Start-up entrepreneurs pitching for their first round of investment might do well to find out a bit more about their potential angel’s willingness to learn.
According to a recent survey of business angel learning styles, the 'know-it-all' is someone who does not recognise the need for any training or new knowledge. They appear more willing to say yes to a start-up, whilst the 'on-the-job' learner who is more open to training or absorbing the wisdom of others is more likely to say no.
These three groups of angels differ in terms of their education, prior small business involvement, portfolio performance and portfolio performance. Each group has different rankings of investment criteria and different approaches to how they evaluate investment opportunities.
The implications from this research are significant for the new company or owner manager seeking growth funds.
Read more on the Adam Smith Business School website