You cannot expect a direct and immediate answer to your prayers that your business concept will make its way to the market for real. It is alright to pray but there is a need for you to act as well. And you will need angels to back you up and catch you in case you fall into the pit of failure.
These angels are not those you see in movies. They are the startup investors or better known as the angel investors. They can be some people close to you or other people you meet along the way but you do not even know their names at first.
The main issue here is trust. You need people you can trust your ideas and concepts with. Hence, family and friends could be the perfect angel investors that you can truly trust. Aside from the fact that they are easy to approach, they are also reliable when it comes to finances.
There are, however, some loopholes in choosing your friends and family. It could affect your personal relationship and loyalty with one another. Unless you will make a valid and clear agreement that you will not involve personal feelings if all else fails, you could lose both the business and your bond. Money can be blamed for situations of conflicts so beware.
If you are confident that you can get through with all the challenges together without involving your personal and family relationship or friendship, remind yourself that out of ten startups, only one becomes a success. Hang on to this principle so that you will understand one another and retain your personal relationships even if it fails. This is a must.
With this, you can decide whether or not to continue with the plan of having people who know you personally invest on your business. There are also more experienced and established individuals who are used to anything and everything that needs to be done under the business sun. They can be total strangers, so you need to build that trust on the professional level.
Be confident about yourself and your concepts. On the other hand, prepare yourself for possible rejections. You will have a lot before you get lucky. Remember that communication is the key. Get the facts on the table, show your prospect the possibilities, and make him realize the vital role he will play to make everything work. Also listen to him, do not forget that you are talking to an angel. He may have some useful suggestions that will shape your plans more accurately.
Again, always listen to him. If he comes to a conclusion that you will need another guardian person to realize your ideas, follow him. Surely, he knows people who will invest. Still connect with past prospects since they may decide later than never. Leave your contact details before heading on to the next.
In the first place, you ventured into this like a soldier who is uncertain and unfamiliar with the battle place. However, rely on your business knowledge as this will be your armor as you go into the war of uncertainties. That is the nature of business so make sure you are ready either for the bigger challenges that the partnership will stumble into or the big fall that you may experience.
These angels are not those you see in movies. They are the startup investors or better known as the angel investors. They can be some people close to you or other people you meet along the way but you do not even know their names at first.
The main issue here is trust. You need people you can trust your ideas and concepts with. Hence, family and friends could be the perfect angel investors that you can truly trust. Aside from the fact that they are easy to approach, they are also reliable when it comes to finances.
There are, however, some loopholes in choosing your friends and family. It could affect your personal relationship and loyalty with one another. Unless you will make a valid and clear agreement that you will not involve personal feelings if all else fails, you could lose both the business and your bond. Money can be blamed for situations of conflicts so beware.
If you are confident that you can get through with all the challenges together without involving your personal and family relationship or friendship, remind yourself that out of ten startups, only one becomes a success. Hang on to this principle so that you will understand one another and retain your personal relationships even if it fails. This is a must.
With this, you can decide whether or not to continue with the plan of having people who know you personally invest on your business. There are also more experienced and established individuals who are used to anything and everything that needs to be done under the business sun. They can be total strangers, so you need to build that trust on the professional level.
Be confident about yourself and your concepts. On the other hand, prepare yourself for possible rejections. You will have a lot before you get lucky. Remember that communication is the key. Get the facts on the table, show your prospect the possibilities, and make him realize the vital role he will play to make everything work. Also listen to him, do not forget that you are talking to an angel. He may have some useful suggestions that will shape your plans more accurately.
Again, always listen to him. If he comes to a conclusion that you will need another guardian person to realize your ideas, follow him. Surely, he knows people who will invest. Still connect with past prospects since they may decide later than never. Leave your contact details before heading on to the next.
In the first place, you ventured into this like a soldier who is uncertain and unfamiliar with the battle place. However, rely on your business knowledge as this will be your armor as you go into the war of uncertainties. That is the nature of business so make sure you are ready either for the bigger challenges that the partnership will stumble into or the big fall that you may experience.
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