Within this article we provide some insights as to why you may not want to go out and get the largest angel investors database as well as some tips for selecting the best directory for your business purposes.
Why Not to Get the Largest Angel Investor Database:
- The largest directory may not be updated very frequently, out of date information is close to worthless so you may as well spend the same amount of money or less and get a more frequently updated resource.
- Some of the larger directories actually mix venture capital, private equity, and angel investors together but you will always want these within separate directories so that if one channel ends up working much better than others you can easily focus on that area and run with it. Don't get a generic database of all types of contacts, it is not worth as much.
- You get what you pay for, if someone is offering a directory with 3,000 or 4,000+ contacts you have to be careful and consider why it may be less expensive than other options. Many times it is because it is of lower quality and there is no real team behind the product constantly updating it and raising its quality.
When you are selecting a database look for this:
- A clearly stated refund policy so you know what is being offered and how much the company stands behind the product.
- A clear way to get in touch with the team behind the database including a phone number, email address, click to chat option, and physical address. This is important to have in place and it should be in place if they are in fact a real company offering a product of real value
- Anything that costs less than $ 200 or more than $ 1,000 is probably not in your best interest, most of the valuable resources in this space cost between $ 300 and $ 800.
I hope these tips and insights help you more accurately gauge what type of resource is going to help your firm the most.