Startup Valuations

5th March, 2017 No Comments Fundraising , Startups , Startups , Venture Capital

Valuation – the monetary value of a company – is the source of much worry on the part of the typical entrepreneur.  But it need not be such a tremendous stressor.  Certainly, valuation matters, but, for early-stage startups, it is much less a reflection of intrinsic value or accomplishment and much more a product of […]

Making the Most of Startup Advisors

22nd May, 2016 No Comments Fundraising , Startups , Venture Capital

As an investor in startups, I get a lot of questions about advisors.  Should we bring on this advisor or that one?  How do we compensate advisors?  What should I expect an advisor to do?  I’ll try to answer these and other questions in this post; I’ll direct my comments to the leaders of startups […]

What Is Pre-Seed?

28th February, 2016 No Comments Startups , Venture Capital

I was talking with a group of accomplished technologists this week – academics, former entrepreneurs – discussing the fundraising strategy for a company that has raised some angel funding.  At one point, there was discussion of a “Series A” financing in the near-term future of the company.  The company was not ready for a Series […]

Principles of Good Projections

31st January, 2016 No Comments Startups , Venture Capital

This post was written for founders of relatively new businesses…   it started as an e-mail to one such founder about how to build an early financial model and, in particular, how to project revenue. I suggest you not try too hard (if at all) to make revenue projections until you start selling, or at […]