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Term-sheets and Valuations: Thinking about Negotiations - Startups.

Tim Keane

3]   However, if they are built bottom up, they demonstrate and make explicit a range of business model assumptions the entrepreneur is using to think about his business and its revenue model. Second a liquidation preference and a participation. This is why a bottom up approach is more credible.

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How I Pitched My Business and Raised $2.3 Million in VC Funding

Up and Running

At the same time, I was starting to realize that both the elegance of cloud-based software and the business models it enabled were what really got me excited. So I had a business plan, a product, and funds enough to buy some time to figure the rest out. Getting traction is key for early fundraising.