| Do you have a great idea for a business? Are you | | | | skills, etc. |
| anxious to get started, but don’t have the funds | | | | So, How Do You attract the attention of a business |
| to get your business off the ground? Don’t | | | | angel? First, you need to make sure your business |
| despair, help is at hand – just find yourself a | | | | plan is sound. Make sure you have at least a 5 year |
| business angel. | | | | plan. Include profit projections, expenses, etc. Include |
| What is a business angel? They are people that have | | | | as much details as you can. It is imperative that your |
| already made their fortune in business ventures, and | | | | business plan be as detailed as possible and as |
| are well established. They are looking to give | | | | accurate as possible. |
| something back in terms of giving funds to other | | | | What’s in it for the Business Angel? Other than |
| start up businesses that they deem profitable in the | | | | the fact that they want to help others that are |
| long run. They love to invest in businesses they | | | | starting out, they do have an ulterior motive – to |
| consider to be ‘high growth.’ Don’t | | | | make money. These people are investors after all. |
| approach them with a miniscule idea or an idea | | | | For the most part, they would have part ownership |
| without a sound business plan for growth. | | | | of your business, and as such a portion of the profits |
| The business angel will want assurances that you | | | | will go to your business angel. Is this not a small price |
| have a solid business and a likely chance at | | | | to pay for the wealth of knowledge and skills you will |
| succeeding; when you make money, they make | | | | receive? |
| money. This is a very positive aspect, because they | | | | Make sure you spend time with your investor to |
| will do everything in their power to make sure you | | | | make sure you feel comfortable with him/her. |
| succeed. A business angel will not only supply money | | | | Everyone is different, and each investor will have |
| to your venture – they will also share with you all | | | | different rules/terms to their angel arrangement. Like |
| that they have learned in their own business | | | | most things in life, knowledge is the key to success! |
| ventures including business contacts, experiences, | | | | |