Well, today seemed like a pretty good day. Still doing a lot of learning and researching about pitch decks, investors, mentors, etc but it is coming along. Its Thanksgiving week and I will unlikely talk to anyone or even try to email anyone till next week. Starting to learn a little about Linked In which seems like a hassle but hey..time to get into the modern world. Finally saw our patent documents getting ready to file.
So one of the most exciting things of the week or probably couple of weeks is the fact our lawyers got our patent application together and sent it over for approval. 33 pages of technical jargon and only a few really related to our actual product. It all looked good so I sent it back and said lets file. There was also a question of whether or not we would like to use the expedited service or not. ITs between $850 to $2500 depending on our size. I believe we fit in the micro slot so its $850. This shortens a 2 year wait to a 1 year wait for a review. I’ll pay the money. Lets just get it filed for a piece of mind.
Researching angels seems to be a hell of a process. I can see why there are services and paid sites out there for this now. Trying to find the people (Linked in capped me off pretty quick…so pay $45 a month or not?) and knowing their niche, etc is complicated. I feel like I need some formal tracking (a google doc) to track names, ways to contact, their niche, etc. I’m not normally that neurotic and organized but it looks like I need to be. I also need to be ready for lots of no’s and people just not responding. One common thing I found is people often get very discouraged by the non-responses and the no’s. Mental note is to know that 95% of the people I contact will be a no response or a no….especially since all I have is cold outreach.
Found a few local angel investor groups and one place called Capital Factory that seems pretty cool. Capital Factory is kind of confusing though. They seem to have a coworking space in Austin but also do angel/venture investing. Their site doesn’t seem to be up to date with some event showing for December of 2018. I know Jason Cohen was supposed to be part of this but he is not on the site. Either way, Im going through the profiles and going to try and connect to people who seem to be in the possible niche. Found a few of these guys live local to me in the DFW area which is super cool. Hoping to connect regardless of pitching an investment. One of the guys actually sold his business to Angi’s which is a competitor of ours…that could be fun 😆
