I need some basic guidelines what one needs to consider when choosing : 1) How to decide the angel investor who wants to invest in you is the right investor, because I might be deal with them everyday. 2) Once I do have the funding what are the usual things I need to consider. Trying to understand how the funding should be alloted. Does the angel investor tell me where I should invest to pivot my innovation (because its his cash) or do I need to make those decisions. 3) What do most entrepreneurs do when they receive funding from an angel investor? FYI : I'm in the R&D industry and do have a working product.
If you have to ask what you should do once you have funding you may want to stick to your corporate job. Real talk
1. Investors do NOT invest in ideas. It does not matter how cool or innovative it is. They don't give a shit. The only way you will get money from investor with an idea is if you have raised capital from them before or you are an industry veteran who has built a track record in the corporate world. The latter is still a tough sell.
2. You need an MVP, Proof of Concept, something tangible to show that you have thought through this and market validation. This will determine based on industry.
3. No one cares for business plans. Seeing is believing. Projections, estimates, it is all bullshit.