The National Venture Capital Association just released their results for second quarter 2009 fundraising. This figure represents the amount of money raised by venture capital firms to invest in portfolio companies. To no one's surprise, the number of firms raising money (just 25) and the amount of money raised ($1.7billion) represent significant declines. Not since 2003 were numbers this low. It is not easy to attract investors to high risk investments even if the return could be great.

I suspect there will continue to be pressure on management teams to grow their firms with old fashioned bootstrapping. Firms that implement marketing and lead-generation programs that allow them to accomplish that task will have a real competitive advantage. Clients continue to spend on services that are essential to their success. If you can find that pain and offer a proven, cost-effective solution, you may be in a position to achieve sustainable growth in this or any other economy