You're Entertainment

When getting angel investment money, remember you’re dealing with discretionary dollars.  Don’t worry about the angel’s kid’s college fund, the 2nd house, 3rd car, 4th wife, 5th mistress.  That’s money you’ll never see.  What you’ll get will be the money that’s left over, the money for the cruise, or the casino.  This means you have to be at least as entertaining as the story that money would buy. Thus communicate with your investors all the time.  Tell them the highs and the lows of your business.  Give them the vicarious experience of you staying up late at night on the phone with someone on the other side of the world. Or the story of you waking up at 5 am to make the 7 am flight for the 9am meeting.  Tell them about your struggles as you have to fire your best friend who joined up with you, but is no longer the right person for that role.  Keep them informed of what’s happening to their money, and you’ll be amazed as how much good will you will create.