7
Raising Capital
Introduction
As Gene Wang, a successful business owner, noted, for the entrepreneur who is in the capital-raising stage, there are four important things to do:
1. Never run out of money.
2. Really understand your business or product.
3. Have a good product.
4. Never run out of money.1
These are great words of advice, but for many entrepreneurs, accomplishing points 1 and 4 is easier said than done.
Several of the most common complaints about entrepreneurship concern money. Entrepreneurs repeatedly lament the fact that raising capital is their greatest challenge because there seemingly is never enough and the fund-raising process takes too long. These are not groundless complaints. Thomas Balderston, a venture capitalist, ...
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