Are you right for the venture capital business?

Guy (Kawasaki) has created an aptitude test, Venture Capital Aptitude Test (VCAT).

The main points:-

Part I: Work Background

What is your background?
* Engineering (add 5 points)
* Sales (add 5 points)
* Management consulting (subtract 5 points)
* Investment banking (subtract 5 points)
* Accounting (subtract 5 points)
* MBA (subtract 5 points)

Part II: First-Hand Experiences

You may have been in the right places, but you also need the right experiences in those places. Specifically, have you gone through these?

* Been kicked in the groin by a major, long-lasting economic downturn, so that you know how powerless you are. (add 1 point)
* Worked at a successful startup, so that you can speak first-hand about the ecstasy of entrepreneurship. (add 1 point)
* Worked at a failed startup, so that you understand three things: first, how hard it is to achieve success; second, that the world doesn’t owe you a thing; and third, what it’s like to be fired or laid off. (add 3 points)
* Worked at a public company, so that you know what the end goal looks like, warts and all. (add 1 point)
* Held a CEO position, so that you have this fantasy experience out of your system and will not try to run the startup from a board position. (add 2 points)
* Been an angel investor with your own money, so that you understand the fiduciary responsibility of investing other people’s money. (add 2 points)

Part III: Necessary Knowledge

Finally, can you answer these questions for entrepreneurs? Because this is the kind of advice that entrepreneurs need. (Don’t worry: many current venture capitalists would fail this part.)

* How do I introduce a product with no budget? (add 2 points)
* How do I determine whether there’s really a market demand for my product? (add 1 point)
* What do I do if customers hate our first product? (add 1 point)
* How do I get Walt Mossberg to return my call? (add 2 points)
* How do I get to the folks who run Demo? (add 1 point)
* How do I get a plug in TechCrunch? (add 1 point)
* How do I get the folks at Fox Interactive to return my call? (add 1 point)
* How do I dominate a segment when there are five other companies doing essentially the same thing? (add 2 points)
* How much time, energy, and money should I spend on patent protection? (add 1 point)
* We bet on the wrong architecture for our product; what do I do now? (add 2 points)
* What kind of people should I hire: young, old, unproven, proven, cheap, expensive, local, remote? (add 1 point)
* How do I get them to leave their current jobs without throwing a lot of money at them? (add 2 points)
* How do I tell my best friend that he can’t be chief technical officer just because he was a cofounder? (add 2 points)
* How do I get to the buyer at BestBuy to return my call? (add 1 point)
* How do I handle a customer who wants to send back his purchase for a full refund? (add 1 point)
* How do I fire people? (add 2 points)
* How do I lay people off? (add 2 points)

Got result of your own assessment? See what you should do at