Even after having been reading every single blog posts from the likes of Fred Wilson, Brad Feld, Marc Suster, Ben Horowitz & Marc Andreessen for well over a year; and after having done online courses on Venture Capital and Startups offered by the Kauffman Foundation, as well as Stanford University, I have nonetheless found the following slide to be extremely useful:
It explains the deal killers for VCs when getting pitched.
It paints a realistic picture of where one stands.
It provides a road map in order to address the situation, if one wishes to become fund-able.
It came from a talk given at the MaRS Discovery District in Toronto by Michelle McBane.
Michelle manages in under an hour to also explain the entire term sheet in a way that can be understood -- not a small feat.
I highly recommend this video.
The direct link is https://vimeo.com/126259474.Raising money from venture capitalists - Entrepreneurship 101 2014/15 from MaRS Discovery District on Vimeo.