So you're an entrepreneur looking for investors, and you want to place a classified ad in the newspaper. Too many entrepreneurs focus on raising money rather than building financial partnerships. Although a start-up quickly can burn through money, the added value of a knowledgeable and experienced investor can pay lasting dividends. The first thing to decide is what type of investor is best suited to your company's needs, which depends on the amount of capital you want.
Angel investors are another option.
These usually are wealthy people who, in many cases, were successful entrepreneurs themselves. It's important to partner with the right investor because the relationship most likely will last five to 10 years and will profoundly affect you and your company. The first step in courting an investor is to prepare a detailed business plan. The plan should include the business concept, management team backgrounds, research and development timeline, strategic marketing plan, financial plan and exit strategy. The quickest way for your plan to end up in the circular file is to claim that you have no competitors.