Great article here about
Four Ways to Get Rejected by An Angel Investor.
These four items should be taken to heart!
In particular, pay attention to Competitive Positioning. As the author describes, angels are not taken in by competitive positioning charts which show your offering as the best in every single category, its just not possible! We would rather see a realistic analysis, showing where your offering is truly unique and innovative, and how it meets an underserved market need, along with what other companies do well compared to yours.
Remember: sharing the good, the bad and the ugly gives you much more credibility. It is very impressive for a CEO to be able to say, "we don't do that as well as our competition, but here's why we're not worrying about that for right now"...