| What preparations need to be made when seeking | | | | management team. Perhaps you will need to solicit |
| angel investors? | | | | help from solid business community members. |
| In order to increase the probability of obtaining capital | | | | An effectively presented business plan is imperative. |
| from an angel investor, a company needs to take | | | | Your business plan should contain a marketing plan, a |
| meticulous care in creating its investor marketing | | | | sales plan, solid financial projections, and a thorough |
| materials. Even though angels do not typically abide | | | | description of operational control. Illustrate an exit |
| by the same formal processes as venture capitalists, | | | | strategy for your angel. The business plan should be |
| it is still important to prepare your materials in a | | | | compelling and attract investment. Make sure yours is |
| format that can endure the same scrutiny as their | | | | polished. Don’t be afraid to show it to |
| corporate counterparts. | | | | independent observers. |
| How can you ensure you get the funds you need to | | | | Since many companies are basing their success on |
| thrust your business to the next level? There is no | | | | proprietary intellectual property, make sure yours is |
| simple, cookie-cutter formula. There are a lot of | | | | protected. Show your potential investors what legal |
| variables, many of which we will cover in greater | | | | measures you have taken to secure any trademarks, |
| detail in future articles. In the meantime, let’s | | | | copyrights, patents, and trade secrets. |
| focus on the essential elements of your marketing | | | | Once you have organized your materials in a |
| materials that must be well presented and thoroughly | | | | marketable format, you will need to develop or |
| organized when attempting to raise capital. | | | | purchase a list of qualified angels to present your |
| A solid management team is critically important to the | | | | opportunity to. Source your angels carefully, and |
| success of any business. Demonstrate why yours is | | | | make sure those that you market to can deliver the |
| exceptional. Angel investors want to know the | | | | kind of financial injection you seek. Utilize more than |
| qualifications of management personnel. They want | | | | one source of potential funding. We all know that the |
| to see that your team can work together effectively | | | | big fish can and will get away. |
| to make your business successful. Your team should | | | | Bear in mind that this process may take some time. |
| include people with expertise in marketing and selling, | | | | Be patient. Be ready to present your ideas and |
| accounting, managing people, and product | | | | concepts at a moment's notice. Be prepared and |
| development. Angels want to see prior track records | | | | organized, and continue to persevere! |
| of success. Keep this in mind when assembling your | | | | |