1. Does the business idea/opportunity make sense?
2. What are the initial deal terms?
3. Who are the 1-3 lead investors?
4. Due diligence review
5. Revise the terms per the negotiations with lead investors
6. Begin roadshow process with other investors
7. Open escrow
8. Break escrow when the minimum is raised and continue the roadshow until the offer is full
This seems to be the most consistent process and deals that have tried to skip steps tend to have a hard time.
