Here’s the problem:  Your “idea” may actually stink.  You may think it's a good idea, but that doesn't mean it will be good enough to secure new business funding. Millions of people "have a good idea" and frankly speaking, 99% of them aren't that good and even fewer are properly executed on.

Is the business fundable?

The biggest deal stopper is a business that simply is not fundable. So, how can you tell if your business is fundable? A fundable business will have a scalable business model and should already have paying customers. Here’s a great litmus test:  Do you have customers writing checks to you right now? That's the easiest way to tell if it's truly a good idea and a fundable business.

Must have potential for a huge return

Let's be realistic here. You probably didn't just discover a "$50 billion market that's completely untapped". And even if you did, don't state it like that or an investor will probably shrug you off. With that said, your business does have to have the potential for substantial returns or it's not worth the investor's time. "Substantial" is pretty subjective, but it's fair to say that your business should have the potential to bring in at least $10 million to make sense to any investor.

It's time to execute

Can you execute on it? Do you have a track record of successful startups? There's a reason that 9 out of 10 businesses fail. What will make you execute on it better than somebody else that comes up with the same idea or takes your concept when you come to market? And whatever you do, please don't say a patent--a patent won't cure everything.

People get around them all the time and you'll spend most of your own time trying to battle some guys in a garage half way across the world that have infringed on your idea. Besides, a patent won't help you execute on your business model and take your venture to the level that investors are looking for.