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The Angel Honey Pot Continues to Grow

Rich Sloan

Rich Sloan is chief startupologist and co-founder of StartupNation and host of StartupNation podcasts. He is also co-author of the acclaimed how-to book, StartupNation: America's Leading Entrepreneurial Experts Reveal the Secrets to Building a Blockbuster Business. Rich encourages you to make a comment under his blog posts or send him a personal message at member nickname, "Rich," here at StartupNation.

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According to the 2006 Angel Market Analysis released today by the Center for Venture Research at the University of New Hampshire, the angel investor market experienced steady growth in 2006, with total investments of $25.6 billion, an increase of 10.8 percent over 2005.

This is an irrefutable statement about the fact that the money is out there, folks! You just have to have:

1) a great opportunity
2) access to these angels
3) the ability to effectively communicate why your opportunity is so great
4) the right people to bring the opportunity home!

Regarding #2, remember… angels are “pack animals” – they like to invest together and often are too timid or busy to invest alone. We were asked at a recent Club Entrepreneur speech where startups can find angels. Our advice is: call your accountant and attorney and ask for intros to their other wealthy clients, hobnob at the club, network at Chamber events and networking groups like Club Entrepreneur, and always ask for referrals from any angels you meet – even if they say “no” to your deal. Lastly, call up people who run successful companies that were likely backed by angels. They may kindly give you access to their Rolodex.

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