Startup Professionals Musings

APRIL 18, 2021

If your startup is great enough to get a term sheet from angel investors or a venture capitalist, the next step for the investor is to complete the dreaded due diligence process. Some startups do nothing to prepare for the due diligence process, assuming the people and business plan documents will speak for themselves.

Technical Review 380

Technical Review Due Diligence Term Sheet Angel Investor 380

Startup Professionals Musings

DECEMBER 28, 2010

If your startup is great enough to get a term sheet from angel investors or a venture capitalist, the next step for the investor is to complete the dreaded due diligence process. Some startups do nothing to prepare for the due diligence process, assuming the people and business plan documents will speak for themselves.

Technical Review 229

Technical Review Due Diligence Term Sheet Angel Investor 229

Startup Professionals Musings

MARCH 10, 2021

Failure to prepare for due diligence. Any serious investor will perform a thorough review of your business and personal background before signing the check. Not doing due diligence on the funding source. You need to complete due diligence on your prospective funders as they complete due diligence on you.

Software Review 307

Software Review Due Diligence Elevator Pitch Early Stage 307

Startup Professionals Musings

NOVEMBER 7, 2014

As a startup mentor and investor, I am approached regularly by aspiring entrepreneurs who assert that business plans are a waste of time. They cite sources like the BusinessWeek story, “ Real Entrepreneurs Don’t Write Business Plans ” and this Forbes article. You need funding, and plan to get it from friends and family.

Business Plan 274

Business Plan Technical Review Angel Investor Due Diligence 274

Startup Professionals Musings

JUNE 14, 2013

On a regular basis, I am approached by entrepreneurs who assert that business plans are a waste of time. They cite sources like a recent BusinessWeek story, “ Real Entrepreneurs Don’t Write Business Plans ” and this NY Times article. With bootstrapping, no business plan is expected by anyone.

Business Plan 250

Business Plan Technical Review Entrepreneur Angel Investor 250

Growthink Blog

DECEMBER 27, 2017

You need a good idea – and an excellent business plan. Business planning and raising venture capital go hand-in-hand. A business plan is required for attracting venture capital. But how exactly will your business plan persuade investors to sign a check? Be prepared for due diligence.

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Venture Capital Business Plan Technical Review Private Placement 129

Startup Professionals Musings

DECEMBER 22, 2017

In my activities as an angel investor, and my work with new ventures seeking investment, I find the “due diligence” stage to be fraught with the most risk. My best advice is to put some structure and discipline into your due diligence preparation, including the following steps: Schedule a team meeting to bring everyone up to date.

Due Diligence 148

Due Diligence Bankruptcy Angel Investor Stock 148

The Startup Magazine

FEBRUARY 19, 2019

Startups with a solid business plan and great pitch deck have a far greater chance of gaining investment. In this essay by one of Mercia’s Fund Principals, Ian Wilson, Ian talks about the sorts of things he and the team are looking for when plans come to them for review. Writing a plan does not need to be a daunting task.

Business Plan 93

Business Plan Technical Review Initial Public Offering Due Diligence 93

Up and Running

JULY 6, 2016

Often, a business plan introduces a new technology that requires some explaining. On one hand, as a reader of business plans for investors, I see way too many business plans that ask a reader to wade neck-deep through technology to get to the business. It’s a business plan, not a term paper or thesis.

Technical Review 72

Technical Review Software Review Business Plan Development Team Review 72

The Startup Magazine

MARCH 14, 2022

It is here that the groundwork is laid and the business model developed. A business plan is drawn up to attract investors and partners. The legalities of starting the business are addressed to create a structure for attracting funding. At this stage, the idea is pitched mainly to family and friends. 3) Company formation.

Technical Review 151

Technical Review Due Diligence India Startup 151

Startup Professionals Musings

MARCH 12, 2022

In this context, it’s always important to do your own due diligence on every potential investor, and not wait for them to come to you. Before you get in that position, I recommend you integrate into your pitch and business plan as many of the items outlined here as you can before investors have already opted out.

Valuation 368

Valuation Technical Review Due Diligence Angel Investor 368

The Startup Magazine

MARCH 30, 2022

A good business plan and positive projections should provide confidence. A well constructed business plan , which not only shows ambition, but demonstrates that the founders have an understanding of the market pressures they have to overcome and the kinds of customers they are hoping to win, is a must.

