Jeff Werner, Field Holding, is an Angel Investor talking about “What should a startup be prepared to present at each stage?” https://fieldholding.com
Friends and Family – A great story and a presentation of the vision, mission. Basic plan. Product/service example or greater. Pre-seed – Early business plan. Initial financial model. Basic product/service version (MVP) or greater. Seed – More thorough plan, initial market validation or greater, competent team, at least V.1 of the product or service Series A – Capable team including reputable advisors. Board of advisors and/or directors, product in the marketplace with promising traction. At least $750K – $1M in annual sales. Series B,C,D, etc. – Quantifiable success in some aspects of the market. Professionalized operations and team.