Build a Successful Business: The Entrepreneurship Collection (10 Items)

Strategy vs. Tactics from a Venture Capitalist

ARTHUR ROCK

Executive Summary

ONE OF AMERICA'S LEADING VENTURE CAPITALISTS — he helped finance Fairchild Semiconductor, Teledyne, Apple, and other companies—discusses what he believes most important for entrepreneurs to create successful, thriving enterprises. some of Arthur Rock's insights, gleaned from 30 years of evaluating business proposals, include:

• “Strategy is easy, but tactics are hard.” The key to turning a good idea into a good business comes in day-to-day management of the company. For that reason, Rock says, he doesn't evaluate financial projections in business plans. He looks at the people— particularly the financial people—involved with any business start-up.

• “There's a thin line ...