Watch this neat video from the Kaufmann Foundation and you’ll see that the vast majority of new startup businesses don’t need business angels or VCs or banks.
That is, if you can use your own savings, friends and families and then generate enough cashflow to grow the business.
Unless… you are in a race. That is that you are rushing towards a new market or emergence of a new piece of technology that is inherently copyable and therefore the only way to protect what you do is to be the market leader or the number one brand – google, facebook, twitter are all great examples of these sorts of companies.
Here’s the video