Angel: How to Invest in Technology Startups-Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000

Who’s got the biggest mouth in Silicon Valley? Jason Calacanis. A well known investor who has struck it lucky on a number of brilliant deals, he’s forged a career in finding and backing some of the most passionate founders on the planet. As his book outlines though you really do create your own luck. You need to be in the right place for starters. The brief chapter 5 of the book clearly articulates this. Be in the valley as an investor or don’t expect to hit the big wins. If you’re an entrepreneur wanting to catch the eye of someone like Jason, then get off your arse and build something. Burn the candle at both ends. Pour in that sweat equity. He’s looking for founders who do, rather than talk about doing. Not everything as an Angel goes to plan. Stories of deceit, including Jay Z, show that it can be a cutthroat industry. Watch your back as you start hustling deals, cold calling founders, dining with angels, building your deal flow, and owning your future. Be promiscuous with your meetings but a prude with your cheque book. Speak little and listen lots. Your ability to gauge a founder and their chance of success should boil down to four simple questions. - What are you working on? - Why are you doing this? (is the founder focusing their life work on building a feature or something far bigger?) - Why now? (It’s not who gets their first, it’s who gets their first when the market is ready) - What’s your unfair advantage? (Are they the person best suited to make it happen?) One of the golden nuggets was the quote that you can get a long way in life by just ‘putting yourself next to those who are already winning”. Go out on a limb, get out of the comfort zone, leave the rat race, however you want to put it. Prosperity won’t search for you, you’ve got to search for it. If you want to get into angel funding then find a syndicate first, do your homework on founders, build your network, and just get in the game. Start small and learn the ropes. Just don’t bet the house on your first deal.

This book should be a manual for anyone considering being an Angel Investor, and a must read for every new Entrepreneur expecting to raise money from Angels. Not only does it help understand the mindset of the Angel you'll be pitching to, but more importantly, you'll be able to recognize a bad Angel when you see one.

Brilliant book