• Base the projections on realistic assumptions.
• Be concise, but complete.
• Be positive and enthusiastic about your company and product/service.
• Clearly explain the opportunity.
• Document how the products are different and better than what is available.
• Keep trying.
• Know your minimum deal and be prepared to walk away, if necessary.
• Let experienced business people read and critique your plan, testing it for clarity and reasonableness.
• Make a full disclosure of the possible pitfalls as well as the strengths.
• Proofread carefully to make certain there are no errors in grammar or math.
• Put together a strong management team.
• Remember this is a long term relationship.
• Research the investment criteria of the venture capitalists to ensure that what you offer is what they are looking for.
• Take time to study and understand competitors, addressing their strengths and weaknesses.
• Widen your network of contacts to give you more avenues of approach.

DON’T:

• Avoid answering questions.
• Focus on the technology (leaving out mention of the market, the competition, the customers)
• Give up.
• Have any typos, errors, repetition, junky charts.
• Make exaggerated claims about the product or the management.
• Predict you will capture “2% of a billion-dollar market…”
• Press for immediate decisions.
• Send the first draft of your business plan to the venture capitalists.
• Use four significant digits anywhere.