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Royalty Treatment

Instead of selling ownership, sell a piece of the revenue stream.

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This story appears in the September 2001 issue of Entrepreneur. Subscribe »

In The Wizard of Oz, Dorothy carried with her the power to go home all along. The problem was she didn't know clicking her heels three times would do the trick.

Entrepreneurs seem to be suffering from similar oversight. A source of growth capital is often right under their noses but goes unnoticed. And as Dorothy travels across a mysterious land, entrepreneurs descend into a netherworld of venture capitalists, angel investors and investment bankers with sometimes terrifying results.

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