The product should be able to be used within acceptable time and cost parameters for customer satisfaction. The deal must be favorable in that it should balance the needs of the founders, employees, VCs and investors b . Future funding requirements must clear and reasonable c . There must be a concrete path to liquidity when the company goes public. The venture must be situated in a favorable location.
Personal introductions are the key.
Pursue several lines of financing as back-up options. Recognize that your process is being evaluated at all times. Go as far as you can to show business traction Build a business, not just a product or a feature. Know your business customers intimately. The VC will always contact your customer to evaluate the business Don t get overly hung-up on valuation.