VCs are going to ask you tough questions in the meeting.  The answers to some of the questions may not present aspects of your business in the best light.  As a result, lots of entrepreneurs try to dodge these quesitons.  That's a bad idea.

When an entrepreneur tries to dodge a question VCs know it and it makes them suscpicious about the plan and the management:

• It makes VCs think that they have found the achillie's heel of the business plan, and
• It makes them think that the entrepreneur is not going to be an honest partner in the future.

Attempting to dodge quesions isn't worthwhile.  Most business plans have some riskier aspects - VCs expect this.  There are three reasons why it benefits entrepreneurs to be open about these weaknesses:

1. Trying to hide them is a waste of everyone's time; VCs are going to spend weeks to months thinking about your business.  They'll find them eventually,
2. VCs may be able to help fortify these weak points in the plans, and
3. You want to build an honest relationship with a VC so that they will feel compelled to work with you on this and future endeavors.  Being open about weaknesses will foster this relationship.

For these reasons, you should answer all questions directly, even ones with answers that are weaker than you would like.  For example, if you do not yet have paying customers, when asked if you have paying customers, do not skirt the question with an answer like “We are in the midst of contract negotiations with Company A. We had a great meeting with them this morning…  [etc.].”  Instead, say something like “No, we have not yet generated our first revenue, but are in contract negotiations with our first customers. Would you like to go through our sales pipeline?” 

Be a straight shooter when you're speaking to VCs.  It will help you develop the rapport that you need with a partner that can help you build your company.