The Silicon Valley New Tech Meetup finished this month’s event strong with a wonderful presentation on fundraising by Bill Hunt, entrepreneur at large. Nothing will inspire fellow entrepreneurs (me anyway) like a tactical list of action items to check off; especially when shared from a proven veteran. The following is my take away from that presentation.

Note to self: the goal of the first pitch is to get a second pitch.

Make sure things are easy to visualize with a demo or mock up if necessary. VCs normally give an hour time slot, be prepared to give a 30 minute presentation leaving room for questions and answers. Adjust your pitch on the fly if necessary and have back up slides prepared for the zinger, could be beneficial and make you look even more prepared. Also, be aware of how you run the meeting and the confidence you convey. They are, after all, considering giving you money.

Know what problem or pain you’re solving and how deep that pain is. Talk about your unique solution and things that set you apart from the competition. Talk about your team and any patents or potential patents you may have that overcome roadblocks others can’t.

Talk about the market size, validate with third party data and potential. Make sure financials are realistic and are in line with the market size. Don’t be too aggressive with financials; VCs have a really good memory for numbers. Have a go to market plan and realize that how you plan to execute is critical.

Finally, remember to consider what value beyond the dollar particular investors will bring. Know what industry expertise a particular investor has, what they are currently looking for in a potential and what size investments they are making now. Is their portfolio complimentary or competitive?