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.
On the contrary, there could also be disadvantages on the professional aspects. If the startup is not successful, they could have personal issues with you or you with them. It is difficult to separate personal and professional aspects in this case because no matter how much you try to avoid financial issues against each other, your personal relationship will still be scarred, one way or another.
If you are certain that they should be the ones you will share your failures and successes with, by all means you can. But make it a point that you discuss possibilities. After all, there are successful businesses established and grown by siblings, friends, and relatives. Clearly, they have understood that there will always be failures in startups.
Now that you know all this, you may want to withdraw from the plan of making the people that matter to you as your investors. There is another way, but it is rough and tough. You can get an established businessman and have him listen to your proposal.
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.
On the contrary, there could also be disadvantages on the professional aspects. If the startup is not successful, they could have personal issues with you or you with them. It is difficult to separate personal and professional aspects in this case because no matter how much you try to avoid financial issues against each other, your personal relationship will still be scarred, one way or another.
If you are certain that they should be the ones you will share your failures and successes with, by all means you can. But make it a point that you discuss possibilities. After all, there are successful businesses established and grown by siblings, friends, and relatives. Clearly, they have understood that there will always be failures in startups.
Now that you know all this, you may want to withdraw from the plan of making the people that matter to you as your investors. There is another way, but it is rough and tough. You can get an established businessman and have him listen to your proposal.
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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