Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Ask HN: How and when to pitch an angel?

news.ycombinator.com

Post reply on HN
Print view View original

11–16 of 16 posts

Re: Ask HN: How and when to pitch an angel?

#11

Post by joshu »

paulsingh wrote: post #7

I recently closed some money with angels and your results will surely vary (so take all of this this with a grain of salt): * It's never too early to pitch an angel. IMHO, angels are generally comfortable investing before you have real traction - smart angels have told me that they invest in people, not ideas. So, the takeaway is that you want to start talking to angels early - let them know what you're up to and, if…

This is great advice, and covers a great deal of what I look for when I am acting as angel.

Personally, I am looking for:

- A solid idea and initial implementation; you can't tell how good an idea will be until it is embodied. I don't want to even talk to two MBAs with a powerpoint deck. I'd much rather see a hacker and a codebase.

- A team I would consider actually working with or for. If they are hard to get along with now, it will be worse later (this is true in the opposite direction as well.)

- Business plans and TAM and all that crap? Forget it. I want product vision and an ability to roll with the punches. Business plans end up on the floor and TAM is just wishful thinking.

There's also a bunch of things I look for in the products, but I guess that's more investing philosophy.

Re: Ask HN: How and when to pitch an angel?

#12

Post by aditya »

joshu wrote: post #11
paulsingh wrote: post #7

I recently closed some money with angels and your results will surely vary (so take all of this this with a grain of salt): * It's never too early to pitch an angel. IMHO, angels are generally comfortable investing before you have real traction - smart angels have told me that they invest in people, not ideas. So, the takeaway is that you want to start talking to angels early - let them know what you're up to and, if…

This is great advice, and covers a great deal of what I look for when I am acting as angel. Personally, I am looking for: - A solid idea and initial implementation; you can't tell how good an idea will be until it is embodied. I don't want to even talk to two MBAs with a powerpoint deck. I'd much rather see a hacker and a codebase. - A team I would consider actually working with or for. If they are hard to get along…

Are you looking to invest in more east coast based startups, Josh? :-)

Re: Ask HN: How and when to pitch an angel?

#13

Post by aditya »

paulsingh wrote: post #7

I recently closed some money with angels and your results will surely vary (so take all of this this with a grain of salt): * It's never too early to pitch an angel. IMHO, angels are generally comfortable investing before you have real traction - smart angels have told me that they invest in people, not ideas. So, the takeaway is that you want to start talking to angels early - let them know what you're up to and, if…

Thanks Paul, this was super helpful. Your email isn't in your profile, but if you drop me a note, I'd love to pick your brain a little bit: aditya at sublucid dot com

Re: Ask HN: How and when to pitch an angel?

#14

Post by aditya »

pg wrote: post #6

When (a) you're ready for the distraction of fund-raising, and (b) you think an intelligent person would be convinced by what you have so far. You don't usually need a formal deck. Ask the investor.

(b) you think an intelligent person would be convinced by what you have so far.

Convinced of what? That they're making a worthwhile investment? How do you know when you've hit that point where you're ready to ask someone for money? Is this further down the road from making something people want?

Re: Ask HN: How and when to pitch an angel?

#15

Post by joshu »

aditya wrote: post #12
joshu wrote: post #11

Earlier quoted context omitted.

This is great advice, and covers a great deal of what I look for when I am acting as angel. Personally, I am looking for: - A solid idea and initial implementation; you can't tell how good an idea will be until it is embodied. I don't want to even talk to two MBAs with a powerpoint deck. I'd much rather see a hacker and a codebase. - A team I would consider actually working with or for. If they are hard to get along…

Are you looking to invest in more east coast based startups, Josh? :-)

Joshua.

Mostly west coast...

Re: Ask HN: How and when to pitch an angel?

#16

Post by Arun2009 »

I recently left my full time job to concentrate on developing a prototype application for my idea. What I intend to do is to complete a kick ass prototype and website, run it by a few potential customers, and THEN scout for angels if there's a need for it. My principle is that if you're a half-decent programmer, then your prototype should be your pitch. More than a way to get rich, I am treating it as an acid test of how good a developer I am.
Post reply on HN