The Music Tech Startup’s Guide To “Winning AngelList”
Seth Goldstein, co-founder of Turntable.fm and DJZ, shares his thoughts on getting started right on AngelList to draw in that investor cash. In addition to explaining how to effectively create and promote your AngelList profile, he includes an additional group of tips from AngelList's Ash Fontana.
One of the great things about AngelList is that there are many winners. Startups can find angel funding beyond their current networks and investors can get in on deals that might otherwise by inaccessible.
Seth Goldstein should know quite a bit about such things having been involved with considerable amounts of fundraising for multiple startups as well as investing in many more.
Goldstein has co-authored "The Secret of Raising Money," a book with a variety of related materials and tools to support the process. It looks quite useful and, in what is clearly an act of content marketing for the book, has inspired an excellent post on Winning AngelList.
As Goldstein says about AngelList, "We’ve used it to raise hundreds of thousands of dollars, and know many others who have raised millions."
Getting Started Properly on AngelList
1. Complete and launch your profile
2. Complete your personal profile and those of your team members
3. If you are new to the platform, follow as many people as possible
4. First impression is key
5. Populate your profile with praise from others
6. Add investors as they commit, and get them to confirm participation
7. Ask investors to share your company with their followers
8. Consider using Invest Online
9. Use tags to enhance your discoverability
10. Promote your profile
11. Reach out to inbound investors
12. Mine the networks of your current investors for further suitable investors
13. Get featured if you can
14. Get your startup to ‘trend’
15. Pay attention to the Admin panel
16. Post status updates and press mentions
17. Stay organized
Some of it does sound rather basic but Goldstein's post goes into all sorts of interesting details. Besides, when you're confronting something new and potentially confusing like AngelList, sometimes you need to be reminded of the basics.
Bonus Tip from AngelList's Ash Fontana:
"Be proactive about engaging on AngelList much like you would on Facebook or Instagram. Like things. Comment on things. That’s how you pop up in users’ news feeds, which is a major way companies are discovered."
"Remember – there are literally hundreds of thousands of profiles on AngelList. You have to put in effort in order to stand out."
- Turntable.fm Co-Founder Re-Focuses On DJZ EDM Hub, Raises $1 Million
- Turntable.fm's Seth Goldstein On Monetizing Music Discovery & User Engagement
Hypebot Senior Contributor Clyde Smith (@fluxresearch) posts music crowdfunding news @CrowdfundingM. To suggest topics about music tech, DIY music biz or music marketing for Hypebot, contact: clyde(at)fluxresearch(dot)com.