Margaret Bacheler, director of educational initiatives for the Angel Capital Association, said this is a relationship-oriented business, so it’s important to start one with an investor on the right foot. Rather than cold messaging or cold calling, take advantage of events and opportunities to get in front of the right investors, she said. “The average angel deal right now is taking, believe it or not, eight to 10 years for an exit,” said Bacheler. “So this is a long-term relationship that we’re seeing with founders.”