Technical Review 142

Technical Review Due Diligence Angel Investor Startup 142

The Startup Magazine

AUGUST 11, 2023

Pre-Seed New businesses, often known as startups, have just entered the very first stage of the investment process. During the pre-seed fundraising stage, investors need a viable business plan to base their investments on. Individuals engage in direct investment when they find and finance investment opportunities themselves.

Seed Stage 132

Seed Stage Technical Review Early Stage Due Diligence 132

Startup Professionals Musings

JULY 1, 2020

Just don’t take the “shortcut” of not doing your due diligence on aspiring team members, strategic partners, investors, or vendors. The key here is to plan ahead, nurture a relationship with your favorite venture capitalists, and leverage the growth and assets you already have with other lending and funding organizations.

Due Diligence 306

Due Diligence Entrepreneur Startup Acquisition 306

TechEmpower

AUGUST 21, 2023

Changes to the tech team: You need to make changes to your tech team to meet your business goals. Due diligence prep: You’re coming up on a funding round or looking at a potential exit. Our goal is to build a decent understanding of your business, your product, and your technology. But what does the right team look like?

Technical Review 260

Technical Review Development Team Review Software Review Architecture 260

Startup Professionals Musings

NOVEMBER 17, 2013

Failure to prepare for due diligence. Any serious investor will perform a thorough review of your business and personal background before signing the check. Not doing due diligence on the funding source. You need to complete due diligence on your prospective funders as they complete due diligence on you.

Software Review 265

Software Review Due Diligence Elevator Pitch Startup 265

Both Sides of the Table

MAY 24, 2018

Usually after a Monday partner meeting you get a pretty strong: Yes, term sheet coming No, sorry we’re passing Maybe, we need to do more due diligence / analysis / work I always counsel founders that “good news comes early” so if you haven’t heard by Tuesday at noon chances are it wasn’t likely a clean “yes.”

Technical Review 314

Technical Review Due Diligence Partner Term Sheet 314

Up and Running

MAY 9, 2018

That’s the moment when many entrepreneurs realize that getting the help of a professional business plan writer can take their business concept from daydream to day job. Another vital question to consider at this stage is, what makes your business idea or model unique ? Who are you? Competition. Leadership.

Business Plan 71

Business Plan SBA Software Review Small Business Administration 71

Up and Running

APRIL 11, 2012

Bill Payne had a nice post on gust.com late last month titled Using your business plan , in which he lists the different forms or outputs people confuse with a business plan and sets each one into the proper use context. Do not hand investors your business plan when you first meet them.

Business Plan 85

Business Plan Elevator Pitch Technical Review Due Diligence 85

Both Sides of the Table

OCTOBER 30, 2014

I seldom hire patent attorneys during due diligence but this was too important. Meredith Perry came up with the idea for uBeam while still in college at University of Pennsylvania and like many great inventors won her school’s business plan competition. We hired OSHA regulatory lawyers. It was impressive.

Technical Review 418

Technical Review Software Review Due Diligence CTO Hire 418

Startup Professionals Musings

OCTOBER 10, 2012

Failure to prepare for due diligence. Any serious investor will perform a thorough review of your business and personal background before signing the check. Not doing due diligence on the funding source. You need to complete due diligence on your prospective funders as they complete due diligence on you.

Software Review 250

Software Review Due Diligence Elevator Pitch Entrepreneur 250

The Startup Magazine

APRIL 17, 2024

It’s all a matter of due diligence. Create a Business Plan It seems like creating a business plan would be a simple thing. Then you can move ahead with the next part. You’re going to be a construction company, so you just build things, right? It’s not that easy.

Due Diligence 109

Due Diligence Finder .Net Texas 109

Startup Professionals Musings

AUGUST 9, 2011

Failure to prepare for due diligence. Any serious investor will perform a thorough review of your business and personal background before signing the check. Not doing due diligence on the funding source. You need to complete due diligence on your prospective funders as they complete due diligence on you.

Software Review 246

Software Review Due Diligence Elevator Pitch Early Stage 246

Up and Running

MAY 28, 2015

We recently had Tim Berry, Palo Alto Software founder and business planning expert, present our Bplans audience with his latest advice on lean business planning. It’s all about making your business life easier, doing what works best, getting the best results by tracking what works and always improving.

Lean 60

Lean Business Plan Video Software Review 60

Startup Professionals Musings

OCTOBER 30, 2017

Generally, as a new business advisor, I recommend advance preparation of an executive summary, a pitch deck, short business plan, and lots of practice and passion. Obstacles are abundant, including the scarcity of warm introductions, enough traction to satisfy investors, and unending due diligence requirements.

