I would say that depends what you are talking about.
If you have a product you would like to create you need to best explain to people why it would benefit them. For example, this summer I was raising money and finding sponsors for a ski show that I make in the winter time called SnowChasers. In order to do that I need to somehow explain to potential businesses why being affiliated with us would generate more income for them. What I did was create a media kit with all of the viewership statistics from our previous videos and put them into an online media kit that was professional looking and also easily viewable. You can check it out here:
This way when you approach somebody you look credible and serious about the proposition and people don't think they are just going too flush their money down the toilet. Having proven success with a product is what most people want to see.
The same thing can apply for starting a business. However, when I started my business I saved for a year at my old finance job so I wouldn't have to be affiliated with anybody else. That way when you start your business you have all the money needed for the equipment (cameras, computers, insurance, makreting, etc.) and anything else needed to start your operation. If you need to approach people to invest in your business, that is something I would do a year or two down the road. Running a business isn't easy and knowing that you can handle the stresses that come with it before taking on a partner is the most important thing.