For the majority of businesses a business angel is seen as one of the Dragons from BBC’s ‘Dragons Den‘. In reality a business angel is something much different.
Most business owners who are looking for an angel fall into one of a few categories;
- My business needs cash now
- My business has a chance to expand
- My business can’t borrow any more
The issue here is that business angels will only want to work with a business that has raised as much capital as it can and is at a stage where investment will take it to the next level.
For business angels, the business needs to offer the opportunity for real scaleable growth. With this in mind a business angel is no substitute for standard debt finance.
For businesses that have a genuine case to put to a business angel then the key thing is to find the right introduction point and get your proposal spot on.
What An Angel Wants, What He Really Really Wants
Zig a zig ah… Apologies and back to the topic. We will always talk our clients through getting their proposal right, in essence there a few essential;
- On one side of A4 summarise the business proposal, USP and the offer
- In under 50 words, summarise what is in it for the business angel
At this stage avoid talking about specifics, company structures, processes or minutae information. Keep it in summary format and keep it focused.
London Business Angels
Why London? This is probably the place to start as there are generally more angels based here than elsewhere in the UK.
If you look for London business angels then you will likely be steered toward the right angel for you.
Finding Business Angels
The key challenge. Our suggestion is to look for someone who has the right contacts rather than seek an angel direct. This is generally easier and creates a greater chance of success.
If you want to find an angel for your business then we would suggest contacting us with your idea as it stands now. Let us guide you through perfecting the proposal and getting to the right business angel.
Feel free to contact us on 01293 541333, contact us via the website, or add your comments above and we will contact you.