2. Lifestyle companies  -  What is your dream for the company? Is it to set up and run the company so that you can have an income for the next ten years or is it to grow it into something large and valuable? If not the latter, how will investors get their money back?

3. The long business plan  -  Long plan has the following issues: (a) it is unfocused and rambles; (b) repeats points many times; (c) misses key points; (d) is low on financials and crunchy information.  All good reasons for an investor to move on.

4. Too early, too vague  -  It is unusual for a Business Angel to work with an inventor/expert for the length of time it takes to bring an idea from theory to practice as it includes too much uncertainty, too much time and thus too risky for the investor.  Try to bring at least an existing prototype or completed pilot to the negotiating table.

5. Black hole or rising star  -  If the money is simply to keep the business afloat and not for growth that it is likely that you will need to raise money again and again; that is bad news.  If the money is for expansion and creating a new, saleable asset, that’s good news.