When investors asks, “Besides money, how can we help you?”

A good friend was recently asked this question by a potential angel investor. She admitted the question surprised her. She didn’t give the best response in part because she didn’t understand the underlying question, or rather questions.

First, did you do your homework?

Angel investors are typically current or former entrepreneurs. When an angel investor ties their money to you and your company, they want you to succeed and they will help you get there. But more importantly, they want to know that you’ve thoroughly researched them and know why this particular investor is the best fit for you.

Think about it: If you can’t Google someone who will potentially make a $100,000 cash investment in you, why would that investor think you’d properly research the information you’d need to close a $2MM sale?

Remember, the evaluation process is a two-way street. You are assembling a team to get your business off the ground. Investors will be a member of your team, so feel comfortable evaluating and interviewing them just as you would a potential employee.

Ask how they support their investments. Find out how hands-on they typically have been with their previous investments? Look into their track record.

Do the businesses they invest in take off? Do those businesses get VC investment in the next round?

Second, do you know the type of help you need?

This is the more important underlying question. Are you self-aware? Do you know your team’s strengths and weaknesses? Are you actively assembling a team that fills in those weaknesses?

Many people looking for funding forget that an investor can be a huge asset to their team. When an investor asks, “How can we help you?” they are looking to see if you understand your strengths and weakness, both in yourself (read: are you product-minded versus business-minded?) and your company.

Look to see how you can leverage the following aspects of an angel investor to grow your business:

Relevant experience. Many angel investors were once entrepreneurs, so they often have extensive experience building, growing, and selling scalable businesses. (Read: They know how to market new ideas.)

Strong network. They have a network of people with proven experience growing startups — people they’ve hired or worked with who can now work for or help you. They have the business contacts your business needs to hit the ground running.

Lastly, even if I don’t invest, can I still help you?

For a wide variety of reasons an angel investor may choose not to invest in you. And that’s okay.

Angel investors understand that it’s best to expand the pie for everyone, not just themselves. If they see an opening to help, they will. If you’ve done your homework, look to see how you can leave the meeting with an introduction to someone in their network who will invest.

Originally published at facingthenumbers.com on April 14, 2016.