Does it hold up? Is it a good deal for them? That's what matters.
For example, if you offer half of the company for $250,000, you're saying that your business is worth $500,000 total. Is it? Does it have a track record? Management team? Defensible product or technology?
If you have a good deal to offer, investors will be interested.
And if they are interested, they will want to see your business plan. That's where you make real commitments. The plan should include a lot more than you can put into a three-page document, such as projected income, cash flow, balance sheet, use of funds, stock positions and so on.
Tim Berry is the chairman of Eugene, Ore.-Palo Alto Software, which produces business-planning software. He founded Bplans.com and wrote The Plan-As-You-Go Business Plan, published by Entrepreneur Press. Berry is also a co-founder of HavePresence.com, a leader in a local angel-investment group and a judge of international business-plan competitions.