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is what venture capitalists look for in an entrepreneur. They want to invest only in companies whose management is 100 percent committed to the company's success. They want management's full-time attention. Starting a new business is an exhausting and all-consuming endeavor. Entrepreneurs often work more than twelve hours a day, day after day, seeing to all the details that make a company succeed. Weekend work is common. In the process, family relationships can suffer. Investors understand this. They want to know that the entrepreneur and his family understand as well and are prepared to make the sacrifices required. Investors also expect entrepreneurs to take their companies as far as they can with their own resources. Investors do not like entrepreneurs who hedge their financial bet on the company. If they invest their money, they want to know that the entrepreneur has invested his money too. Entrepreneurs who retain an unreasonably large safety net of cash outside the company make some investors nervous and, thereby, reduce the likelihood of receiving funding. See: Entrepreneur, Ethics, Zeal. |
