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By Michael Evans and Jeff Bernel

Funds raised from investors for venture capital investments hit $32.97 billion in 2014, a 62 percent increase over 2013 and the highest total since 2007. According to the Wall Street Journal , fundraising was up across the board, with venture firms focused on early-stage investing showing an increase of 33.1 percent, late-stage up 41.1 percent, and multistage up 157.2 percent, according to Dow Jones LP Source. Multistage VCs raised the most, with $13.52 billion, followed closely by early stage fundraising, with $13.04 billion.

There are the headline-making venture capital fund buyouts such as Facebook’s purchase of WhatsApp for $19B as well as Facebook itself, which started with venture capital money.

But there are also many smaller success stories, and your company could be one of them. But first you need to know what venture capitalists are hoping to hear when you present to them.

Here are 15 key rules to help you prepare the perfect VC pitch:

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The Business Idea

What the venture capitalist is thinking: OK, I looked at 10 opportunities today. What am I going to be looking at for the next 45 minutes? Why should I be enthused? Is this really an innovation that has potential to define a new category?

Rule #1: Be concise and convincing. Express your idea in one sentence. Describe a big idea that has potential to earn outsized returns and generate real wealth for investors.

What the venture capitalist is thinking: Is this market/opportunity big enough to yield a highly valued investment? It is growing fast? Are there changes in market structure, technology, business models, etc. that are creating room for an innovator and making the entrenched companies nervous? Are there barriers to entry that will make it difficult for competitors to copy or replicate the innovator’s success and position it for sustained growth and market share leadership?

Rule #2: Describe the opportunity you have to create revenues and margins by disrupting the existing industry, your total available market/return, and what your revenue would be if you got 100 percent of your target customers paying what you expect.