What many entrepreneurs overlook in their fundraising process is aligning their business with the motivations and business strategies of potential investors. Different investors focus on different stages, deal sizes, and investment areas. They have different limited partners, fund sizes, target returns and existing portfolios. In other words, you may have a great idea for a startup, but if it doesn't fit the investment thesis of a particular firm, they aren't going to invest.
For venture capital firms, in particular, they typically look for companies into which they can invest a fair amount of capital, and ones that have the potential to provide outsized returns. A business could have fantastic fundamentals -- growing, profitable, etc. -- but if it doesn't have the potential to be a break-out success, it's probably not an appropriate VC investment. Many businesses that may seem like silly ideas at first, are often the ones that have the possibility of achieving that break-out success because they challenge conventional wisdom. As an entrepreneur, it's critical that you are realistic about what your business can achieve and then target investors whose investment focus aligns with your business.