How To Approach Angels ?

Although informal investors or "Business Angels" take quick decisions and apply a less formal investment process than Venture Capital funds, it is a good idea for the entrepreneur to have the full business plan ready before looking for angel financing. The business plan is a detailed statement of where the company is today and of its strategy for the future. It must explain why the business will be successful and convey what is unique about it. It should examine in the minutest detail the basic assumptions of the business, in order to clarify management thinking and to establish milestones for future development. It should cover all aspects of the business: from its marketing strategy, its competitors and its potential customers, to the management and finances of the business, and its forecast annual sales and targets

Typically, the plan will cover a three to five-year planning horizon.