More than ever investors are looking for a strong management team. The market is more focused on execution, as the distinguishing characteristic for successful companies. Its amazing how many startups still can't explain their business in a short elevator speech. Sure, a lot of this technology is complicated, but you should be able to explain it to anyone. Most folks who are seeking funding need to learn more about communicating their message to VCs quickly and easily.
Preparation is everything.
All four of these items require sufficient preparation to be effective. The preparation of most folks seeking funding varies widely running the gamut from very good to very bad. The biggest missed opportunity is the failure of people to segment their market to understand how big their opportunity really is. The quality of preparation has improved as the market has gotten more mature. Also, since there is a belief among entrepreneurs that the market for funds is tighter, they are leaving less to chance, and are spending more time on their business plans and presentations.