Finding the right angel investor is harder than ever these days, observes Jim Casparie, chief executive of the Venture Alliance. To woo one, you'll need to nail every aspect of your pitch, from your elevator speech to your business plan. And make sure you fully understand how much control you're giving up before you cash any checks, he warns. "If the deck sounds stacked against you, it's because in many respects, it is," he writes.

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