Mon, 8 November 2021
Why You Should Move Your Angel Group Online
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
As the world moves online, so you should move your angel network online as well.
This includes your screening process, presentation meetings, diligence process, and education sessions.
The screening process can be made more efficient by capturing 1-3 minute pitch videos from those applying to pitch to your group.
These videos can be viewed individually or as a group, such as your screening committee.
Investor members can join an online meeting to discuss and vote, or they could vote individually.
You can source deals from a wider network as you’re no longer limited to those in your geographic area.
Move your presentation online so more members can access them live or by recording.
Investors can use online tools for formulating their questions.
The online format can also facilitate investors sharing their thoughts, concerns, and questions about the deals with other investors in the group.
For diligence, you can use tools such as a Slack channel for your group to share information and follow the diligence process.
Through Slack, you can capture questions and feedback. You can create a separate channel for communications with the startup raising funding.
Online tools can help run a standardized process for diligence.
Use recorded calls to capture the results and make them available to others.
Online tools can facilitate education courses about angel investing you can provide your members.
You can create a library of content for your members, both present and future. An online education format lets you source content from other groups.
Online meetings can augment your group rather than replace the physical meetings entirely. Social and networking events can continue for members to meet each other.
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