“If you want money, ask for advice. If you want advice, ask for money.”
This was just one of dozens of pieces of advice that I’ve collected surrounding how to reach out to potential investors. The truth is that — just as Angel investors each have their reasons for investing in you, they have their reasons for deciding to take a call (or have a coffee) with you. Your goal, then, is not to write a message that gets the particular investor to reply. It is to send a message to get a certain quorum of investors from your list to reply. This is important because as a new entrepreneur with a startup you have poured countless days and dollars into, it can easily feel personal when you do not get a reply, or the reply you want.
Now that we’ve prepared ourselves mentally, let’s talk about what investors do NOT want to see:
- Long Emails – they are just hearing from you for the first time. And remember, they get tons of emails from people like you.Remember also that 66% of emails are read on a mobile device. Keep it short and to the point. You want to let them know who you are, why they should be interested in you, and what you are hoping to get out of the email.
- You Are New – many people think that shortly after setting upon the course of creating an idea, they must start reaching out to investors. But here is the rub: there are tons of reasons not to invest in you at that point — not the least of which is that you don’t know what you don’t know. You can still reach out to investors, but if you are early on, it should be to find out how to go about the startup process.
- You Didn’t Do Your Research – if you are planning to reach out to an investor, you have to do your research and understand what this investor is interested in. Particularly among angel investors.
So what are good emails to write? I figured it would be best if I let the investors themselves pinpoint good examples.
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