Pitching Angels 2: It’s the Exit, Stupid!

If there is one thing to understand about how investors view your pitch its this: we don’t make money until “the exit” or “liquidity event” — either the sale of the business or an IPO when the stock in your company can be sold. Until then, the equity we’ve bought in your business is nothing but a number on a spreadsheet. No matter how many millions it might be worth in theory, we can’t use it to purchase even a…