Forget Venture Capital

In this article from the Pittsburgh Business Times, Michael Brocks, of Michael Brocks and Co. advises small business owners to be realistic about seeking venture capital, stating:

"So, who qualifies for VC?

Star-quality leadership. The market defines a star as someone who has taken a startup from zero to $50 million in revenue.

Proprietary technology. The technology must provide a competitive advantage in an industry with very strong growth prospects over the next five years.

A top-tier management team. Before Google had its IPO, it hired a cadre of very seasoned executives who had a history of successful IPOs. The CEO of Google is 18 years older than the founders.

A large potential market. The target market must have the potential of generating at least $1 billion in revenue.

Proven market adoption. The best companies will have made sales to blue clip customers before they are funded.

If you do not meet the above criteria, you should seriously reconsider the VC route. "