Technical Review 220

Technical Review Accredited Investor Due Diligence Equity 220

YoungUpstarts

MARCH 22, 2019

So you have a great business idea, you’ve done your research and due diligence, you know your market and you are good at what you do. Many small business owners and entrepreneurs begin their first foray into self employment neglecting some of the most crucial aspects of running a business. What could go wrong?

Software Review 165

Software Review Due Diligence Startup Stock 165

Up and Running

JULY 29, 2019

Finish your business plan. If you haven’t already written a business plan , start now. We recommend using a Lean Planning approach. You need a business plan for a few reasons: To help you estimate how much money you need. Here are the basics of landing funding from angel investors: 1.

Angel Investor 119

Angel Investor Venture Capital Technical Review Software Review 119

YoungUpstarts

MAY 23, 2018

However, running a successful company involves a lot of due diligence, some core leadership, management and even accounting knowledge, and the ability to delegate, entrust others with your weaknesses, and empower them to help you with critical elements such as tying decision-making to profitability, and not just gut reactions.

Due Diligence 114

Due Diligence Startup Finance Leadership 114

Startup Professionals Musings

JULY 3, 2010

Failure to prepare for due diligence. Any serious investor will perform a thorough review of your business and personal background before signing the check. Not doing due diligence on the funding source. You need to complete due diligence on your prospective funders as they complete due diligence on you.

Software Review 239

Software Review Due Diligence Elevator Pitch Startup 239

Startup Professionals Musings

JULY 9, 2021

As a mentor to startups and new entrepreneurs, I continue to hear the refrain that business plans are no longer required for a new startup, since investors never read them anyway. Written business plan. Disciplining yourself to write down the plan is actually the best way to make sure you actually understand it yourself.

Elevator Pitch 390

Elevator Pitch Entrepreneur Due Diligence Angel Investor 390

YoungUpstarts

JUNE 6, 2019

That beautifully written, meticulously mapped-out business plan might be the problem. Ask any MBA instructor what you need to get an idea off the ground, and you’ll probably be told to create a business plan. Setting out without any kind of game plan can lead to chaos. No company’s growth follows a business plan.

Business Plan 104

Business Plan Due Diligence Finance Sales 104

YoungUpstarts

SEPTEMBER 6, 2018

With a bit of due diligence, how to develop a successful marketing plan for a startup and rules to ensure your endeavor grows and becomes successful. Here are the top nine startup tips to adhere to in order to keep your startup or small business from becoming a failure statistic. You still need a plan though.

Technical Review 166

Technical Review Due Diligence Startup Demand 166

Startup Professionals Musings

APRIL 22, 2013

I’ve noticed that some entrepreneurs seem to have no trouble attracting investors, while others with a great business plan struggle with it. Can show milestones achieved, as well as planned, which indicate rational expectations. Allows sufficient time to find capital, including due diligence time for investors.

Technical Review 273

Technical Review Intellectual Property Angel Investor Elevator Pitch 273

Up and Running

SEPTEMBER 15, 2014

Don’t think for a minute that any serious investor would ever read a summary memo, or watch a pitch, much less read a business plan, when it looks like it’s being sent in bulk to multiple investors. That idea dates back to the 1980s when people imagined that VCs were looking at business plans coming in unsolicited.

Software Review 124

Software Review Due Diligence Venture Capital Elevator Pitch 124

Startup Professionals Musings

MARCH 14, 2020

Founder insistence on non-dilute clauses, arms-length relationships, and quick closure without due diligence will short-circuit active interest. Surprises during due diligence. Smart entrepreneurs pre-disclose any possible due diligence issues, with full and open explanations and no excuses.

Due Diligence 308

Due Diligence Intellectual Property Preferred Stock Seed Stage 308

Berkonomics

JANUARY 14, 2021

In others, if you cannot find such a champion after initial presentations to a subset of the entire group, you will not be permitted to move from initial application to the next stages of due diligence and final funding. How to waste your fundraising effort.

Technical Review 62

Technical Review Due Diligence Venture Capital Differentiation 62

YoungUpstarts

AUGUST 30, 2016

It seemed as though venture capitalists were throwing money at any Internet idea they could find – no business plan required. Our little business grew from four employees to over 30. After months of due diligence and reviewing hundreds of pages of contracts, McAfee acquired InternetSafety. We wanted in.

Software Review 188

Software Review Technical Review Due Diligence Startup 188