[lucasgw]

Sales and Faith. With a pre-revenue, pre-launch company, from the entrepreneur's side, it is pure sales. And from the investor's side, it is pure faith.

Build a good story, believe in it, and sell it. I can build a financial model with the best of them. But as Brad Feld once said about all early stage companies, "Your revenue forecast is wrong." You have to believe enough in yourself and your company to convince someone else to believe in you and back that up with cash.

It's a bet and always will be. And like any bet, some are more sure than others. But lots of "sure things" fail, and more than a few long-shots win and pay out big. Sales and Faith.