I will one day do a longer post on this – from my own experience as the one receiving pitches from entrepreneurs. But in the meantime I can the summary in this presentation by Venture Hacks. I agree that please do not send me the long word-documents that business school entrepreneurship profs are still teaching their students to write. I really don’t find time to read through them. Be concise, clear and to the point in your .ppt decks.
By the way: If you are an entrepreneur looking to raise funding (esp for the first time), you would really be wise to check out venture hacks first. There is a wealth of information to make you wiser before you send off that email to a VC.