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Most business owners know how they want to run their business. To a large extent this is based on the business owner‘s personal values, ethics and interests. Sometimes the day to day problems pile up at such a rate the owner loses sight of what they wanted to achieve as they get buried under layers of demands on their time. Most people would not consider carrying out a health check on themselves. Instead they consult an external expert who will take an objective look at them and provide impartial advice. In business a similar route should be followed as anyone involved in the day to day running of a business may not notice a significant problem due to familiarity. The old adage about the value of a fresh pair of eyes is true in business as it is elsewhere.

When presenting your business plan to an angel investor you must understand that they will be very interested in your spreadsheets and proformas, but you must also realize that it is typically an entrepreneurial optimistic approach, which causes problems with proformas. Therefore, you should have dueling spreadsheets; that is to say the spreadsheets, which take your best guess and double the time, double the expenses to compete with your optimistic approach. You should be able to present both of these to your Angel Investor; who chances are is a retired business person with a little bit of financial savvy.

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