Welcoming a private investor in a company's capital is first and foremost a strategic decision making the bet, based on a company's potential, that growing faster and bigger together will create more shareholder value for all parties than for the entrepreneur(s) in a standalone mode. In other words, it is making the bet that this extra growth and size will make the dilution of capital worthwhile. An inherent risk is induced for both parties.

Such (abundant) Equity financing, compared to (small) self or (expensive) debt financing, is very attractive especially "smart money". Many are called but few are chosen: a typical institutional investor receives tens of cases per week and probably a European tiers one investor receives a couple times as many. Between those cases some are quite competitive... 

Many cases get rejected from the start not only because they directly fail in reaching VC's standards, but also because entrepreneurs do not always address the right investors for them, nor the right way, nor at the right time. Entrepreneurs tend to run those fund raising activities as they can according to business constraints, in a sporadic and inefficient manner, and if they reach some deal, it will usually take them about a year. The gain of time and efficiency going through us is the first obvious advantage.

There is often a sort of "gap of communication" between entrepreneurs and investors, sometimes a lot of frustration. 
On the other side, imagine a job in which one has to explain to 95% of people why their case is not good enough. To belong to this 5% "select" of growth companies in which they invest and to get a good deal, it is resource, network and expertise intensive. In such a "super-competitive" environment, going on that field sure of oneself, under or un-prepared is a pure waste of time and an expert approach is not only a "nice to have".  
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" If you're going to be thinking, you may as well think big "