This had me laughing hard

While I use this blog to write almost exclusively about fitness and my new found interest in running,  my real life is a bit more diverse. I have been helping a friend refine a business plan for his company (in part to submit it to a local business plan competition). They have largely been boot-strapping it but have hit a point where it might be time to seek venture capital. He and his partners are understandably a bit nervous about this process. I came across a post today about getting venture capital that had me laughing out loud. Here’s an excerpt. Click the link for more information.

So I’m in the meeting: we’re discussing the state of our market and I get asked the question:  Why enter this market now?  Why not wait until there are 4 or 5 competitors and a couple of major analysts covering your market?  The preamble by the questioner was along the lines of “we agree with your market premise – that what you’re doing is where the market will go – and we agree that you’re first in the market – and we love the team”.  My answer is well – it’s “venture” capital isn’t it?  I mean – it’s not “everything’s assured” capital is it?  This is our profession is it not?  You’re the venture investor and I’m the risk-taking entrepreneur.  We form a symbiotic relationship that in the best circumstances rewards our risk taking. …

Posted in Education, Entrepreneurship