Our partner CyberForum e.V. organized the Business Angel Day in Karlsruhe with us today, where angel investors and capital-seeking founders meet and socialize. But what are Business Angels in the first place and what value can they provide startup teams?
Whoever dares to take the step of starting their own business from a business idea often has to rely on supporters and advocates. Especially in the search for capital, one has to convince investors of the idea and business model. But how to convince major investors and multipliers of the idea?
The most important step: The potential investor needs to get to know about the idea; the founders must introduce him to their business concept. In a very brief time, the investor should understand the idea and realize the market potential. This presentation situation is known as “Elevator Pitch”: In two minutes, at the most, the prospective entrepreneurs present their business idea, waking the potential investors’ appetite for a promising investment. Here, the decisive factor is the first impression that the entrepreneur leaves with the investor. In this important moment, the founder must succeed in selling his business idea and himself as good as possible and make the investor curious. If you believe the elevator pitch, the chances for an invitation to a follow-up meeting are not bad at all. In an in-depth discussion, the comprehensive business plan can then be submitted and the business idea discussed in detail. A well-prepared pitch is therefore the “entry ticket” to key contacts and opportunities for further development.
Starting your own business is always accompanied by a certain risk. Questions arise, such as: Can my business compete on the market? How to finance business expansion? Where do I get the necessary capital from? What do I do if my startup fails? For these reflections, the “Lean Startup” approach can help. It is now one of the common terms of the startup scene and is considered resource friendly and success oriented. But what is behind the now popular term and where does it come from?