Now that the Christmas season has passed, it is time to get ready and prepare for the year 2024. At the Angel Investing School, we are already brainstorming new content and working on delivering even better events and lectures.
However, as much as it is important to look forward and plan for the year ahead, it is equally important to reflect on the past year. This is why we have prepared the Angel Investing School 2024 Self-Reflection Guide for you to evaluate and reflect on your angel investing journey. The questions allow you to reflect on past decisions, mistakes and most importantly lessons, which will make you an even more effective angel investor in 2024.
Clarity of Investment Thesis:
- Have you maintained a clear and focused investment thesis throughout the past year?
- How well did your investments align with your initial thesis?
Adherence to Risk Tolerance:
- Reflect on your risk tolerance. Did you adhere to it, or did you find yourself deviating from it in certain instances?
- What have you learned about managing risk in angel investing?
Learning from Mistakes:
- Can you identify any specific mistakes or challenges encountered in your angel investments over the past year?
- What lessons have you learned from these mistakes, and how can you apply them moving forward?
- How diverse is your current portfolio, and has it evolved according to your initial diversification strategy?
- Are there specific sectors or industries you’ve over/under emphasised?
Impact of Due Diligence:
- Reflect on your due diligence process. Have there been instances where you wish you had conducted more thorough research?
- How can you enhance your due diligence practices for better decision-making?
- What investments have performed well, and what contributed to their success?
- How can you replicate successful strategies in future investments?
Communication with Portfolio Companies:
- How actively have you engaged with your portfolio companies?
- In what way can you improve your communication and support to maximise the value you bring as an angel investor?
- Have you adjusted your investment strategies based on market trends or changes in the startup landscape?
- What adjustments, if any, do you foresee making in the upcoming year?
Network and Collaboration:
- Reflect on your engagement with the angel investing community. Have you actively collaborated with other investors?
- How can you strengthen your network to share insights and opportunities?
Setting Future Goals:
- What are your goals for the upcoming year as an angel investor?
- How do you plan to evolve and improve your approach based on the lessons learned from the past year?
- Has your reason/motivation for angel investing changed since you started angel investing?
Self-reflection can be scary as it forces us to be honest with ourselves. However, if we are not honest with ourselves, particularly with our mistakes, then we can never truly learn and grow. I encourage you to take 30 minutes and ask yourselves these questions before jumping again into angel investing in 2024.