When you start to raise venture capital for your company you’ll quickly find there’s a common process each venture firm utilizes.

Once the partners have agreed to make an investment in you, their offer will come in the form of a term sheet.

You have to appreciate the fact that these firms are constantly pitched by every entrepreneur with an idea, so their first order of business is to separate the serious entrepreneurs who want to raise venture capital from the crazy ideas they want to run away from!

Every entrepreneur looking to raise venture capital goes through roughly the same process. They start with an introduction to the firm, get invited to pitch, make their way through a few successive meetings, and eventually wind up pitching the ...