If you’re an accredited investor and you actively manage your investments, you’ve most likely been approached by private firms offering you the opportunity to invest in their next project. Or you may be asked to be an angel in the financial sense and fund a promising startup. If you haven’t been approached oraccredited investor perhaps you’ve recently reviewed a possible investment, here are four questions all accredited investors should ask before moving too far with a project.

Clear Concept. First, do you truly understand what you’re going to be evaluating? Is the business model clear to you and the facts all laid out for you and your financial advisor to review? Understanding an investment means more than just looking at a spreadsheet. Be crystal clear about what you’re looking at and how the opportunity will work.

The Crew.  Who are the principals involved and what sort of experience do they have implementing and managing a venture? Is the opportunity presented relying more on gaudy numbers or on the ability of those involved to push the project past the finish line? Make sure the leadership team has the sufficient skill sets necessary.

Does It Fit. Where are you right now in your investing career? How many years until retirement or if you’re retired now, do you plan on living off of the returns and leaving the rest to your heirs or do you care whether or not you tap into your capital accounts?

The Strategy. The strategy consists not just on the initial business plan but who is the customer? Who will be buying or using the goods or services provided by this team? Is the exit strategy a clear one? Is the opportunity just like similar businesses or is there some type of advantage or nuance applied that no one else currently employs?

These four questions may be asked by you or your financial planner or both at the same time but if you’ve established yourself as an accredited investor, at some point soon you will be approached with an Investment Opportunity. When that opportunity presents itself, by answering these four basic questions, you’ll know whether or not the venture needs further consideration.