Traction
I've been doing a series of posts on the Union Square Ventures weblog where I talk about some of the things we look for in the companies we invest in.
The most recent post talks about how much "traction" we need to see in a business before we'll pull the trigger and invest.
It answers a lot of the questions I get from readers who email me with business plans so I think its worth a read for all the entrepreneurs out there.
I agree the cost of entry has come down, but I am curious how entrepreneurs should fund themselves to get to traction? Should they seek Angel funding? And if yes, at what stage (even Angels want to see traction, albeit probably to a lesser degree).
I had a friend in this situation and he was unsure of what to do. Details in this post -- http://shripriya.com/blog/2006/10/04/when-to-raise-money/
Posted by: Shri | October 04, 2006 at 01:39 AM