Two entrepreneurs compare their grillings…
Gordon: Angels asked me about my vision and passion. They wanted to know if I was in it for the long haul or just a quick buck.
Edward: Yeah, well, angels are the fairy godmothers of the startup world. They sprinkle their magic dust and hope you turn into Cinderella.
Gordon: How did your pitch go with the VCs?
Edward: More like dragons. It was a fiery session. You know it how it goes. VCs are all about the numbers. Market size, growth potential, and scalability. They wanted to know if I could turn their million into ten.
Gordon: Typical. Angels are more personal. They asked about my background, my story. They wanted to know who I was as a person.
Edward: VCs couldn't care less about my life story. They’re laser-focused on the business model. How do you plan to monetize? What's your revenue stream?
Gordon: There was curiosity about my team. They wanted to know if I had the right people to execute the vision.
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Voice-over
Further differences between the angel investors and the venture capitalists emerge. Gordon says that the angels offered advice and mentorship, they were flexible, were willing to adapt. Edward said the VCs were obsessed with data analysis such as marketing metrics, exit strategies such as IPO, acquisition, merger, demanded strict terms and conditions, rapid growth.
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