**Raising Funds: It's a People Business**
Every day, I receive an email or two asking me to angel invest. If an opportunity sounds even remotely interesting, I usually respond with one filtering question: "Why me?"
I've been doing this almost daily for the last 10 years since my first angel investment.
You'd be surprised how many startups pitching me as their "smart money" actually have an answer to this question—almost none.
When founders are in the early stages of their company and need it to survive, they tend to switch to scarcity mode, especially in the current market. There's not enough money; they need it all, they need it fast, and they forget that they'll be with those investors for the long run.
If I could give one piece of advice to founders of early-stage companies, it would be this: pitch fewer angels, but pitch them smartly. Have a clear answer for yourself about why them and how they fit into your story.
In the last 20 years that I’ve been in the game of "getting cash," I’ve learned that there's always money available. You just need to stop panicking and start dreaming. Look around and make an educated guess. If those people don’t have anything to invest in you, they might know other great people who will. Just tell them what characteristics you are looking for.
Raising your angel round, as well as any other round, is a people business. So, choose your "partners" wisely.
A great way to get an intro into the world of venture investing with the brilliant Nancy Hayes!