MF 195 : Elizabeth Cho-Fertikh on Moving Forward with Angel Investing and Educating Entrepreneurs
Elizabeth Cho-Fertikh is an angel investor and founder of ECF Biosolutions, a life science advisory practice. Today, Elizabeth will share some common mistakes and best practices for pitching to an investor.
Successes at a glance:
Founder of ECF Biosolutions
Elizabeth started her career in the sciences as a cancer biologist. She spent 15 years in the lab before transitioning into the startup world, where she immersed herself with numbers and finance; looking at how to fund companies. Elizabeth learned the ins and outs of grants administration where she oversaw review panels. From there, she later transitioned into private investor funding. Elizabeth educated herself on this world, joining an angel investor group. Today, Elizabeth is an angel investor and her company, ECF Biosolutions, is an advisory practice, helping companies with grant consultation and science writing.
What is an “angel investor:”
Individual investors who provide seed capital to startups at the earliest stages, in exchange for an ownership share in the venture.
Elizabeth’s big why:
The US has an amazing entrepreneurial spirit with so many startups but there’s not enough funding. Elizabeth’s big why is to support promising startups as an investor and mentor.
Biggest challenge today:
There is a disconnect between what investors evaluate and what entrepreneurs pitch or communicate. Often, startups will invest in legal counsel and accounting but not enough into understanding what investors want.
Moving forward past that challenge:
Elizabeth is moving into entrepreneurial education. She mentors startups and incubators, serving as a resource. Increasingly, Elizabeth gets asked by entrepreneurs “how do I get funding?” Since there are only so many hours in the day, Elizabeth has created three online courses that guide entrepreneurs in understanding what investors evaluate and how to communicate with them.
Biggest mistake you see when people pitch Angel investors and one best practice to avoid that mistake:
Not knowing your story. Have your story down when presenting your business idea or pitch, especially to investors. You have to know who your target market is and why it’s a market worth pursuing. Most of all, what problem does your solution solve?
Practice, practice, practice to different audiences. Use this litmus test: if your audience can recite back your pitch in 30 seconds then you’re on the right track.
Favorite tech tool or productive practice:
Twitter: great way for Elizabeth to respond to questions and interact.
Share one small step or choice you’re making today to move forward:
Try to reach out to more prospective investors and educate them.
Start Moving Forward with Audible and two free audiobooks:
Try out Amazon Prime for 30 days free through our Amazon affiliate.
Who is Elizabeth in five years:
Elizabeth’s dream is to be a successful mentor: she hopes to see several of the startups she mentors reach greater heights. Personally, Elizabeth wants to make a greater impact in the entrepreneurial ecosystem.
“Invest in your education. Get to know the investment side, the legal side, and accounting as needed. Don’t neglect the investment. Don’t go from place to place, source to source. Invest in your education on that point so you can get to your goal as quickly as possible.”
Connect with Elizabeth:
Use promo code: “intro30” to get 30% off any of the courses.