In stories, angels often appear just when they’re most needed. When it comes to the real world of business, an angel is not likely to swoop in with bags of money to finance your dream venture. Rather, you’ll probably need to pursue an angel or angels – that is, a wealthy individual or a group of private investors – by mapping out a careful strategy and executing it successfully.
Step 1: Determine if you need an angel, and can land one
Angel investors provide money to early-stage enterprises; however, because they are looking to make a profit on their investment, angels are not likely to sink capital into a business that only exists on the back of a napkin and has no other funding secured. Instead, angels generally invest in companies that have gotten off the ground but are not in a position to pursue venture capital or large-scale debt financing, or raise funds through other channels. So before pursuing angel investors, you should tap family and friends and other sources of seed money.
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