What Every Angel Investor Wants You to Know: An Insider Reveals How to Get Smart Funding for Your Billion Dollar Idea: An Insider Reveals How to Get Smart Funding for Your Billion-Dollar Idea

## WHAT IF YOU HAD AN ANGEL ON YOUR SIDE? __"Terrific advice from a master of the angel investing game. Brian Cohen reveals the art and craft of raising angel money. An investment in this book will payoff a thousandfold."__ — DR. HOWARD MORGAN, founder andpartner at First Round CapitalWhen you connect with the right angel investor, it's like finding a new best friend—you just have to know what makes him or her happy.Smart funding is waiting for smart founders. Raising funds is all about connecting with the investor who's right for you—and __What Every Angel Investor Wants You to Know__ shows you exactly how to succeed.Veteran early-stage investor Brian Cohen knows how to spot a great company destined for success, and in this groundbreaking book he offers soup-to-nuts guidance for anyentrepreneur seeking to launch an invention, a product, or a great new idea into a receptive marketplace.As chairman of the board of directors of the New... Provides guidance for professionals seeking to launch their inventions, products and ideas into a receptive marketplace. WHAT IF YOU HAD AN ANGEL ON YOUR SIDE? "Terrific advice from a master of the angel investing game. Brian Cohen reveals the art and craft of raising angel money. An investment in this book will payoff a thousandfold." -- DR. HOWARD MORGAN, founder andpartner at First Round Capital When you connect with the right angel investor, it's like finding a new best friend--you just have to know what makes him or her happy. Smart funding is waiting for smart founders. Raising funds is all about connecting with the investor who's right for you--and What Every Angel Investor Wants You to Know shows you exactly how to succeed. Veteran early-stage investor Brian Cohen knows how to spot a great company destined for success, and in this groundbreaking book he offers soup-to-nuts guidance for anyentrepreneur seeking to launch an invention, a product, or a great new idea into a receptive marketplace. As chairman of the board of directors of the New York Angels, Cohen is one of the most engaged angel investors out there today. The first investor in Pinterest, he describes exactly what angels want to see, hear, and feelbefore they take out their checkbooks: A clear exit strategy before the startup even launches Facts that turn "due" diligence into "do" diligence Authenticity--"save your spinning for the fitness center" Proof that you "live inside the customer's head" Cohen gives invaluable insight into how the most successful angels view due diligence, friends and family money, crowdfunding, team building, scalability, iteration, exit strategies--and much more. This one-of-a-kind book provides a rare look inside the minds of people who are in the business of funding businesses just like yours. Read What Every Angel Investor Wants You to Know to get your best shot at funding for your product after your very first pitch. PRAISE FOR WHAT EVERY ANGEL INVESTOR WANTS YOU TO KNOW : "Brian Cohen is truly the entrepreneur's best friend. Cohen and Kador haven distilled their first-hand experiences into an intensely personal, highly readablejourney into the mind of angels that should be kept at the bedside of every startup CEO." -- DAVID S. ROSE, founder, New York Angels, and CEO, Gust "Meet one of the fundamental building blocks of the entrepreneurial scene. In one easy-to-read package, readers now have the wisdom of Brian Cohen, perhaps themost well-connected investor/entrepreneur in New York." -- MURAT AKTIHANOGLU, founder and managing director, Entrepreneurs Roundtable Accelerator " What Every Angel Investor Wants You to Know gives you an actionable checklist for success in fund-raising and entrepreneurship. Cohen and