Here are three great places to start when seeking angel investment.
Ah, angel investors! Investopedia explains that, as their name implies, angels usually provide more favorable terms compared to other lenders, since they’re interested in supporting great people and ideas rather than simply making big profits. So where do you find angel investors?
- Start with professionals who are already familiar with you and possibly your business. Think about lawyers, accountants and doctors. Even if they’re not interested, they may know colleagues who are.
- Suppliers and vendors you work with are also a good starting point. Their investment might not come in the form of cash, but in better terms of payment, cheaper prices or using their credit to help you get a loan.
- A customer who loves your product or service is another great potential angel. They already know the value of what you’re providing, they understand your business and, if they truly love it, really want to see it thrive.
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Author: Dan Bova