Thanks Dr Earl, I found your article very aposite

One of my biggest criticisms of entrepreneurs seeking funding, is that they expect cash to be deposited on a plate in front of them. The best ones I find are already selling some form of the product or solution to clients and need funding for ‘doing it properly ‘ or to a larger scale.

Keep up the good work

Great article. I think the dot-com boom overinflated strategies for raising money. The tried and true strategies have always, and will always, be best. Your article (coming from someone as distinguished as you) affirms that.

Another great article written by the man himself… Thanks a lot. Keep it coming Earl.

As an enthusiastic reader of your column, I was disappointed that you did not offer “accounts receivable financing” as a viable option to secure working capital for growth. Certainly much less expensive than equity (angel, venture), easier to obtain right now than a bank loan, invoice factoring has stepped in to play an important role during the downturn in the economy. The challenge here being than many entrepreneurs, like your readers, are unaware of factoring and have no idea it has many benefits. With credit card rates being what they are, the old saw complaint of cost is no longer pertinent. Happy Holidays! and best wishes for the coming new year.

Gary, thanks for your comment and addition to the list. Accounts receivable financing can play a role in providing much needed capital. Most early-stage should focus on generating revenue as a priority. Many do not.

A brilliant summary as I have come to enjoy from your writings. (Although I wish you had written these articles some 12 years ago before I started down this road). I agree with your article as I have gone down many of the same funding venues you discussed here.

I think one thing I would add, is that being a “startup” is not necessarily just the early stages (typically in the first year or two), but you can be successfully bootstrapping with customers funding part of the endeavor, be profitable and still be essentially a “startup” five years on before you are finally at a level that could interest angel investors and another 2-3 years before you are of size ready for venture capital.