A Web-development project manager understands the costs and timing of realizing the entrepreneur's vision. He'll know when he's dealing with a weak Web developer. We have four businesses up and running and three more that we're working on. We expect to invest in 10 or 15 by the end of our first full year of operation. We say four months to launch, with the site up and running.
Nobody writes business plans anymore.
It's not something we would ask an entrepreneur to put time and energy into, although occasionally an entrepreneur will show up with one he has already done. In Internet circles, nobody has time or interest in an entrepreneur writing up a 100-page document. After meeting with an entrepreneur for a couple of hours and reading a couple of pages on the idea, I can tell if it's a business we'll back. Usually the idea an entrepreneur comes in with is good. But often the ideas aren't buildable in a practical sense.