@Geeknrolla: Finding a business angel is like finding an invisible man – Nick from Fav.or.it

Send me an Angel – Funding and How to Handle Angels

Nick says: Finding an angel is like finding an invisible man – they don’t tend to broadcast their presence but they network to find likely opportunities, and they also know each other. They’ll group together by region so they can do larger investments as well. There are plenty of companies out there who say they can get you into networks, and will charge you a percentage fee of any money you raise – which can mean a 10% hit to your funds before you even spend anything. Steer clear of anyone who promises an instant solution of raising money – get out there and go to the events. Blog, get on Twitter, do whatever else you need to do for people to find you.

Key things to remember:

  • Build a plan of how to find your angel
  • Get on with your angel
  • Valuation is what you make it
  • Get a good lawyer

BIO: Nick Halstead is the CEO & Founder favorit Ltd, which runs http://fav.or.it, http://www.tweetmeme.com and http://www.feedbroker.net. Fav.or.it at launch generated a frenzy of tech-media coverage for its approach to bringing a more mainstream view of the social web to consumers and to businesses. Nick has been in development for over 15 years running multi-million budget projects for some of the biggest development studios in the UK. An active participant in the London Tech scene who likes to evangelise the use of Twitter, data portability and the use of the social web for businesses.