Depends on how far into it you want to look.
I personally take a look at the industry you are distrupting, how big of an industry it in in terms of USD, and if there are any other blockchain players looking to take market share as well.
I'll look at the team from there, experience in the industry should be the CEO/CFO, the tech side needs to have a hybrid of blockchain and non blockchain experience
From there, it's the development of the project. How far in are you, testnet, mainnet, alpha, beta, app store?
With all these ticked, it's on to the final piece of the puzzle.
PR, Marketing and community buzz.
With everything before this ^ you can have a grassroots effort and raise 500k-2 mill.
With this, you can push 20 mil + it's all about scaling the campaigns
One of the best methodologies out there at the moment is GDAX's
https://www.gdax.com/static/digital-asset-framework-2017-11.pdf