When to raise from angels
swombat: The simple rule is: do it as late as possible.The longer you can delay fund-raising, the less of a share you'll be giving up (or the more money you'll be getting for it), and the stronger your position (presumably). Some businesses raise money on an idea. Others raise money once they have a product with traction. Others never raise money at all. None of those approaches are wrong, but the cost of funding definitely decreases if you wait and decrease the risk on the table.