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For some aspiring to be tech entrepreneurs, I often suggest a two-step process, as I argued in this post that “ The First Startup Founder You Need to Invest in Is You.” He or she has worked at some very successful big technology or media companies and went to a great school. I saved my main point for last.
Truth be told, your only path to some serious funding is perseverance and diligence in getting meetings and being prepared. To help you crush your next investor meeting, we asked top VCs and tech leaders to share their best pitch advice. I would advise trying not to get into an argument with an investor. Know Your Stuff.
We moved into the legal process and final duediligence in January and February of 2000. If it’s a biz deal you might care about IP protection, revenue share, investment commitments to joint marketing – whatever. Push hard to set up the technicalreviews, the duediligence meetings, the reference calls – whatever.
In these kinds of businesses I’m on the record as advising “ Ring the Freakin Cash Register.” So money spent should add equity value or create IP that eventually will. You technically have more gas left but you never know if some unexpected circumstance causes you to run out of gas. Valuation.
Yet, despite his exceptional courtroom theatrics, you would be foolhardy to hire good old Johnnie to review your software cross-licensing agreement. Your lawyer is a trusted advisor, but in the end, you run your business, your lawyer does not. Bill Review – Believe it or not, lawyers and their staff are human (insert “gasp” here).
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