Timing is everything. In a start-up situation, it is sometimes the only thing. Given that all else is equal (ceteris paribus as the economists like to say in Latin), timing is what makes the big difference. There are two aspects to this: one has to do with ‘speed of execution’ while the other has to do with ‘executing to schedule’.
Raising money from venture capitalists can take anywhere from two months to six months. It is, therefore, important to have timing down to a pat. A lot of things can go wrong and they usually will. A few things to keep in mind: do not raise money when you are down to your last paisa. Start the fund-raising process when you have 6 months money in the bank and when you do not really need it.
You should, therefore, develop the ability to move in quickly and close a deal. While it is all very well to deal with amorphousness and ambiguity, and a start-up does offer enormous opportunities to deal with both such situations, their needs to be a clear laser-like focus on achieving milestones. You should be the person controlling the pace of the negotiations and discussions and for that you need to have a very good understanding of timing—basically, of when you need the money, what you should have achieved and will achieve over the fund-raising cycle and timing regarding when you want the money in the bank.