Monday, November 21, 2005

You still need a plan to get VC interested without a business plan

David Cowan of Bessemer Venture wrote a very interesting article about how not to write a lengthy business plan when raising fund. While the idea sounds very cool for "lazy" entrepreneur like myself, I know in reality unless you either (a) are reputable, or (b) have reputable references, or (c) conner the VC so (s)he can not run away easily from you, otherwise, your PPP will still have no life at all. Maybe I am too pessimistic, but from my experience rule (a), (b) and (c) still work the best. So for entrepreneurs, spending times knowing some of the VCs personally or making friends who might refer you to them will guarantee that your PPP will have a life, or at least be read. Meanwhile, many VCs are coming out of the shell and actively searching for entrenched innovators , so posting your interest or profile on linkedin may worth the effort sometimes.

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