Both Sides of the Table

AUGUST 8, 2009

It’s marketing 101 for tech companies in terms of how you market to customers. Sales owns the former, the latter get marketing emails so you’ll be top of your prospects’ minds. And I know many stories of Benchmark or similar investors writing term sheets after the first meeting. Neither is the norm.

Technical Review 309

Technical Review Term Sheet Venture Capital Revenue 309

This is going to be BIG.

SEPTEMBER 30, 2012

This is a company that, according to the article, got term sheets from half of the VCs that expressed interest in the company. While job recovery is slow, it seems that we've probably ducked that bullet and there won't be a major shift in people's interest in funding the venture capital asset class.

Venture Capital 114

Venture Capital Marketing Term Sheet Software Review 114

Both Sides of the Table

MAY 13, 2018

The most important advice I could give you before you set out in fund raising mode is to understand that fund-raising a sales & marketing process and needs to be managed. Somehow many first-time founders equate “sales” with something that is beneath them. In sales there are also three rules: Qualify, qualify, qualify.

Term Sheet 332

Term Sheet Due Diligence Campaign Sales 332

ReadWriteStart

JUNE 1, 2020

Instead of funding, you pay the investors a structured royalty, which is a portion of the sales. It is essential to understand the funding structure stated in your term sheet and the advantages and disadvantages it may have for your business. Royalty based investment. A royalty based investment is an exciting mode of funding.

Startup 150

Startup Entrepreneur Elevator Pitch Seed Stage 150

Both Sides of the Table

APRIL 19, 2011

He met with 8 companies and got 6 term sheets, decided to take General Atlantic deal and that’s when Experian came back to buy the whole thing. o On 1/11/05 his daughter was born at 8AM, at 6 PM email showing first million dollar rev day for the company and 8 PM term sheet from Experian to buy the company – all on the same day!

Acquisition 304

Acquisition Warrant Customer Term Sheet 304

Up and Running

MAY 18, 2016

Why David Rose recommends it: “A great book to help you rapidly get sales and traction during your Lean Development process.”. Why David Rose recommends it: “As with ‘Lean Customer Development,’ this is a great book to help you rapidly get sales and traction during your Lean Development process.”. B y John Mullins.

Startup 80

Startup Venture Capital Angel Investor Lean 80

David Teten

AUGUST 19, 2019

I’ve been a traditional equity VC for 8 years, and I’m now researching new business models in venture capital. RBI normally requires founders to pay back their investors with a fixed percentage of revenue until they have finished providing the investor with a fixed return on capital, which they agree upon in advance.

Revenue 60

Revenue Technical Review Software Review Equity 60

www.bothsidesofthetable.com

MAY 13, 2012

Raising Venture Capital. Sales & Marketing. I recently did a post for startups on understanding sales people. new features need to go into the sale people’s slides so that they know the latest and greatest about how to differentiate from the competition. Raising Venture Capital (12).

Fractional VPE 89

Fractional VPE Part-Time VPE Fractional CTO CTO Hire 89

Startup Company Lawyer

MARCH 14, 2010

Founders Institute Plain Preferred Term Sheet (by WSGR – disclaimer, I represent the Founders Institute and was involved in drafting this document). If you don’t, please educate yourself on this site, Venture Hacks and the term sheet series by Brad Feld/Jason Mendelson, among other places.

Finance 70

Finance Software Review Term Sheet Liquidation Preference 70

Altgate

OCTOBER 8, 2009

The two most popular posts remain this one on term sheet negotiation and this one on venture debt , although this one on convertible debt is giving them a run for their money. Tips: $75 HOT All-Hands Team Meeting Board Management Tips For Startup CEOs Customer Support 2.0 Bookmark the permalink.

Term Sheet 39

Term Sheet Technical Review Michigan Liquidation Preference 39

Altgate

AUGUST 20, 2010

@altgate Startups, Venture Capital & Everything In Between Skip to content Home Furqan Nazeeri (fn@altgate.com) ← Why Don’t Universities Teach Sales? A couple of years ago I wrote this post on the science and art of negotiating a term sheet , which turned out to be a fairly popular post.

Term Sheet 39

Term Sheet Venture Capital Angel Financing Framework 39

Startup Company Lawyer

APRIL 22, 2009

Always looking for ways to better serve the entrepreneurial community, Wilson Sonsini Goodrich & Rosati is pleased to announce the release of the WSGR Term Sheet Generator , a publicly available online tool that allows entrepreneurs and investors to generate an initial draft of a term sheet for a preferred stock financing.

