Need a Business Angel? Here’s What You Need to Know!
You’ve heard that business angels can help you with your start your business venture. You’re excited about the prospect of receiving start up capital and working with an experienced entrepreneur who’s ‘been there, done that.’ You’re eager to for them to teach you everything they know.
Before you get too excited, there are things you need to know in order to attract a business angel to your business. They are not just going to give you their hard earned money without some assurances on your part. Think about it – they did not become successful by being haphazard with their business deals. Here is what an investor will look for before partnering with you.
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A great business idea – the investor must believe that your business idea is a good one and in a market that has the potential for growth. (An example of growth potential is technology or health, but is certainly not limited to these.)
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A solid business plan – this needs to be a comprehensive plan that includes 5 year projections for income, expenses, etc. Include your vision and mission statements, marketing plans, logos, tag lines, market share, goals, and niche markets. Make sure your plan includes graphs and charts. Make it look professional: if your investor thinks you wrote it with your buddies while having beer and chicken wings in your basement, they will run the other way faster than you blink.
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Your commitment – they will want assurances from you that you are a dedicated, self-starting, self-disciplined entrepreneur and that you will do whatever it takes to succeed. If you are just doing this as a hobby, or just to ‘see how it goes’ you will find yourself on your own.
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Your skills and experiences – you must be able to bring something to the table. Do you have a degree in business? Do you have past business experience? Have you run a successful business in the past? These are all questions you should be prepared to answer.
One of the best websites in this regard is entrepreneurinvestornetwork.com.au, which aims at uniting angel investors looking for business investments in Australia with budding entrepreneurs in the country.Log on to the website today. You will not be disappointed.
Article Source: ArticlesBase.com - Need a Business Angel? Here’s What You Need to Know!