What to Look for in Business Angels when Raising Starting Capital
Building a business from the ground up is a difficult task, particularly if you don't have independent means of funding the start up. Without an adequate funding platform, you run the risk of missing opportunities and attracting accredited investors. Because finding business angels is such a significant step for your fledgling company, you may fail to realize that there is more to consider when making an investment deal than just the availability of venture capital.
You should be sure that the potential investors understand your vision and the steps you plan to take for implementation. Additionally, you need to tell business angels upfront if raising capital will be an ongoing process or will conclude for a short time only to start up again at a point in the future. It's always beneficial to find an investor who is willing to help provide startup capital and contribute to operating costs and other required areas of funding down the road.
But you can't always assume that this will be the case. Ensure that you and the investors understand each other's expectations and intended achievements. It's also wise to sketch out a plan B, explaining what direction you'll take if projections aren't met.
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