Term Sheet 39

Term Sheet Finance Preferred Stock Kentucky 39

Steve Blank

NOVEMBER 12, 2009

But Cafepress’s most memorable moment was when the founders used a “Lessons Learned” VC pitch to raise their second round of funding and got an 8-digit term sheet that same afternoon. The VC firm delivered a term sheet for an 8-digit second round that afternoon. Here’s how they did it. And learn from it.”

Venture Capital 209

Venture Capital Silicon Valley RSS Hockey Stick 209

Feld Thoughts

JULY 27, 2011

When Jason and I set out to write Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist , we both agreed that we wanted to try to create as useful and durable a reference guide for entrepreneurs interested in raising a round of venture capital as we could. Co-Sale Agreement. Investor Rights Agreement.

Term Sheet 136

Term Sheet Preferred Stock Merger Venture Capital 136

Scott Edward Walker

JUNE 9, 2019

Over the past few weeks, two of my clients have received financing term sheets in which the investors requested super pro rata rights. Introduction. Accordingly, I thought it would be helpful for founders to discuss these rights and to point out the problems they create for startups. Pro Rata Rights.

Preferred Stock 56

Preferred Stock Term Sheet Dilution Stock 56

Steve Blank

APRIL 9, 2009

Five Easy Pieces – The Marketing Mission After a few months of talking to customers , talking to our channel and working with sales we defined the marketing Mission (our job) was to: Help Sales deliver $25 million in sales with a 45% gross margin. Two paragraphs, Five bullets. It didn’t take more.

Silicon Valley 259

Silicon Valley Technical Review RSS PR 259

Steve Blank

JANUARY 4, 2010

Now with customers and early revenue, it was out raising its first round of venture money. Not only did their sales curve look like a textbook case of a VC-friendly hockey stick, but their Lessons Learned funding presentation was an eye-opener.). Lets take venture capital and grow this thing into a real business.”.

Hockey Stick 276

Hockey Stick Venture Capital Startup Cofounder 276

Genuine VC

JANUARY 15, 2015

In other words, as much as feasible, to gate all of the VC discussions so that they’re progressing along essentially the same pace – with the goal to receive multiple terms sheets near simultaneously in order to best select the best offer and best partner, with full information. But reality doesn’t always play out as neatly.

Lead Investor 100

Lead Investor Term Sheet Venture Capital Portfolio 100

Both Sides of the Table

FEBRUARY 27, 2012

The process for raising money from a VC is a sales process and as such much of what is taught in enterprise sales can be applied. While this post is written about raising venture capital (which I always remind entrepreneurs IS a sales process) the lessons can be applied to any sale or biz dev deal.

Partner 308

Partner Term Sheet Sales Portfolio 308

Both Sides of the Table

APRIL 14, 2012

You’ve found yourself in a super hot category and – let’s face it – it’s still a very frothy venture capital funding market so you may have loads of VCs chasing you. ” Getting a term sheet on the table is the second most sure way to get a potential acquirer to move faster.

Valuation 316

Valuation Balance Sheet Dilution Term Sheet 316

Startup Company Lawyer

AUGUST 31, 2012

” The theory is that the number of seed stage Series A deals led by venture capital firms is decreasing, meaning that it will be difficult for startups to raise a new round of financing. Form of Convertible Security Term Sheet. These documents are available at the links below. Form of Convertible Security.

Convertible Security 73

Convertible Security Equity Security Preferred Stock 73

This is going to be BIG.

NOVEMBER 11, 2013

The venture capital game has become about branding yourself so you can get into a handful of hot deals." -- @Naval on stage with @Jason. Dennis and Naveen had pitched just about every investor you could think of and came up with a whopping zero term sheets. Venture Capital & Technology' Not hot at all.

Columbus 112

Columbus Venture Capital Viral Term Sheet 112

The Next Web

FEBRUARY 27, 2014

Juniors have achieved a full proof of concept around their business, with rapid user or revenue growth, approaching up to $1MM in revenues (Series A venture capital—raise $1MM to $5MM). Which each stage of your growth, your valuation is moving up along the way. This could mean driving EBITDA up to $5 to $10MM within that period.

Valuation 167

Valuation Forecast Seed Stage .Net 167

The Startup Lawyer

JUNE 9, 2010

The term sheet was pretty much a done deal, when the startup’s CEO demanded a salary of $25,000. In addition, here’s an example of how a startup CEO’s huge salary didn’t help his startup: CEO’s $500,000 Salary Burns Startup Into Fire Sale. Not all startup founders understand this tenet. Case Study.

Salary 99

Salary Term Sheet Liquidation Preference Liquidity Event 99

Both Sides of the Table

APRIL 23, 2017

Raising money is a sale and selling requires persistence and follow up. The best sales people never give up and they are politely persistent in finding new ways to get in front of target buyers. It’s the exact same phenomenon in sales when you’re in a competitive RFP and 5 firms are pitching. Be in Person. Get Back in Person.

