Ep201 – Cheryl Mack (Co-founder & CEO – Aussie Angels) on how to get started as an angel investor
Dec 12, 2024
auto_awesome
Cheryl Mack, Co-founder & CEO of Aussie Angels, shares her journey from launching Australia’s largest startup conference to leading a platform that democratizes angel investing. They delve into the essentials of brand marketing and storytelling for startups. Cheryl offers insightful advice for budding angel investors and discusses what to look for in founders and investment opportunities. Discover the benefits of syndicates and the critical elements that define successful investing strategies as Cheryl navigates the evolving startup landscape.
Cheryl Mack highlights the vital role of brand marketing and storytelling in distinguishing startup events, resonating with attendees and fostering community.
New angel investors should prioritize networking and proactive engagement to build connections that facilitate their integration into the startup ecosystem.
When selecting angel investors, founders must consider alignment with business goals and the additional expertise that can significantly influence their startup's trajectory.
Deep dives
Cheryl Mack's Entrepreneurial Journey
Cheryl Mack began her career as the CEO of StartCon, the largest tech startup conference in Australia, which attracted thousands of attendees eager to learn about startup investment and entrepreneurship. After recognizing the challenges of entering the angel investing space, largely dominated by men, she established Aussie Angels to create accessible investment opportunities for new angel investors. The platform has since enabled over 1,700 angel investors to collectively invest more than $23 million into startups through various syndicates. Her experience in the startup ecosystem has led her to actively engage in multiple projects, fostering a collaborative environment for aspiring entrepreneurs and investors alike.
The Importance of Brand Marketing and Storytelling
Cheryl emphasizes the critical role of brand marketing and storytelling in the success of events like StartCon, where they carefully crafted themes for each conference. By aligning the event's messaging with current trends and sentiments in the startup ecosystem, they created a compelling narrative that resonated with attendees and attracted notable speakers. This focus on storytelling not only distinguished the conference from others but also fostered a sense of community among participants. The innovative approach to branding helped Shift the perception of startup events, emphasizing their relevance and importance.
Navigating the Startup Ecosystem as a Newcomer
For those new to the startup ecosystem, Cheryl advises prioritizing networking and proactive engagement to build valuable connections. By reaching out to individuals within the community and requesting meetings to learn from their experiences, newcomers can integrate more quickly into the ecosystem. Cheryl believes that many professionals are genuinely willing to help, and the act of seeking guidance is vital for personal and professional growth. Such interactions can open doors to opportunities that would otherwise remain inaccessible, especially in a rapidly evolving industry.
The Role of Angel Investors in Startup Success
Cheryl outlines the value that angel investors bring to startups, emphasizing the importance of selecting the right investors based on alignment with business goals. Founders should consider what additional expertise and resources an investor can provide beyond capital, as the right partnerships can significantly impact a company's trajectory. She encourages entrepreneurs to approach fundraising strategically, viewing it not just as a financial transaction but as a long-term relationship that can influence the business's direction. Engaging with investors who share the same vision can lead to mutually beneficial outcomes and foster a supportive environment for growth.
The Evolution of Cheryl's Investment Strategy
Cheryl reflects on her growth as an investor by adapting her strategy over time to focus more on the founding team rather than solely on the product. Initially, she concentrated on technology and product functionality, but she learned the significance of assessing founder dynamics and their ability to navigate challenges together. Now, her investment criteria involve understanding the founder's commitment, adaptability, and decision-making process, as these indicators can predict a startup's resilience and potential for success. By prioritizing founder qualities alongside market viability, Cheryl enhances her chances of identifying promising investment opportunities.
Balancing Work and Family Life as an Entrepreneur
As a co-founder and parent, Cheryl stresses the importance of establishing a supportive structure that allows for both professional and personal growth. After navigating her own experience of raising capital while pregnant, she emphasizes the significance of finding effective childcare solutions to maintain her professional commitments without sacrificing her parenting journey. By planning weekly schedules with her partner and employing strategies like meal prepping, she achieves a balance that aligns with her values and ambitions. Cheryl's pragmatic approach showcases how intentionality and communication can lead to a fulfilling integration of work and family life.
My guest for Ep201 of The Startup Playbook Podcast was Cheryl Mack.
Cheryl started her journey launching and growing Startcon, which was Australia’s largest startup conference at the time.
She’s now involved with a number of different projects including The Pillars, 361 Angel Club and the First Cheque Podcast but she is best known as the Co-founder & CEO of Aussie Angels.
Aussie Angels is a platform that manages the backend infrastructure of investments, allowing angel investors to invest in startups via syndicates. To date, over 1,700 angels have invested $23M through their platform.
In this interview we covered a range of topics including:
The importance of brand, marketing and storytelling
How to get started with angel investing
What founders should look for when adding angel investors to their cap table
What investors really mean when they say they look for “good” founders, markets and investment opportunities
& much more!
Timestamps:
1:43 Cheryl’s background
3:54 Growing up in Canada and moving to Australia
8:25 Building StartCon, Australia’s biggest startup conference in Australia at the time
14:31 Choosing themes/sectors as an Angel Investor
20:49 What Cheryl looks for when personally investing in companies
29:26 Learnings from early mistakes as a new Angel Investor
35:41 Advice for new Angel Investors
38:00 Benefits of joining a syndicate
47:43 How founders should think about taking money from angel investors
54:06 Signals investors should look for when deciding whether to invest
1:00:44 Challenges and benefits of working with your partner, balancing family life
1:10:13 Redistributing wasted toys
Our partners:
A big thank you to Tom Worden and Alexandra Lewis for their help with this interview!
Also a big shout out to our partners for the show:
Scendar
Scendar is the OG startup accounting firm in Australia catering to all stages of your business’ life. If you’re busy running your startup, you don’t have time to do your own books and forecast. Instead, fully outsource your finance function, giving you time and resources back to focus on what you do best in growing your business. Find out more at Scendar.com
Vanta
Vanta helps businesses get — and stay — compliant by automating up to 90% of the work for the most in-demand compliance frameworks. And with over 300 integrations, you can easily monitor and secure the tools your business relies on. Join over six thousand fast-growing companies that use Vanta to manage risk and prove security in real time. Startup Playbook Podcast listeners get access to an exclusive offer of USD$1000 off their plans. Head over to vanta.com/playbook to get access to this exclusive discount.