Fri, 8 July 2022
How to Recruit Members
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In running an angel group, it’s important to recruit new members.
The first step is to showcase the deals you have to prospective investors to see if they find them interesting.
You can send them recently-funded deals so the prospective investor can see the types of deals your group offers.
You can give them access to all deals for a period of time and then see if they want to join.
The best way to find new investors for your group is to network through the current investors.
Have the current members bring friends and colleagues to the presentation meetings and invite them to invest in deals the members are funding.
Provide the returns for the group to show the track record.
It helps to have a fund that investors can join for those who don’t have the time to review specific deals.
For every four investors who want to participate, three will join the fund, and one will join the group.
Set up a syndicate that takes care of the diligence and makes it easy for investors to join the deals.
Make clear the goal and mission of the group to the prospective investors as the why is stronger than the return in gaining new members.
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