A version of this article previously appeared in Forbes.
One the most frequent questions asked of me by entrepreneurs is, "How can I become a Venture Capitalist?" The inquiry is common because being a VC is (to an entrepreneur, at least) a sexy job. You control substantial amounts of capital, have tremendous autonomy, a flexible work schedule and you get to play Santa by bestowing financial gifts upon worthy entrepreneurs.
You also can vicariously share in the success of those around you and, if you are so inclined, you can give yourself more credit than you deserve for other people's success.
There are many paths into the VC world, but they can generally be lumped into two categories: (i) serial entrepreneurship, and (ii) tech-oriented investment banking. I define a "VC" as, "a professional investor who deploys third-party funds into relatively early-stage companies." In contrast, an Angel Investor is someone who invests their own capital. All you need do to become an Angel is identify a promising venture and write a check.