Business 2.0 has tips for entrepreneurs:
Most venture capitalists will tell you that they invest in people, not business plans. They like experienced entrepreneurs they’ve worked with before. With luck, you’ve got one of those people on your team, preferably as CEO. But if you’re not a veteran and can’t find one, don’t fret.
A common misstep is to pitch the wrong partner at a VC firm — that will get your business plan nixed immediately. Find the partner whose expertise aligns with your business and send that person your well-honed executive summary. (Save the full-blown plan for later.)