If you’re an emerging business with the subsequent great product, sometimes you need an angel in your side.
A study by the University of New Hampshire’s Center for Opportunity Study showed that “angel investors” – high-net-worth persons willing to purchase entrepreneurial businesses at an earlier phase – shelled out more than $18 billion into early-stage companies last year alone, in comparison to $304 million by endeavor capitalists.
Discovering an angel buyer, nevertheless, is not an effortless task. Safer Smokes Inc. is a single organization that understands the challenge of attracting the proper investors.
This development-stage company is tapping the cigarette smoking cessation market using a unique tobacco-free, nicotine-free smoke referred to as Bravo, that has the look of the conventional cigarette and burns like tobacco, but is really made from lettuce fibers.
“Bravo lets you smoke your way out of the tobacco habit gradually,” said Puzant C. Torigian, chief executive officer of Less hazardous Smokes.
For businesses like Less dangerous Smokes, it might be too soon to strategy large venture capital firms, yet time to move beyond networking with loved ones and close friends. Angel traders towards the rescue.
“The challenge for raising funds in today’s marketplace is in harnessing the courage and vision with the angel to find out via for the actual purchase possibility,” stated Torigian.
So how do firms like Less hazardous Smokes attract their angel?
* Possess a clear-cut target industry to your item or service. For example, Safer Smokes is targeting the using tobacco cessation industry, that has product sales approaching $10 billion per yr, up from $6 billion just 3 years ago.
Most angel investors favor firms that are most likely to demonstrate positive cash flow within their very first 18 months, so getting these types of statistics about your industry may be an incentive.
* Match the business strategy objectives to the angel’s chance tolerance. Investors want to understand the merchandise or service will probably be special and well-cultivated. Less dangerous Smokes has a patented solution that business officials say will “affect the landscape from the wellness care industry.”
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