So I have startup idea and I have implemented a fare bit. We hope to launch a private beta in the next couple of weeks. Right now I bootstrap this besides my day job.<p>My question is: Should I keep slowly boostraping or should I start talking to angels? What other benefits besides money does a good angel have? Should I care about his connections or will the product sell itself if its good enough?
I wouldn't talk to angels at this point, if I were you.<p>If you're able to bootstrap your way through your private beta, do it. If possible, I'd hold off talking to angels until you've found a repeatable, scalable customer acquisition processes. If you manage to do so, you'll be in a much stronger position with the angels, and you'll also have a clear idea on how to effectively use the money raised.
Think of some Angels as potential partners. Select those which advice, help, network can help you and start the conversation. Seeing that you do not need their money will make them more interested in your business in the future.
You should talk to angels, in my opinion: fundraising takes time, and building greed / need in the investors takes time. Since you don't need their money, now is the perfect time to go see them.<p>You'll find a wide range of personal suitability (connections, meeting of the minds, smarts about your space) in the meetings, so definitely worth doing.<p>Now, if your product doesn't need money because it's paying for itself, then you DEFINITELY should go talk to investors a) because you'll come away feeling awesome about yourself, and b) because you'll be able to command some truly awesome pricing.
There is no harm in talking to the right people at anytime. It does not mean you have to raise money right now or that you even find the right partner but you will learn a lot about the business and yourself along the way. If the question is should you take money, you are in a much stronger position when you have traction (however you want to measure that).
I like to think of angels like Nitro in a car...helps you with short term rapid acceleration (making connections, early funding, a sounding board to bounce ideas off of, etc..)<p>EDIT: So my answer is yes, you should start talking to them.
Angel will not make your product fly if it is a heavy one. If you think the opinion of Angel can make it a better product contact them else focus in your goal until your product is ready for market.