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Have the technology. A clever idea just isn't going to cut it anymore. You need the working technology behind it.
Build a good management team with veterans experienced in development, sales and distribution.
Have a good business model. Be able to specifically explain how you will be able to build, distribute and sell to a lot of people.
Identify your competitors and know their strengths and weaknesses. Never say you don't have competitors because that probably means you don't have a market.
Identify your customers. And don't tell the venture capitalists you're in a $56 million market because as a start-up that will be far out of your reach. Find a niche.
Develop partners with brand names that will help you build your business.
Develop channels.
Tell them how your business is going to change the world. Being able to make something 15% faster is not going to gain you funding.
Skip your cousin the lawyer. Find a lawyer who specializes in venture capital and make sure that person is well connected.
Think through your financial projections. An investor won't fund you because of good projections but that person will decide not to fund you if your projections don't make sense.
Don't talk about retaining control of your company. Talk about building the business.
Show them how you can be profitable in 18 or 20 months, or forget it.
Tips to get the funding your business venture needs
 
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