In addition to Chris' questions, you should also be ready to answer the following questions that Chris probably covered in his presentation before he got to the Q&A:
1) How much money have you made so far? When you're getting feedback on your idea over lunch, you might be asked "How are you going to make money?" But when you are being seriously considered for investment, you'll be asked "How much money have you made?" The majority of angel investors won't take a risk on you unless they have some sort of proof that you can make them money.
2) Who are you? Okay, they might not ask you that question exactly, but it's one of the questions they'll be asking themselves throughout your pitch. Studies show that the most important element of the investment is the entrepreneur -- more specifically, the passion and integrity of the entrepreneur.
I sat in on a pitch from a young company led by a crew of mostly stay-at-home moms with very little business experience. I heard nine other pitches that day from experienced entrepreneurs with tons of traction and connections, but the charisma and passion of this team absolutely wowed all of the investors. Based on what I have gathered since then, their enthusiasm likely lead to the funding of that small company. I'd bet on their success.
