Founders raising money can be in one of these categories:
a) Rookie: They bombard emails to all the investors and expect magic to happen. Some of them even automate sending emails using email software (e.g. ConstantContact). They measure the open rate and bombard more if any of the investors open the email. They don't understand what and how VCs invest.
b) Starters: They don't have time creating investors deck and getting to VCs. Instead, they focus on friendly angels who already know them and think highly of the team. They get to VCs via angels later in the journey.
c) Smarts: They focus on story, market-data, competition, team, product, and winning strategy. They do homework on the right firms and investors. They get introduced to right investors via "trusted" intermediaries. They know they are going to raise and it is just a matter of time for them to raise.
d) Experts: Their startup and setup is awesome. The team is awesome. Their background, insights, and plans are setup for massive success. They focus on getting traction and manage the message very well. Their success leaks among VCs. They get VCs to their doorstep. VCs use "trusted" intermediaries to reach the founders. The founders spend time with all the VCs. Investment happens when founders and VCs feel there is a good chemistry between them and VCs can add value to their growth beyond money.
e) Accomplished: These founders know the game of wealth creation. They build great companies using someone else's money and at the same time without diluting equity. They build initial success and use customer advances (or profits) to build the company. Once they get to scale, they raise with very little dilution from PEs. They may even decide to sell the company to strategics as most of the equity is with the founding team. It is not easy to convince them to take money from VCs.
So Founders, please don't be a Rookie. Do some homework about investors. Graduate to next level fast.
We as investors are doing our homework about you!!!