Venture Capital Not Required

Posted by on October 25, 2007 at 8:18 pm.

This post is for all those entrepreneurs who are building great businesses, but have no need or interest in venture capital. Given all the emphasis on venture capital from pundits, startup mags and regional entrepreneurship organizations, it’s easy to lose sight of the fact that venture capital isn’t a requirement for building something great. In fact, many of the best entrepreneurs in the world never step foot on Sand Hill Road or similar VC hotspots across the globe.

I met with one such entrepreneur last week and was impressed with all he has accomplished with credit cards and cash flow. He has big plans for next year, probably doubling or tripling his business. I see plenty more opportunity with the addition of smart capital, but I tried to restrain myself. My focus on building $100 million+ to $1 billion+ businesses comes too natural/narrow from being a VC, and sometimes you have to sit back and appreciate the handywork of an entrepreneur who is content and proud of building his $10-20M vision.

Whether your business is in services, food, entertainment, real estate or any number of unlikely spaces for VC, take comfort in what you’ve built and don’t change your vision just to match what other people say you should do. Build what feels right, change some people’s lives along the way, and if the high growth nature of venture matches your goals then give me a ring…

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