For next week, determine the valuation of the company.
Meet the VC, ask for money how much is needed for the next milestone and how much is the share you’re willing to give.
Some covenants by VCs:
Right of first refusal – you can’t sell your equity to others before us
VC will hire the CFO
Prepare a story about the business in the future.
May be a news headline or an interview.
Pitching to VCs
By David Rose, TED Prezo
They will invest in YOU. You have to convey these characteristics:
- experience – VCs love serial entreps because they learn
- coachable – ability to listen
Think of your pitch as a timeline.
10 seconds to get their attention
Then it should go up from there until the end of prezo.
Validation – somebody else validated it
Don’t be inconsistent
Don’t have typo, missing slides
Images are better than bullet points and headlines
Never look at the screen when presenting
Why you are the best person for this company?
Is it worth doing?
It can be done.
Goals – The Focus that Drives Negotiation Strategy
- determining goals is the first step in the negotiation process; understand the other party’s goals
- knowing the goal, we’ll know the negotiating strategy
- can we both achieve our goals?
- goals can be concrete and specific
- unilateral – one that is actively made by one party only
The Dual Concerns Model
How important is the goal to me?
How important is the relationship with the other party to me