1. When you have the luxury of choice: You chose the right angel based on:
1.1. Culture and personality fit. Do they trust you? Do you trust them?
1.2. Do they have a network of funders, mentors and business relationships they can and will open to you?
1.3. Are they experienced investors? Better if they are as they will understand how a business is built and that it takes time. The course is NEVER straight nor smooth
2. To ask for capital, you start by laying out the goals. Generally you raise 18 months of funding. Figure out what you need to accomplish to take you to profitability/ the next raise. Reverse engineer toward those goals. Create a budget. Add 25% fat.
2.1. Once you have a budget you will know how much you actually need to ask for
2.2. Set a valuation/ valuation cap
2.3. You NEVER let an angel set your goals or execution plan. You set it, stand by it and execute. Investors invest in the team that executes on the team vision.
2.4. You pivot when the MVP hits tests and the market resists, not on an opinion unless that opinion is ENTIRELY convincing. Don't confuse capital with control nor insight.
3. Good ones execute to plan, inform the investors every month with a simple financial and business update + asks