Many people see great inventions as lucky breaks that simply fall into the laps of innovators. In reality, there are several steps that go into coming up with a great idea, let alone turning that idea into a successful product.

Congress is encouraging banks to move up the "risk curve" by helping banks make loans which, without the "stimulus program", they would never make because the loans don't make economic sense.

If you assemble a group of smart people who know your industry, they have already assimilated the mass of information. The answers are in the room and not on some manufactured spreadsheet.

As both an entrepreneur and venture capitalist, I've sat on both sides of the table. Here are the seven secrets to what VCs are looking for as they consider who to invest in: