Have you outgrown your investors? - Video
Here is a recap of the Paparelli Zoom Chat for Entrepreneurs #21
The theme was “Have you outgrown your investors?”
Special thanks to my guest Jason Moore, co-founder and CEO of Stratasan.
Quote of the call: “I talk a lot about lucky bounces.” Jason Moore.
Here are my key takeaways from this call:
You know you’ll be an entrepreneur sometime in middle school to early high school. I hear this in every entrepreneur’s story.
“If you are in Nashville, you will find yourself talking to healthcare executives.” Every city has its industry focus. Build a company in that city’s industry focus.
To find a tech co-founder, begin working where the tech folks are working.
If given the chance to pitch your company, say, “Yes.” It doesn’t matter if you are ready or not. Just say, “Yes,” and do it.
Angel investors look for sales, customer traction. This is the path from idea to company.
Small business operators understand how their business makes money. They have to be taught how to spend their cash in anticipation of revenue. This is the VC’s job.
Investors who have operating experience are of high value in scaling the business.
If you are not growing your company, you are on the way to death.
Looking for the next big round? Jason’s criteria: 1. New money must be operators 2. Entrepreneur finds the new investor, not a banker 3. New money must write a recap check 4. Buy some of the founders’ stock.
When speaking with investors: You don’t need all the answers. You do need enough of the answers. You must always be truthful and forthcoming.
If bad news pops in the midst of a negotiation, tell it to the buyer quickly.
Maintain relationships with all the people who got you to where you are today.
Watch the video to discover when your initial investors might not be right for you or the business going forward.
Every Paparelli Zoom Chat for Entrepreneurs will help you be a better entrepreneur. We are all about entrepreneurs helping other entrepreneurs.
I look forward to seeing you next Wednesday, September 23rd, at 9 am. (zoom.paparelli.com)
Come a little early and catch up with friends. I'll be on at 8:45. Stay past 9:45 am to talk to our special guest.
You can find resources suggested by your fellow entrepreneurs at https://www.paparelli.com/resources.