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4 leading venture capitalists offer their takes on the ups and downs of VC investment, what captures their attention and the best ways to seek out VC money.


The Voices of Venture Capital - Entrepreneur.com

By SARAH E. NEEDLEMAN

Before committing to a solo public-relations practice last year, Saverio Mancina emailed more than two dozen executives in his network to find out if their companies would consider hiring him on a project basis. Then, he consulted with industry colleagues through social-networking sites like LinkedIn for feedback on his proposed business model.

"The question I needed to answer for myself was 'Would clients pay a certain rate to work directly with me or would clients want to know there was a team behind me?'" says Mr. Mancina, who at the time was anticipating a pink slip from his employer of five years.

Ray Ehscheid

Saverio Mancina asked more than two-dozen executives if their firms would consider tapping his expertise before he launched a solo public-relations practice last year.

When he was indeed laid off about four months later, Mr. Mancina, who is based in New York, says he felt confident moving forward with his solo plan. Today, he has 10 steady clients and earns about 85% of his previous income.

Do Your Homework

If you're financially motivated to launch a business, you may be tempted to simply jump in. But experts strongly recommend first taking the time to do some research to determine if your venture has legs to stand on. Otherwise, you could end up in worse economic shape.

"Once you've started a business, you've already invested a lot of money and time," says Andrew Zacharakis, professor of entrepreneurship at Babson College in Wellesley, Mass. "If you find out afterward that consumers don't want what you're selling, it can be very hard to make a midstream adjustment."

One way to explore a business idea's feasibility is to solicit the opinions and advice of experienced professionals in your target industry, even prospective competitors. Mr. Zacharakis recommends starting at trade shows, seminars and other business events if you don't have specific contacts in mind. Ask people what they like and don't like about your planned venture, if they foresee any obstacles to building it, and what suggestions they might have.

Also go directly to your target market and ask about their interest in your product or service and how much they'd consider paying for it, Mr. Zacharakis says. If you plan to sell a product or service to pet owners, for example, you could canvass dog parks, groomers and veterinarians' offices.

Low-cost services like SurveyMonkey.com and Zoomerang.com let you compile a survey online. In general, you pose a question and select answer options, such as multiple choice or fill-in-the-blank. Then you receive a Web link that you can post to your Facebook page, Twitter feed, personal blog or other website. Continue Here

By EMILY MALTBY

Where's the money? The economy is on the mend. The government has launched a boatload of programs to get small businesses financing. President Barack Obama has urged banks to give the companies a "third and fourth look" before rejecting them for loans.

Yet entrepreneurs are still struggling to land credit. Only half of small businesses that tried to borrow last year got all or most of what they needed, according to a survey by the National Federation of Independent Business. In the mid-2000s, 90% of businesses said they got the loans they needed.

What's going on here? Why is the credit crunch alive and well when it comes to small businesses?

Part of the problem is that most of the government programs created to address the problem have focused on Small Business Administration loans, which total less than 10% of overall lending to small companies. But there's a wider issue at work. Banks and the government are trying to avoid repeating the mistakes that led to the subprime meltdown. It's a perfectly understandable goal—but it's freezing up financing. Click Here to continue reading...

Elevator Pitch Competition has been rescheduled for tomorrow at 2pm. Please bring 4 copies of a short write up of your idea to give the judges. You will have 2 min to pitch your idea to the judges for the chance of making $250! We hope to see you there!!

CEO

The Spring 2010 Business plan competition has been canceled due to lack of entries from students. This is unfortunate news but understandable. We will keep you posted on future events! Check back often for additional information!!