[akchin]

In general this is good advice. However I would advice against depending too much on VCs. They don’t really get it right a lot of the time. At the end of the day it is the caliber of the team, the sales/customer acquisition strategy and the competitive dynamics of the market and the position of the company within this market. So the first part about judging the team is valid. The answers below about asking questions about sales/acquisition is very good. Depending on the stage of the company, you should also ask about profitability or if there is a clear path to profitability.

Also don’t shy away from asking challenging questions...such as competitors etc. and be wary of a CEO who is dismissive of challenges. You should get a well thought out answer.