Kador provide anexhilarating ride for those who want to pilot their own business." -- REED HOLDEN, serial entrepreneur and author of Negotiating with Backbone "Personal insights from a seasoned angel investor. An important addition to the reading list for today's entrepreneurs." -- SCOTT CASE, CEO, Startup America Partnership " What Every Angel Investor Wants You to Know is a must-read for entrepreneurs and investors who want to fi nance startup dreams--an accessible, jargon-free,practical primer." -- WHITNEY JOHNSON, author of Dare, Dream, Do: Remarkable Things Happen When You Dare to Dream and cofounder, Rose Park Advisors WHAT IF YOU HAD AN ANGEL ON YOUR SIDE? "Terrific advice from a master of the angel investing game. Brian Cohen reveals the art and craft of raising angel money. An investment in this book will payoff a thousandfold." -- DR. HOWARD MORGAN, founder andpartner at First Round Capital When you connect with the right angel investor, it's like finding a new best friend--you just have to know what makes him or her happy. Smart funding is waiting for smart founders. Raising funds is all about connecting with the investor who's right for you--and What Every Angel Investor Wants You to Know shows you exactly how to succeed. Veteran early-stage investor Brian Cohen knows how to spot a great company destined for success, and in this groundbreaking book he offers soup-to-nuts guidance for anyentrepreneur seeking to launch an invention, a product, or a great new idea into a receptive marketplace. As chairman of the board of directors of the New York Angels, Cohen is one of the most engaged angel investors out there today. The first investor in Pinterest, he describes exactly what angels want to see, hear, and feelbefore they take out their checkbooks: A clear exit strategy before the startup even launches Facts that turn "due" diligence into "do" diligence Authenticity--"save your spinning for the fitness center" Proof that you "live inside the customer's head" Cohen gives invaluable insight into how the most successful angels view due diligence, friends and family money, crowdfunding, team building, scalability, iteration, exit strategies--and much more. This one-of-a-kind book provides a rare look inside the minds of people who are in the business of funding businesses just like yours. Read What Every Angel Investor Wants You to Know to get your best shot at funding for your product after your very first pitch. PRAISE FOR WHAT EVERY ANGEL INVESTOR WANTS YOU TO KNOW : "Brian Cohen is truly the entrepreneur's best friend. Cohen and Kador haven distilled their first-hand experiences into an intensely personal, highly readablejourney into the mind of angels that should be kept at the bedside of every startup CEO." -- DAVID S. ROSE, founder, New York Angels, and CEO, Gust "Meet one of the fundamental building blocks of the entrepreneurial scene. In one easy-to-read package, readers now have the wisdom of Brian Cohen, perhaps themost well-connected investor/entrepreneur in New York." -- MURAT AKTIHANOGLU, founder and managing director, Entrepreneurs Roundtable Accelerator " What Every Angel Investor Wants You to Know gives you an actionable checklist for success in fund-raising and entrepreneurship. Cohen and Kador provide anexhilarating ride for those who want to pilot their own business." -- REED HOLDEN, serial entrepreneur and author of Negotiating with Backbone "Personal insights from a seasoned angel investor. An important addition to the reading list for today's entrepreneurs." -- SCOTT CASE, CEO, Startup America Partnership " What Every Angel Investor Wants You to Know is a must-read for entrepreneurs and investors who want to fi nance startup dreams--an accessible, jargon-free,practical primer." -- WHITNEY JOHNSON, author of Dare, Dream, Do: Remarkable Things Happen When You Dare to Dream and cofounder, Rose Park Advisors

