An angel does not just want to hear that people like your idea. They want to see how their money could turn into a meaningful gain. Return on investment is the case for that upside: explain why an investment might produce a strong multiple, such as 10 times or 20 times the amount invested. section 6.5
Support the claim with numbers, not optimism. Estimate what a buyer might eventually pay for the company, using comparable acquisitions where possible. Then connect that potential sale price to customer-acquisition cost, customer lifetime value, and projected revenue across customers. section 6.5
A practical ROI case answers:
- What multiple could the investor receive? section 6.5
- Who might acquire the company, and what supports the expected sale price? section 6.5
- Can customer economics and projected revenue make that outcome plausible? section 6.5
