Angel investors are often successful business people who invest in early stage companies. High return on investment may motivate them, although many angels enjoy the process of mentoring start-ups, shaping their futures and keeping their hand in industries that they know and love. For a thorough discussion of angel investors, read the Wikipedia entry.
The motives, business models and personalities of these highly individual investors varies considerably. It is not possible to predict what sort of business plan any particular angel might wish to review before investing, but one thing is sure: they will tell you what they require when the time comes. In order to approach angels in the first place, we recommend a two page Executive Summary of your business plan and a 10-slide presentation on your laptop. You should also have back-up details such as a detailed marketing plan, competitive analysis and any especially relevant research data that helps support your plan and business model.
We strongly advise that you practice your presentation and test you business plan ideas on as many small audiences as possible prior to making a real presentation. Practice will tell you where the presentation is weak, what questions will likely arise, perhaps spawn some good ideas and help you get comfortable with the process. It’s okay to be a little nervous, but not to go in cold and unrehearsed.
We can help you prepare these materials, coach you on making presentations and guide you in finding the right angel investors to approach.