DO:
Base the projections on realistic assumptions.
Be concise, but complete.
Be positive and enthusiastic about your company and product/service.
Clearly explain the opportunity.
Document how the products are different and better than what is available.
Keep trying.
Know your minimum deal and be prepared to walk away, if necessary.
Let experienced business people read and critique your plan, testing it for clarity and reasonableness.
Make a full disclosure of the possible pitfalls as well as the strengths.
Proofread carefully to make certain there are no errors in grammar or math.
Put together a strong management team.
Remember this is a long term relationship.
Research the investment criteria of the venture capitalists to ensure that what you offer is what they are looking for.
Take time to study and understand competitors, addressing their strengths and weaknesses.
Widen your network of contacts to give you more avenues of approach.
DON'T:
Avoid answering questions.
Focus on the technology (leaving out mention of the market, the competition, the customers)
Give up.
Have any typos, errors, repetition, junky charts.
Make exaggerated claims about the product or the management.
Predict you will capture "2% of a billion-dollar market..."
Press for immediate decisions.
Send the first draft of your business plan to the venture capitalists.
Use four significant digits anywhere.
