Preparation is critical for impressing potential investors. Startups should first create a compelling pitch deck that outlines the problem, solution, market opportunity, business model, traction, and financial projections. They should also conduct a thorough market analysis to understand the competitive landscape and articulate their unique value proposition. Practicing responses to common investor questions, such as those regarding revenue models, customer acquisition costs, and exit strategies, is also crucial. Additionally, having a clear understanding of the funding requirements and being transparent about how the funds will be utilized can build investor confidence.