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What it Takes to Grow an Angel Community
3 takeaways from my conversation with Sebastian Garzon, Executive Director of Alamo Angels
If you have good quality companies, your investors are going to be happy. If you have good investors that are actually participating in these investment opportunities, your companies are going to be happy with their experience.
Today, I’m breaking down 3 takeaways from my discussion with Sebastian Garzon, executive director of Alamo Angels.
Check out our full conversation + how to connect with Sebastian here.
The Observer Express
Don’t have time to read the entire post right now? No worries, here are today’s 3 takeaways:
Don’t Skip the Basics: the Mission Matters. This drives alignment for the entire organization.
Community Operators Focus on Sourcing Deals and Sourcing Members. This is the 20% of work that generates 80% of the value for a community.
Relationships are Everything. This is how to accomplish takeaway #2.
1. Don’t Skip the Basics: the Mission Matters
It’s so easy to get so focused on deal flow management and investor relationships that angel communities sometimes forget the fundamentals that anchor any organization: clear mission, vision, and values.
I think a lot of times you take certain things for granted. As an example, what is your mission? What is your vision? What are your values? And as long as you know who you are through those fundamentals, then everyone is now aligned and everyone is drawing on that same direction.
Two months ago, I was appointed as the president of the Colombian Association here in San Antonio. First thing that I did: mission, vision, values.
We did have a mission. We had a vision, but we did not have clear values. I really aligned everyone in the team… to truly buy into what we are doing.
2. Community Operators Focus on Sourcing Deals and Sourcing Members
What is the 20% of activity that generates 80% of the value for angel community operators? Sourcing great deals and sourcing the right investors.
Simple, not easy.
If you ask me, what is the 20 percent that we need to focus on, I will say definitely curating good quality companies as well as getting the right investors in the room. That's really where it's at.
3. Relationships are Everything
How do you find great deals and good members? Build relationships.
For both sides of the coin, it's all about relationships. If I want to get more investors, I leverage the existing relationships that I have with my own investors for them to bring people to my network.
It's truly a relationship-based approach.
Here in the U.S., we tend to be a little bit more transactional sometimes, and that doesn't play well with people in Latin America. So you really have to go out for dinner. You really have to go out and get a drink before you establish a conversation from a business standpoint.
3 Lessons Learned
How to offend someone at a networking event: ask 0 questions.😐Last week I met someone and enjoyed learning about their story/background. Then they said “It was great to meet you,” shook my hand, and walked away. What?? Maybe they had another meeting. Maybe I said something that bothered them. Maybe they were just tired. I have no idea, but what I do know is that I left the conversation feeling disrespected & disappointed. I’m bummed to have had this experience but am grateful for the reminder to see and honor the people around me, no matter how busy I may be.
Texting is magic.📱I’m learning most business leaders are ridiculously behind on email at pretty much all times (no matter how hard they try). Texting for the important stuff helps a lot.
Definitions matter.🧾What does the word “traction” mean to you? How do you define “MVP”? Definitions matter, especially for diligence conversations, and after an internal training focused on definitions I’m excited to begin working on a “glossary” of PitchFact definitions for various terms.
3 Interesting Links
Tune in next week for a breakdown of my conversation with a serial entrepreneur and expert in the fractional CTO space.
Until then, thanks for reading - have a great week.
-Andrew
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How did I do this week?
About Me
I cultivate flourishing.
I'm also the CEO of PitchFact, where our mission is to cultivate flourishing specifically through efficient and collaborative early-stage diligence. I'm a proud husband, grateful father, and honest friend. My love languages include brisket, bourbon, and espresso.