Perhaps the most important success factor for a venture firm is to ensure that it has a strong, high-quality deal flow.

Deal flow is like getting "at bats" in baseball. If you get enough pitches, eventually you'll learn when to swing and hopefully knock one out of the park.

But the best deals sometimes arise from situations where the opportunity had to be created.

I hear too often from people that they are waiting until the right deal or idea comes along and when it comes they'll be ready to strike. This is a rather passive approach. Successful business leaders and investors are proactive hunters, creating ideas where they did not necessarily exist.

They can handle some ambiguity, believe deeply in themselves, and understand that the starting point may not be perfect. If it's approximately correct as it can serve as a means to a bigger goal.

Folow the link below to read the entire article in a new window:

http://blogs.harvardbusiness.org/tjan/2009/11/dont-wait-for-the-right-deal-t.html?cm_mmc=npv-_-DAILY_ALERT-_-AWEBER-_-DATE

Anthony (Tony) Tjan is CEO, Managing Partner and Founder of Cue Ball, a venture and early growth equity firm investing in the information media and consumer sectors. As an entrepreneur, investor, and senior advisor, Mr. Tjan has become a recognized idea generator and business builder. Most recently, he was Senior Partner with The Parthenon Group, a leading strategy consulting firm where he continues to serve as Vice Chairman. He was also a long-standing special advisor to Richard Harrington, the former CEO of Thomson Reuters Corporation (NYSE: TRI), the world's largest information services company. Harrington recently joined Cue Ball as Chairman and General Partner.