WHAT IF YOU HAD AN ANGEL ON YOUR SIDE?

"Terrific advice from a master of the angel investing game. Brian Cohen reveals the art and craft of raising angel money. An investment in this book will pay

off a thousandfold." — DR. HOWARD MORGAN, founder and

partner at First Round Capital

When you connect with the right angel investor, it's like finding a new best friend—you just have to know what makes him or her happy.

Smart funding is waiting for smart founders. Raising funds is all about connecting with the investor who's right for you—and What Every Angel Investor Wants You to Know shows you exactly how to succeed.

Veteran early-stage investor Brian Cohen knows how to spot a great company destined for success, and in this groundbreaking book he offers soup-to-nuts guidance for any

entrepreneur seeking to launch an invention, a product, or a great new idea into a receptive marketplace.

As chairman of the board of directors of the New York Angels, Cohen is one of the most engaged angel investors out there today. The first investor in Pinterest, he describes exactly what angels want to see, hear, and feel

before they take out their checkbooks:

• A clear exit strategy before the startup even launches
• Facts that turn "due" diligence into "do" diligence
• Authenticity—"save your spinning for the fitness center"
• Proof that you "live inside the customer's head"

Cohen gives invaluable insight into how the most successful angels view due diligence, friends and family money, crowdfunding, team building, scalability, iteration, exit strategies—and much more.

This one-of-a-kind book provides a rare look inside the minds of people who are in the business of funding businesses just like yours.

Read What Every Angel Investor Wants You to Know to get your best shot at funding for your product after your very first pitch.

PRAISE FOR WHAT EVERY ANGEL INVESTOR WANTS YOU TO KNOW:

"Brian Cohen is truly the entrepreneur's best friend. Cohen and Kador haven distilled their first-hand experiences into an intensely personal, highly readable

journey into the mind of angels that should be kept at the bedside of every startup CEO." — DAVID S. ROSE, founder, New York Angels, and CEO, Gust

"Meet one of the fundamental building blocks of the entrepreneurial scene. In one easy-to-read package, readers now have the wisdom of Brian Cohen, perhaps the

most well-connected investor/entrepreneur in New York." — MURAT AKTIHANOGLU, founder and managing director, Entrepreneurs Roundtable Accelerator

"What Every Angel Investor Wants You to Know gives you an actionable checklist for success in fund-raising and entrepreneurship. Cohen and Kador provide an

exhilarating ride for those who want to pilot their own business." — REED HOLDEN, serial entrepreneur and author of Negotiating with Backbone

"Personal insights from a seasoned angel investor. An important addition to the reading list for today's entrepreneurs." — SCOTT CASE, CEO, Startup America Partnership

"What Every Angel Investor Wants You to Know is a must-read for entrepreneurs and investors who want to fi nance startup dreams—an accessible, jargon-free,

practical primer." — WHITNEY JOHNSON, author of Dare, Dream, Do: Remarkable Things Happen When You Dare to Dream and cofounder, Rose Park Advisors

