Invest in a copy of Pratt's Guide to Venture Capital Sources (Venture Economics, annual). This tome tells you which industries different VCs play in.
Never send your plan cold — always get an introduction. VCs don't play nice with strangers.
Make peace with losing control. If you take VC funding, they own you, not the other way around.
A version of this article appeared in the May 2005 issue of Fast Company magazine.