fundraising 101 for early stage entrepreneurs
TRANSCRIPT
![Page 2: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/2.jpg)
THANK YOU
Paul GrahamChris Dixon
Our Advisors & Investors
My fellow co-founders – Sourabh & Mayukh
![Page 3: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/3.jpg)
Be in fundraising mode or not.
![Page 4: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/4.jpg)
The best time to start fundraising was Yesterday.
![Page 5: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/5.jpg)
Get Things in Order. Founders’ equity and vesting to begin
with.
![Page 6: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/6.jpg)
CEO’s Job = Fundraising.When not Fundraising, he must be Hiring.
![Page 7: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/7.jpg)
Underestimate how much you need. 2X Need = Your want.
![Page 8: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/8.jpg)
Get introductions to investors, ideal investors.
![Page 9: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/9.jpg)
Don’t get Friend-zoned.Hear no or Hear yes.
![Page 10: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/10.jpg)
Interest ≠ Offer.Offer ≠ Closure.
![Page 11: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/11.jpg)
Yes in networking/email = Interest Signed Term Sheet = Offer.
Money in the Bank = Closure.
![Page 12: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/12.jpg)
Memorize your term sheet.Make Notes.
![Page 13: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/13.jpg)
No Question is Stupid. You’ll be surprised.
![Page 14: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/14.jpg)
99.137% of the world doesn’t understand convertible notes.
Join the Club.
![Page 15: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/15.jpg)
Get a successful 1st gen entrepreneur to help you in negotiation.
<you can’t afford a lawyer anyway>
![Page 16: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/16.jpg)
Prioritize non-negotiables. You can’t have it all.
![Page 17: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/17.jpg)
Get the first commitment.
![Page 18: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/18.jpg)
Close committed money.
![Page 19: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/19.jpg)
Accept offers greedily.
![Page 20: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/20.jpg)
Acceptable Offer – Take it. Incompatible Offers – Pick the Best‘Expecting A Better Offer’ – Wake Up!
No Offer – Get Back to Work
![Page 21: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/21.jpg)
Avoid adjectives – ‘Smart’ Money, ‘Impact’ Money.* Money = Money + Vision Fit
*exceptions apply.
![Page 22: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/22.jpg)
Avoid investors who don't "lead.”*
*exceptions apply.
![Page 23: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/23.jpg)
Don't be stuck at valuation.Don't be stuck at valuation.
![Page 24: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/24.jpg)
Keep Communicating with Investors post Term Sheet.EVERY DAYEVERY DAY
EVERY DAY
![Page 25: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/25.jpg)
Fundraising is a Milestone, not an Achievement.
![Page 26: Fundraising 101 for early stage entrepreneurs](https://reader035.vdocuments.us/reader035/viewer/2022070322/55921b181a28ab83048b4587/html5/thumbnails/26.jpg)
Achievement = Traction, Revenues.