WHAT IF YOU HAD AN ANGEL ON YOUR SIDE? Terrific advice from a master of the angel investing game. Brian Cohen reveals the art and craft of raising angel money. An investment in this book will pay off a thousandfold. -- DR. HOWARD MORGAN, founder and partner at First Round Capital When you connect with the right angel investor, it's like finding a new best friend--you just have to know what makes him or her happy. Smart funding is waiting for smart founders. Raising funds is all about connecting with the investor who's right for you--and What Every Angel Investor Wants You to Know shows you exactly how to succeed. Veteran early-stage investor Brian Cohen knows how to spot a great company destined for success, and in this groundbreaking book he offers soup-to-nuts guidance for any entrepreneur seeking to launch an invention, a product, or a great new idea into a receptive marketplace. As chairman of the board of directors of the New York Angels, Cohen is one of the most engaged angel investors out there today. The first investor in Pinterest, he describes exactly what angels want to see, hear, and feel before they take out their checkbooks: A clear exit strategy before the startup even launches Facts that turn due diligence into do diligence Authenticity--save your spinning for the fitness center Proof that you live inside the customer's head Cohen gives invaluable insight into how the most successful angels view due diligence, friends and family money, crowdfunding, team building, scalability, iteration, exit strategies--and much more. This one-of-a-kind book provides a rare look inside the minds of people who are in the business of funding businesses just like yours. Read What Every Angel Investor Wants You to Know to get your best shot at funding for your product after your very first pitch. PRAISE FOR WHAT EVERY ANGEL INVESTOR WANTS YOU TO KNOW : Brian Cohen is truly the entrepreneur's best friend. Cohen and Kador haven distilled their first-hand experiences into an intensely personal, highly readable journey into the mind of angels that should be kept at the bedside of every startup CEO. -- DAVID S. ROSE, founder, New York Angels, and CEO, Gust Meet one of the fundamental building blocks of the entrepreneurial scene. In one easy-to-read package, readers now have the wisdom of Brian Cohen, perhaps the most well-connected investor/entrepreneur in New York. -- MURAT AKTIHANOGLU, founder and managing director, Entrepreneurs Roundtable Accelerator What Every Angel Investor Wants You to Know gives you an actionable checklist for success in fund-raising and entrepreneurship. Cohen and Kador provide an exhilarating ride for those who want to pilot their own business. -- REED HOLDEN, serial entrepreneur and author of Negotiating with Backbone Personal insights from a seasoned angel investor. An important addition to the reading list for today's entrepreneurs. -- SCOTT CASE, CEO, Startup America Partnership What Every Angel Investor Wants You to Know is a must-read for entrepreneurs and investors who want to fi nance startup dreams--an accessible, jargon-free, practical primer. -- WHITNEY JOHNSON, author of Dare, Dream, Do: Remarkable Things Happen When You Dare to Dream and cofounder, Rose Park Advisors "While [this] book is anecdotal, [the authors] discuss in depth how angels view a potential investment as well as how they evaluate its prospects. This is the book's strength. Recommended. All levels of students, entrepreneurs, practitioners." -- CHOICE MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict MuPDF error: syntax error: invalid key in dict Cover 1 Title Page 2 Copyright Page 3 Contents 6 Foreword 8 Introduction 10 1 Angel Investing Is a Contact Sport 22 2 Early Stage Investing and Why Angels Are Your New Best Friend 34 3 Let’s Get to Know Each Other 48 4 What I’m Looking for in an Entrepreneur 68 5 What I Look for in the Pitch 90 6 Every Business Starts with a Belief 110 7 Investor Raising vs. Money Raising 128 8 Don’t Hurt the Ones Who Love You 138 9 Going Belly to Belly with Your Customer 146 10 Due Diligence and Do Diligence 154 11 Accelerators, Incubators, and Crowdfunding 164 12 It’s All About Teammanship 176 13 Getting to No Is Just as Important as Getting to Yes 188 14 Iterating the Startup 194 15 Baking in the Exit from the Beginning 202 A: Due Diligence Checklist 212 B: The New York Angels Term Sheet 218 C: Five Indispensable Tools Founders Can Use to Do Due Diligence on Angels 222 D: Own Your Venture Equity Simulator 232 Acknowledgments 234 Index 236 A 236 B 237 C 237 D 238 E 239 F 240 G 241 H 241 I 241 J 243 K 243 L 243 M 243 N 244 O 244 P 244 Q 245 R 246 S 246 T 248 U 248 V 248 W 249 Y 249 Z 249 "When you connect with the right angel investor, it's like finding a new best friend--you just have to know what makes him or her happy. Smart funding is waiting for smart founders. Raising funds is all about connecting with the investor who's right for you--and What Every Angel Investor Wants You to Know shows you exactly how to succeed. Veteran early-stage investor Brian Cohen knows how to spot a great company destined for success, and in this groundbreaking book he offers soup-to-nuts guidance for any entrepreneur seeking to launch an invention, a product, or a great new idea into a receptive marketplace. As chairman of the board of directors of the New York Angels, Cohen is one of the most engaged angel investors out there today. The first investor in Pinterest, he describes exactly what angels want to see, hear, and feel before they take out their checkbooks: A clear exit strategy before the startup even launches ; facts that turn "due" diligence into "do" diligence; authenticity--"save your spinning for the fitness center"; [and] proof that you "live inside the customer's head." Cohen gives invaluable insight into how the most successful angels view due diligence, friends and family money, crowdfunding, team building, scalability, iteration, exit strategies--and much more."--Publisher's description