VCs have all seen umpteen business plans, so don't project growth that few startups in history have ever achieved. "Most business plans magically assume revenues of $5 million by year two and $50 million by year five," says McIlwain of Madrona Venture Group, which led the syndicate that backed Apptio with $7 million. "I'm interested in the 24-month plan that lays out milestones showing how a company plans to create and capture value."
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