According to Scott Weiss from Allegis Capital.
- I hear and I forget, I see and I remember, I do and I understand.
- Get multiple term-sheets (offers).
- Leave a positive impression on everyone you meet.
- Valuation by perfection, be pedantic on every investor touchpoint.
- Team
- CEO
- Authenticity - don't be phony, sweat, show your weakness, be yourself, know what you don't know, don't be defensive.
- Coachability - solicit feedback, surround yourself with mentors, you are a share holder before ceo.
- Chemistry, don't interrupt each other, everyone talks about what they know best.
- Match up your team to the investor team: Tech specialist -> geek, Numbers guy -> marketing, 2 to 1, 3 to 2.
- Market opportunity
- Tell a story in your slides, keep it short,
- You know all the questions, 20-30, prepare for each one of them. Know which team member is going to answer them. The ceo is like a point guard, dish out to the member who knows the answer.
- Competitive advantage
- Traction
- Practice, practice, practice, start with tier 3 investors and move up.
- Cast a wide net, meet many VC's and angels in a short time. Makes the deal hot.
- Talk with other CEO's before choosing a term sheet.
- Have a user advisory board, if an investor ever needs to call a user. give them stock. get their cellphone.
- Know the time to close, due-diligence period.
- Small odd-number board, majority of founders and independents (non-vc's), could be experts.
The Art and Science of Fundraising from Allegis Capital on Vimeo.
