The Clueless Entrepreneur
- Topics:
- Venture Capital
- Source:
- Billsnow.com
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Overview: The article points out the fact that ideas are useless without a company. One neophyte suggested a "great idea" was “one that leads to a very profitable business if properly executed and adequately funded.” The bottom line is the vast majority of VCs invest in existing companies that already have sales. VCs do not make investments in order to do the work. That is the entrepreneurs’ job. VCs provide the financial backing and they will naturally be involved in the operations of the company. But the roll that most VCs will take is similar to that of a board member. Entrepreneurs seem to have an uncontrollable urge to seek venture capital, whether they can raise it or not. Many entrepreneurs seem to place their initial energies on obtaining venture capital. Instead, they should focus on building a company and generating sales. Ultimately the article boils down the idea that entrepreneurs must mitigate as much risk as possible
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Format: HTML | Date: Aug 2003 | Pages: 1
