Guy Kawasaki moderated a panel of angel investors to discuss what they look for in investments, how they evaluate deals, and how best to approach them. The panel included Andy Bechtolsheim, co-founder of Sun Microsystems, Ron Conway, the "godfather of silicon valley," and Dr. Ian Sobieski, founder of the Band of Angels.
Key takeaways from the discussion:
- You can’t reach these angels by sending them an email out of the blue.
- They want to read a one-page executive summary and not much more.
- They decide whether they like a company in the first thirty seconds— think HotorNot, not eHarmony.
- They don’t rely upon business plans for due diligence.
- They seldom serve on boards or do "heavy lifting" for a company.
Here’s the video: