Do entrepreneurs focus excessively on landing venture capital?

In my work with entrepreneurs and new business ventures, I am often surprised to find how many of them are convinced that they cannot build a business without venture capital financing and how few of them have even considered the idea that there might be very good reasons why they should not pursue venture capital financing.  Forbes recently published a commentary by a former venture capitalist on this issue, who makes an excellent argument as to why much of the focus on venture capital is misplaced, and explores the downside of the lure of venture capital.  The link is posted below:

Why Venture Capital is not the first step to building successful startups.