Nine Types of Angel Investors
There are many types of angel investors.
Here are nine types commonly seen in the startup community:
1. Networkers — they know a great number of people and can make introductions to them. They are helpful in finding more investors as well as team members for the startup.
2. Product-oriented — they worked in a company managing a product line and can provide feedback on the product you are building.
3. Finance oriented — they have a finance background and get involved in the details of revenue recognition, forecasts, and other aspects of the accounts.
4. Domain knowledge — these people work in the startup’s industry and provide guidance on the current trends, and can make introductions to key people.
5. Marketing oriented — they have a marketing background and can provide feedback on the branding, positioning, and marketing of the startup.
6. Big names — these are people who have a big name in town but don’t necessarily know much about the business you may be running. They can help attract additional investors to your business.
7. Operators — these are people who run businesses and can advise on who to hire, how to implement projects and negotiate contracts.
8. Challenger — these people challenge you in board meetings and put questions to you to consider. This can be helpful in making sure you’re thinking about everything that needs to be done.
9. The rest — these are investors who helped fill out the round but don’t have any relevant skills to bring to your startup. It’s okay that they joined the team, just don’t demand too much of them.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.