Hi Folks,
- Do we push an email+teaser deck or ask for an in person meeting or a Skype meeting. What’s the best strategy. What are the pros and cons?
- What are the best teaser strategies without giving away all of the secret sauce to an angel in a email with deck. How much info is sufficient to get the next meeting.
- What is the best method to approach angels.. if we don’t have much intro’s to investors. What’s the best and least expensive approach..should the entrepreneur take the internet/linkedin route. ?
- What should an entrepreneur do in case angels investors ask for the deck even before talking to you. Let me explain: In case the angel is already invested in the similar space as yours but in one niche area, is it a good idea to share considering it is very easy and fair for the angel to ask for your business model and then reject you and go and help their already invested portfolio. Is there any threat that the angel might sniff and later pass on the secret sauce and pass off your investment after some time.
It happened last week that a very well funded startup with >$2MM plus called and asked for the business model saying that they wanted to do angel investing. Infact it could be anyone with an angel tag in front of them. eg. a guy in btw jobs. Anyone could sense, it was mostly sniffing for the business model in the pretense of some investment interest. We did not lay it out all and politely didn’t give the secret sauce…just talked high level to gage the real thing. Ofcourse you got to go with gut..as there is no scientific method.
The point… is that an idea stage entrepreneur wants an investor and also it could become a handicap before launch.
Ofcourse we know it all boils down to execution and application. Though it would help a seed stage startup to have some lead time advantage. Later post launch there will be news and inevitably market will come to know of the secret sauce when the beans are spilt. That’s still better.
It’s a chicken and egg situation.
Pls. guide. I hope I didn’t confuse you folks too much.
Thanks,
asha chaudhry
hey manas interesting q’s.
you should ping rudrajeet & abhik – check out ASK ABHIK, ASK RUDRAJEET PAGES. they would be able to guide you for sure!
ps: pls add your twitter handle at the end.
Manas Pattnaik
This is my twitter handle: @pattnaik_manasH
hey Asha, thanks for doing such an awesome job on rodinhood. you really have the passion to help. not many have…i am also guilty of the same. 🙂
if possible, pls. share rudrajeet & abhik links.
asha chaudhry
pls feel free and use the search manas! it works superbly 🙂 seriously!!
plus ASK RODINHOODERS is on the homepage 🙂
asha chaudhry
GA tells me you’re still searching 🙂
here you go!!
https://www.therodinhoods.com/forum/topics/ask-abhik-about-starting-up-idea-validation-marketing
https://www.therodinhoods.com/forum/topics/ask-rudrajeet-anything-about-starting-up
Abhik Prasad
Hi Manas,
Yes, a teaser high level idea deck is ideal for most investors who reach out to you.
Only after you speak to folks and get a second meeting is when you should start sharing more details.
The reason why most folks ask for an initial deck is so that they can get some context before talking to you…If somebody wants a detailed business plan before the first call its usually a red flag.
cheers
Manas Pattnaik
Thanks Abhik. What’s the ideal deck from a sector agnostic point.
Alok Rodinhood Kejriwal
I would just send a paragraph of a mail with the core idea explained and asking for a meeting after mentioning the founders.
Will share a mail template (real) soon 🙂 (Waiting for it to convert into a win)
Manas Pattnaik
This will be awesome…coming from the master
Abhik Prasad
I don’t know why I missed replying to this.
In the pitch deck, first focus on the problem and outline the market scope along with a high level overview of your solution.
If the investor can identify with the problem, chances are better that they will get back to you.
If they don’t like the problem, they probably won’t like your solution too much either.
Manas Pattnaik
Makes sense Abhik.