Investment promises

You don't. A promise-in-ear is not cash-in-hand.

Promises of investment and financing can make you giddy and ready to go on a spending spree. Wait. Before spending -- or committing -- any investors money, follow these two rules in place:

1. Has ALL legal work been done? Have the investment papers been drafted by professionals, and have they been signed by both parties?

2. Is the money actually in your hands? It's amazing how often investment promises fall through.