Ask HN: What to tell Angel Investors after changing environment? | Hacker News Reader

Ask HN: What to tell Angel Investors after changing environment?

2 pointswhattodo2 comments

I recently pitched my idea at a startup event, generated quite a bit of buzz, and garnered the attention of several Angel Investors. But I'm scared to meet them because so many variables have changed since the end of the event.

1.) Half the team decided to take advisory roles in the company (simply because there were too many biz people in the group). This cut the founding team size to 2.

2.) After some discussion, we decided mobile was a better solution than web.

3.) I'm a business guy, but I changed my role to developer when I found out the dev on my team wasn't a mobile guy. Together, we came up with an easy, temporary mobile app. It wasn't particularly sophisticated though.

4.) The other developer wasn't super passionate about the project from the beginning, but was extremely interested after we had Angel Investors offer to help us.

So now I have a meeting coming up with some Angel Investors and I am scared to tell them that my team doesn't have a real mobile developer, the other developer may not be as passionate as I thought, and I will now be splitting my time between business and development.

I don't want to lose their confidence, so what can I say? What can I do beforehand? We do have a freaking awesome idea, but as always, execution is everything.

Also, what kind of questions can I expect from an initial sit-down with investors? They told me they want to meet so we can discuss execution.

1) I think you're too worried about the dev not being a "mobile dev." There really aren't any developers with 5 yrs experience on the currently dominant mobile platforms b/c they haven't been around that long. Good developers can pick up new technologies at a reasonably quick speed. A web developer has some server/client experience. Good enough.

2) IMO you don't need to worry that the developer is more interested in a paying gig. Being treated as a valuable professional who is compensated for their time is not a bad angle to keep the dev's head in the game. Act grateful that he's helping you do something you consider important and then pay him. That can still go a long way.

3) I'm biased (because I'm a developer not a V.C.), but I'd say "what you can do beforehand" is mainly just getting the product as far along as possible. It sounds like you've already taken the leap of faith so just try to get to v1.0 quickly. Building a product and then selling it is not as unreasonable as some market pre-validation advocates say it is.

4) If you really have taken the leap of faith, act like it. You are going to build this product and sell it. You're just going to have some meetings to see if the V.C.'s want to come along for the ride.

5) To paraphrase Sh*t My Dad Says: "Son, let women figure out why they won't date you, don't do it for them." Applies here as well. In a less coarse example, when I was 25 and working at my first startup I was frantically trying to get all our ducks in a row before some big meetings with V.C.'s and potential enterprise clients. The CEO told me, "Don't worry about it. At some point you have to stand up and say what you have to say and let them challenge you on it. That's where we're at."

I'd say recognizing the problem is good. If you don't want to lose confidence I'd spend every waking hour between now and your sit-down finding a passionate mobile developer.

On the other hand, just because your programmer became more excited when funding appeared doesn't mean he's not devoted now. It's not entirely irrational. But that's on your judgement.

In any case. If you don't like your position, improve on it. Unless you literally get bad news on the phone during your meetings with investors the discussion should be about what you've done, and what you are doing to solve the problems you have (and good news, everybody likes good news if you have it).

Reply on news.ycombinator.com