more potential than the rest.
- KNOW YOUR VULNERABILITIES
Every business has their vulnerabilities, recognize them. What are your threats, and what could go wrong? Once you know what they are, be prepared to answer how you can work around them so your business won’t fall. Having this worked out and are able to answer as soon as a potential investor asks, will show you are prepared for any challenge.
- FOCUS ON PAST ACHIEVEMENTS AND FUTURE MILESTONES
Think back to your past successes and failures. Use them to prepare for future challenges and create a step-by-step plan to grow your business. Not everything goes as planned as an entrepreneur that often, but setting yourself milestones will give investors confidence in supporting your next steps in the plan.
- WHAT IS YOUR TEAM DYNAMIC?
The team dynamic is extremely important to investors during a pitch, because it’s just as important for businesses growth. If you don’t have a team, you can’t be a one-man-show forever if you want your startup to expand. So whether you’re going into the pitch as a team or as an individual, you’ll need to be able to show investors how you’ll continue to attract talented, innovative and skilled people to your business, so your startup will continue to thrive. Remember – collaboration = innovation.
- WILL YOU REALLY PUT THE $$$ TO GOOD USE?
This may be the most important one. Angels want to know their investment is being put into the best use possible and that they are able to make a return. You’re product is innovative, it’s needed, and it’s possible, so what do you say now to cross that line into investment? Here’s the secret: The angels want specifics to where their money is going, so by preparing with this checklist, you should know exactly what you’ll do with it. If you want people to invest money into the future of your business, you must be able to know every detail of how you want that future to look.
Are you a client of the Innovation Cluster?: If you think you are ready for pitching to the Angels, you’ll need to come to us first. This list is the foundation of preparing for your pitch, but there’s always more to be done. And as an entrepreneur, we know you’re used to that. So stop by our office and we’ll help you prepare for the best pitch the angels have ever heard! 😎
Have a company and want to join the network of entrepreneurs in the Innovation Cluster? APPLY TODAY