chance to turn them into a fan, no matter how grumpy they are It is not the bug that reflects you, its how you deal with it 140 characters in public is not the best forum for discussion Let people know about their pet features
chance to turn them into a fan, no matter how grumpy they are It is not the bug that reflects you, its how you deal with it 140 characters in public is not the best forum for discussion Let people know about their pet features
stream, even if it is just admin only Data is a symptom of design. Watch for duplicates and bad data: these bugs are important to fix quickly because they affect the quality of your data.
what you plan to make doesn't exist yet? What do you understand about your business that other companies in it just don't get? How will you make money?
$150,000 follow-on investment from Start Fund 'Office hours' meetings with YC partners for advice Weekly off-the-record dinner with invited speakers 'Demo Day' after 3 months
give $100,000 now as an advance on your future equity round When you raise the full round later, they get $100,000 worth of stock at whatever the valuation is They get perks for investing early (a cap and/or discount) http://martin.kleppmann.com/2010/05/05/valuation-caps-on-convertible-notes-explained- with-graphs.html
usually $5k-$50k Frequently exited founders themselves Not necessarily looking for a massive exit VCs invest other people's money Looking for the big 10x hits, to make up for losses You can raise money from both
or two meetings ... but it takes a LOT of meetings to fill up your round Meet with less exciting investors first, to practice At the end of the meeting, ask for the money!
"term sheet", outlining their proposed investment Show it to a lawyer! If you're lucky, you'll get more than one offer from different firms. Then you can negotiate. Even when you sign it, you'll still need to round up the other investors and negotiate on the full legal documents
aren't Your lawyers can translate the legalese, and tell you what terms are standard and what terms aren't To negotiate, you need reasons Investment is full of strange etiquette - good lawyers can guide you through that as well
it well Don't share your valuation Do say who your investors are, how much you raised and what you are going to spend the money on Give the exclusive to one publication, follow up with different angles to subsequent publications if you can
home and stop thinking about work You will have no idea what you are doing - but nobody else does either, ask a founder! You don't need to be born an entrepreneur ... but you do need to find a great co-founder
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