The New York Times Small Business section is usually a worthwhile read.

Today's piece by Jay Goltz,entrepreneur and small business columnist, on what he views to be the Top 10 Reasons for Entrepreneurial Success is especially good and, I thought, worth sharing.

With the apparent resurgence in the IPO market, it seemed timely to revisit my last blog What to know before you IPO and ask, "what's changed?"

After doing a little digging, it seemed to me there are several points worth making, which haven't really been front and centre in the popular press. Namely:

1. Yes, the IPO market has recovered from the depressed levels of past years, but it's still at low levels;
2. The markets appear to be primarily focused on revenues and less so on earnings;
3. High valuation levels being accorded IPOs is at least one of the driving factors of this resurgence and there is a growing gap between valuation of revenues and profits that should provide a cautionary note for investors.