Mastering the VC Game: A Venture Capital Insider Reveals How to Get from Start-up to IPO on Your Terms by Jeffrey Bussgang

At an Association for Corporate Growth conference held this past June in Boston, Jeff Bussgang spoke optimistically about the outlook for Massachusetts in terms of job growth driven by technology and biotech.  He sees the next 30 years as very bright given the local combination of tech firms, venture capital, research, and the quality of higher education in the area.

His book provides insight into the venture capital business, reflecting the author’s own successful experience with two  v.c.-backed start-ups, OpenMarket and UPromise.  He describes the inner working of venture firms and what they look for: a strong business proposition, a good plan, solid and experienced management and, these days, some proof of concept, usually with revenues.

The downside is more implied than explicit, such as how choosy venture capital firms are (it is a high risk business), how you need to have connections to even get a plan reviewed, the difficult interview process, and the loss of control and equity which always seems to shock the founders. On the whole, though, a good primer for anyone raising funds for a start-up, whether you are looking for venture financing or seed money from Uncle Charlie.