How much cash should you raise?(Mergers, IPOs, and Venture Finance)

* Don't leave yourself stranded: Jordan Levy, co-founder of what is now SoftBank Services Group, is convinced that most entrepreneurs chronically underestimate their working capital needs. "In 17 years in the computer business, I have almost never seen a company fail because they had too much money. 90% of companies that haven't succeeded have done so because they were foolish, greedy, or just not aggressive enough to raise the proper amount of money when they could. My rule of thumb is, figure out what you need, double it, and don't be afraid of dilution."

Jordan Levy, SoftBank Services Group, Box 1722, Williamsville, N.Y. 14221; 716/871-6444. E-mail: jordalev@sbservices.com.

* Don't raise too much: Intuit senior vice president John Monson disagrees: "Many small businesses have a tendency to take too much investment money too soon," he warns. "The result is pressure to deliver growth before they're ready. They change focus from creating great customer value and building a durable organization to meeting arbitrary business plan goals."

John Monson, senior vice president, Intuit, Box 7850, Mountain View, Calif. 94039-7850; 415/944-2761. E-mail: john_monson@intuit.com.

Kim Nash, senior editor, Computerworld, 1419 W. Warner Ave., Chicago, Ill. 60613; 773/871-3035. E-mail: knash@cw. com.