What’s one tip for making the most of a profile on AngelList?
The following answers are provided by members of Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
1. Lock in Your Endorsement Commitments
Sure, your investors may have given you a verbal promise that they would be there for you from the start — but it’s best to nail down those opportunities before they fall through the cracks. Your investors are important, busy people and you need to take that into consideration before it’s too late. Establish a dialogue with them to firm them up for their commitment early on.
2. Categorize Your Business Markets
3. Regularly Post News
Keep your company’s profile up-to-date by regularly posting your company news on AngelList. When something big is happening at your startup, like a partnership or collaboration, and you get some press, make sure that beyond Twitter and Facebook you also include a post about it on AngelList.
4. Include Your Investor Deck
If you’re raising money on AngelList, please don’t forget to include your investor deck. While I can appreciate only wanting to expose such a document to qualified investors, having it readily available to those that might be interested during their first impression of your startup is crucial. There are far too many other startups out there to not win investors over the first time around.
5. Set Aside Time for the Site
No matter what platform you’re building a presence on, set aside some time each week to focus on just that site. I’ve done so on AngelList, using that time to make connections, post news and even just look at what other companies are doing on their profiles. It’s made an incredible difference in the quality of connections we’ve made there.
6. Have a Stellar Pitch
7. Stay Active
It’s just like anything else, the more you put into it the more you’ll get out of it. Put time into AngelList and it’ll give back. I’ve gotten several clients and found several companies to invest in using the site. Connect with others, get references and mark everything you’ve invested in. Stay active on there!
8. Build up your followers
On AngelList, having more followers equates to credibility. It gives the appearance that you have momentum, which is always a critical thing for a startup to have. Asking other startups to follow yours is a great way to kickstart this.
9. Show Your Talent, Growth and Product
We’ve found that some of our best talent comes through job postings on AngelList. With that in mind, we look to communicate three things — a fun and talented team to work with, explosive growth and an exciting product opportunity. All of which help on the investment side as well.
10. Gain Endorsements
Get endorsements. I know it’s just another site you need to ask your colleagues, former employers, vendors and suppliers to endorse you on, but ask yourself if it’s any less important than LinkedIn. Investors are looking for social proof. They need to see a track record. Answer the questions they have in their mind before they have a chance to ask.