Where Are the Angels?
• Timing is everything. Don’t rush into an already crowded, troubled market, especially if your product is not ready and your team is not assembled. Step one is finding the right concept and the best people with whom to work. Finding the right product will involve deep market research. Today, after the fallout of business-to-consumer (B2C) e-commerce, investors will need convincing that your idea has legs. What once was left to chance has turned into a demand for near-guarantees among those with money to invest. Don’t Ad-Lib • When the team is in place, create a business plan. It sounds basic, but the truth is many dot-coms never took the time to lay out their plan. If you don’t know how to write a business plan that sells, hire someone who does. Get Feedback • Once the business plan is drafted, circulate it to various professionals to critique. Have at least three individuals review the plan. Those should include a person who invests in new businesses. Make it clear to him or her that
