Angel investors are wealthy individuals who are retired entrepreneurs or entrepreneur currently managing their own business that provide non conventional funding for start-ups. This term was used to describe wealthy individuals who invested in Broadway theatre production that would have otherwise not seen the light of the day due to financing challenges.
In 1978 Professor William Wetzel of University of New Hampshire used ‘angel’ to qualify these group of individuals whose interest not only lies in profit but also mentoring and fulfillment of passion. How can one attract these individuals to finance his/her ideas? The answer is simply just being smart and hardworking. One has to:
- Have an exceptional business idea
Angel investors are out to financed unique ideas with very slim margin of failure and high returns. To achieve this, one must think, create and innovate like Mark Zuckerberg, Cameron Johnson, Jeff Brezos and other world top entrepreneurs. Your ideas should look like Jason’s Iroko Tv, Bilkisu’s Wecyclers, Ikenna’s Heels.ng, Okechukwu’s Okadabooks.com or Mark’s Hotel.ng
- Know how to write convincing business proposal
You must be able to come up with a proposal that can completely communicate your ideas and convince any angel investor even in your absence.
- Write a business plan
With a plan anyone will be able to understand the roadmap of your business and the level of challenges and success that will be attainable within specific time frame.
- Be flexible to new ideas and helpful opinions
To prevent failure, investors of this nature contribute ideas also to propel the business. You are suppose to be smart enough to adopt helpful tips hook line and sinker.
- Enter contest
Winners of major business idea contests get easily expose to a lot of supportive organizations and individuals. Enter as many contests as possible as there is no harm in trying.
- Join networking platforms
Business clubs, events, social media and websites like Gust and Angellist are unique meeting points and take-off ground for entrepreneur and angel investors’ connections.
This article was written by Sule Muhammed Lawwal