The typical remote angel is a person who has sold his business, is sitting on a pile of cash, and is look-ing for some excitement, and to make a high ROI (return on investment) from a new venture.  The angel understands that an invention or a new product is relatively high risk, and is willing to take such risk.  But the angel is cautious, and looks primarily at your history of sales as a guide to your venture’s potential.

     The remote angel is interested in a venture that will grow rapidly over a period of five to seven years.  This is not a sacred time frame, but is recognized as the typical period that maximizes gain from a sellout. 

     Thus, if you are aiming for angel finance, you must be willing to have the same exit strategy as your angel investor.  If you hope to build your business, and run it until you retire or die, the angel isn’t inter-ested in investing. 

     Another type of remote angel is the bored profes-sional with a high income—often a dentist.  The main differences between an angel who has sold out his business and a dentist is this: the former won’t invest in a licensing venture, but the dentist may be interes-ted in ongoing income if the invention is likely to have high volume sales.  Licensing deals are less risky, of course, because they aren’t money pits that suck up cash as a startup inevitably does.  And the amount of money at risk is relatively small.

     Dentists and other professionals are easy to find.  Start with phonebook listings in nearby towns, and spread the radius as needed.  Send them a letter with a headline something like this:  Announcing the opportunity for a major partnership position in a small startup company based on a patented product.

     By headline I mean headline.  This is the very first printing across the top of your letter.  No logo.  No address.  Not even your name.  Absolutely nothing but the headline.  No one cares who you are, or what your logo looks like, or where you operate from . . . until they have a reason to care.  All the usual heading stuff is a distraction from your benefit offer. 

     Following the headline, two spaces below, start your letter with Dear Mr. Jones, or Dear Dr. Jones.  You must use a “canned” letter (template, if you prefer) after the salutation.  But computer-printed letters are not much work, and they enable you to address the recipient by name rather than Dear Friend. 

     After the salutation, write a brief paragraph describing your invention, stating why it is needed, and telling about consumer reaction to your “mall survey.”  (I’ll cover that subject next week.)  Back up your claim with a bulleted list of testimonials from people who have bought and used, or at least tried out a sample of, your product.  These must be real people with full names and their towns.  Using initials only, and omitting where they live is almost worthless.  No one believes that you didn’t make up the names.  Get permission from your testifiers, of course.

     You may be tempted to tell the story of how you thought of your invention, and how you developed it, etc.  At this point, your recipient isn’t the slightest bit interested.  So don’t bore him.  This is not a an  “about me” letter; it’s a “about you” letter.  “Here’s what’s in it for you.” It’s about an opportunity to own a big piece of a little business.  And even the merits of your product—its features and its benefits—are not essential here.  Consider being a bit vague.  Say “kitchen tool” rather than “can opener.”  Don’t even mention money.  That becomes an “about me” item—your need.  Wrong emphasis. Way too soon.  Focus on what the angel wants: adventure and high ROI,

     Close with a brief paragraph that repeats the headline, but in different words.  Sign the letter in blue ink: “Sincerely,” and your name and contact information.  Now, be sure to add a P. S.  &Your      P. S. is the “call to action.”  It should read something like this:  “Phone me, or return the enclosed postcard to receive an executive summary.

     The executive summary, including your sell-sheet, should be brief—no more that three to five pages.  A sample of such an executive summary is contained in the more complete version of today’s newsletter, my book, How to Finance Your Invention or Great Idea.  And, of course, our condensed book, How to Create the Perfect Sell-Sheet is also available from our web site, www.KarlaAndJack.com.

     Find remote angels of the business type on the Internet.  Key in on Google:  investment angel  You’ll fine more than 22 million references.  Some of these will be networks.  Be patient.  Persist.  The angels are out there waiting for us.

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