Burn Rate 238

Burn Rate Term Sheet CTO Hire Fractional CTO 238

Altgate

AUGUST 16, 2010

@altgate Startups, Venture Capital & Everything In Between Skip to content Home Furqan Nazeeri (fn@altgate.com) ← Who is this Julian Assange guy anyway? King&# Approach to Term Sheet Negotiations → Why Don’t Universities Teach Sales? A “Rich-vs.-King&#

Sales 49

Sales Term Sheet Michigan Sales Cycle 49

Both Sides of the Table

FEBRUARY 25, 2010

We had many term sheets (it was 1999 and we had a pulse) and we were deciding which one to take. We were trying to optimize around a few criteria: price, size of round, number of syndicate partners and, of course, terms. We ended up agreeing a term sheet for $16.5 VC, sales, biz dev, M&A or otherwise.

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301

The Startup Lawyer

MARCH 1, 2010

The drafters also anticipate a management rights letter will be included in order to ensure “Venture Capital Operating Company&# compliance for the VC investor(s). (3) It also scales back the right of first refusal and jettisons the co-sale right. 4) Term Sheet. 4) Term Sheet.

Preferred Stock 79

Preferred Stock Term Sheet Redemption Registration Rights 79

This is going to be BIG.

SEPTEMBER 1, 2010

Sure, there will always be another investor who hears that you’ve got a term sheet that is willing to one-up it on price, but it’s really hard to get that first one in the pool. Tags: Venture Capital & Technology. We negotiated fair deals—all equity—in a timely manner. Was that entrepreneur unfriendly? Not at all.

Equity 104

Equity Term Sheet Seed Stage Angel Investor 104

Scott Edward Walker

FEBRUARY 9, 2020

venture capital), they buy and sell companies and seek a return that way. But, ideally, you want to create a competitive environment where you’re playing different prospective buyers off of each other in order to negotiate the best possible deal terms. Instead of investing in the stock market or in startups (e.g.,

Private Equity 59

Private Equity New York City Equity Deal Structure 59

David Teten

JULY 20, 2011

Boillot , Susan Klein , and Ed Reitler of Reitler Kailas & Rosenblatt did a great job representing me in finalizing the terms of my joining ff Venture Capital. I recently worked on the sale of a company by an entrepreneur. His company meant a great deal to him and I was sensitive to that.

Intellectual Property 128

Intellectual Property Entrepreneur Term Sheet Venture Capital 128

Both Sides of the Table

SEPTEMBER 20, 2009

This is not unlike a major biz dev deal you’re trying to sign or a big sales campaign into the VP of a major company. I like to tell entrepreneurs to treat it like a sales campaign. EXACTLY like a sales campaign. It is much easier to follow up by calling the junior staff (again, just as you would in a sales campaign).

Campaign 277

Campaign Email Venture Capital Term Sheet 277

finance.fortune.cnn.com

AUGUST 21, 2012

Term Sheet. Term Sheet The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley. FORTUNE -- Its no secret that venture capitalists were hit hard by last decades dotcom bust, considering that median returns for 1998-2001 vintage funds are all underwater. Term Sheet.

Naming 49

Naming Term Sheet Private Equity Equity 49

Gust

OCTOBER 21, 2011

For convertible notes, the only liquidity event we need be concerned with is an acquisition of the startup in the near future, before the maturity date; otherwise, the notes will convert to equity of one kind or another, and the eventual sale of that equity (in a public offering, acquisition, or private sale) is a different subject for another day.

Finance 79

Finance Pre-Money Valuation Term Sheet Liquidity Event 79

David Teten

DECEMBER 3, 2019

Private equity and venture capital investors are copying our sisters in the hedge fund world: we’re trying to automate more of our job. . I previously posted a detailed presentation with sales technology tools useful for B2B sales. ff Venture Capital hired two full-time engineers to build out Totem.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Professor VC

JANUARY 20, 2009

The Most Important Venture Capital Statistic. The funding search began the day after Labor Day and continued throughout the fall as the environment continued to worsen, and resulted in a term sheet the day before Thanksgiving. At Fliqz, we met or exceeded the sales plan every month during the due diligence process.

Venture Capital 28

Venture Capital Silicon Valley San Jose Bootstrapping 28

Startup Lessons Learned

MAY 31, 2019

He’ll be speaking at this year’s Lean Startup Conference , and also has a new book (for which I very happily wrote a short foreword) coming out next month: Secrets of Sand Hill Road: Venture Capital and How to Get It. What is venture capital, really? And what does a venture capital firm do?

Lean 108

Lean Venture Capital Conversion IPO 108