When raising venture capital, make sure not to lose sight of the following basics:
- Know what you're looking for: Lead investors are key.
- Keep the lines of communication open: Form an advisory board.
- Obtain personal links early: Secure a good attorney (a link to possible investors) from the start.
- Be prepared for any issues investors may raise: Have a business plan and an executive summary at hand.
- Offer your investors instant results: Line up your references.
- Build a solid relationship with your investors: Get warm-body introductions.
Excerpted from Entrepreneur magazine, July 2001