"I think I was almost as nervous as my first VC meeting from the other side. Thankfully, the CEO was a pro. In every way. If you're planning on trying to raise VC, you could learn a thing or two from the gentleman that presented today. I know I did.

1. Be prepared...know your information cold. Now more than ever post the dot-bomb explosion the remaining VC's are smart. Very smart. My first meeting the VC knew more about my space than I did. Not good.

There's nothing like presenting a slide, having the VC ask a very insightful question, and answering that VERY question simply by turning the page. (When this happened I actually saw John (the Managing Principal) grin...

2. Be picky. Interview the VC back. Politely. A good match is important. The right VC brings far more than money to the table. You want to get funded by a firm that can open doors for you too...that knows the right people in your space to help you when money alone can't.

3. Do your homework. Know the VC's history. Brush up on the deals they've done if that information is available (it almost always is on the web or somewhere.

4. Be patient. You never know why you might be kept waiting for an hour while you sit there and feel self conscious in the lobby. Today John was fielding calls about a buyout for one of the companies he invested in. You've got to understand why that would take precedence..."