TOM EVSLIN'S VIEW ON VENTURE CAPITAL

I forgot to put up this this excellent post by Tom Evslin from a few weeks back. If you're an entrepreneur or want to be in the future, read part one and part two. Summary points:

Lesson #1: there are times when raising venture capital is a bad idea.
Lesson # 2: there are times when it makes sense to raise venture capital.
Lesson #3: raise your venture funding as late as possible.
Lesson #4: pick your VCs well.
Lesson #5: ask VCs about their firm’s “exit strategy”.
Lesson #6: look for VCs who can and do distribute.
Lesson #7: check VC references.
Lesson #8: Choose VCs you’d trust with your own money.
Lesson #9: use your VCs relentlessly.
Lesson #10: push to speak to the Limited Partners.