Many aspiring entrepreneurs think they have a big idea, but few truly are, says AOL co-founder Steve Case, who invests in startups through his venture-capital firm Revolution LLC.

"Most companies are not big ideas, they're small ideas," Case says. "They're just trying to do something in a modest sort of a way." What Case looks for when funding a startup is a team intent on executing a revolutionary idea, one that has the potential to be a big company.

In this video, Case outlines how a startup can capture his attention, as well as some of the most common red flags that almost always kill a deal.

Tomorrow: Steve Case on What Makes a Successful Entrepreneur

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