One of the toughest steps in the investment process is getting back to the entrepreneur to let them know that your group is not going to proceed with their funding request. It can be an emotionally charged situation, and because there are so many more deals out there than capital to fund them, it has to be a regular part of your investment group’s activity.

If we look at the positive side of turning down a funding request, we see that many groups use this as an opportunity to provide feedback to the entrepreneurs. Its a critical part of the process where the investors are able to give something valuable back to the entrepreneur, and an opportunity to set them on the path to finding funding from another source or possibly from that group at a later date.

To help with this process we’ve added the ability to send a “declined email” to the entrepreneur.

Take a look at the tutorial below and let us know what you think!

1) Select the deal or deals you would like to decline

Check the box next to the name of the deal, or check the boxes next to the name of all the deals you would like to decline. This feature works in bulk.

2) Move deal to the “Inactive” folder or any folder inside the “Inactive” folder

Use the “Move Deals” drop-down to move those deals to the “passed” folder, indicating that you will be passing on these deals.

3) Send the entrepreneur a email declining the request for investment

Fully customize your rejection letter. You can even build your own “declined email” template under “Group Admin” in the “Preferences section”. Notice, Angelsoft will automatically fill in the name of the entrepreneur this message is going to be sent to. Should you decide to not send the entrepreneur a rejection, you can simply click the “cancel” button.

Be sure to send yourself a preview email to see what the message will look like before you send it off.

4) Retain a copy of this rejection letter in Deal History

Evan Bartlett :: Apr.29.2008 :: Angel Group Manager, Tutorials ::