I think there are two key components: * Build something that someone will want to buy. Something awesome that solves a real problem elegantly, that's proven it

I think there are two key components: * Build something that someone will want to buy. Something awesome that solves a real problem elegantly, that's proven itself by garnering users, and that would fit well in an acquirer's business. * Closely related to that: don't be a giant, money burning machine. Really cool ideas (i.e. unlimited free music) are often implemented with intractable business plans. Being far from profitable will make any buyer think twice about you.