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The Brooklyn Startup Bringing Eyewear Manufacturing Back To America
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Alicia Syrett of Pantegrion Capital
“It’s very hard today to raise money on an idea alone.”
That’s one snippet of truth you don’t want to hear as an entrepreneur with a limited budget. But heeding this advice from angel investor Alicia Syrett will greatly improve your chances of success when it comes time to raise money for your startup.
Syrett is a seasoned entrepreneur-turned-investor with an impressive track record. You may have seen her on CNBC’s Power Pitch or MSNBC’s Your Business, where she reviews rapid-fire pitches and coaches small business owners. Syrett has invested in more than 50 early-stage companies, she’s the founder and CEO of seed investment firm Pantegrion Capital, and she also serves as a board member for New York Angels. Prior to becoming a full-time angel investor, she earned her entrepreneurial chops as the first employee and CAO of a multi-billion dollar private equity firm.
In my recent interview with Alicia Syrett, she gave me a crash course for startups looking to raise money, sharing expert tips for finding and meeting the right investors and knowing when to seek funding.
Research Potential Investors
It’s important to do your diligence on any investor before asking them for money. One half of your research should be answering practical questions such as whether they invest in your geographical area, your valuation range, or your industry. The second half is evaluating who they are as a person and whether they’ll be a good fit for you and your business.
“Get a feel for the person and try to figure out their approach. Very active investors have done podcasts, written articles, and invested in tons of companies,” Syrett said. “Listen to them talk about it and read their writings directly. Talk to their portfolio companies and figure out what it was like to work with them. Use all the information available through entrepreneurial resources like Crunchbase, Gust, and…