198. Master Three Pitches
To grow your skill in fundraising, master these three pitches: elevator pitch, the hero story, and your fit in greater market.
March 12, 2024
The VC Minute
Quick advice to help startup founders fundraise better.
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197. Fundraising Is A Core Skill
Liz believes that fundraising is not “on your to do list” but a core skill of a startup CEO, a deeply integrated part of your job.
March 11, 2024
196. Startup Maxims: Do Things That Don’t Scale
This is probably my favorite startup maxim of all. It ties in with the Lean Startup Methodology, and is core to figuring out what you should be building and for whom.
March 8, 2024
195. Not ABF. Instead, Always Be Cheerleading
The last episode of ABF. I promise. Maybe. But we’re definitely missing the founder’s perspective on this one, which is why I was glad to have Liz Giorgi’s input.
March 7, 2024
194. Startup Maxims: Invest in Lines, Not Dots? Investors Invest In Relationships.
What’s really at the core of the “lines, not dots” maxim? Relationships.
Mark Suster’s classic post: Invest in Lines, Not Dots.
March 6, 2024
193. Startup Maxims: Always Be Fundraising. Really?
ABF: Always Be Fundraising. Should you really always be fundraising? Here are some tips on how to evaluate if this is right for you.
March 5, 2024
192. Startup Maxims: Ask for Money, Get Advice
This week I’m covering startup maxims—tthose little phrases we all repeat to each other as common wisdom but may or may not be true, helpful, or relevant.
Today’s maxim: “Ask for money, get advice. Ask for advice, get money.”
March 4, 2024
191. The Purpose of the First Meeting
Just as the purpose of the deck is not to get a check, it’s to get the first meeting. The purpose of the first meeting is…
March 1, 2024
190. A VC’s Job Is Not To Write Checks
A VC’s job is to say “no.” Now knowing that, how do you adjust your approach?
February 29, 2024
189. Features: Don’t Sell Products
If you aren’t getting positive feedback from the market, don’t start adding things. Strip the product down to its core basic value prop.
February 28, 2024
188. #1 Killer of Startups
Founders are efficiency-seeking missiles, which is what compels them to start businesses, but it’s a double-edged sword.
February 27, 2024
187. CEO Has Three Responsibilities
The CEO is responsible for three things: communicate the vision, hire great people, and don’t run out of money. But it all boils down to just one thing.
February 26, 2024
Shutdown Week
It’s not a thing that VCs talk about, but it is something that we should cover. I tag-teamed with my friend, Eric Marcoullier on the topic of shutting down your startup.
February 24, 2024
February 23, 2024
185. Three Questions To Ask Before Shutting Down
My friend Eric is a very successful startup founder who has been a CEO coach for the last decade. When founders come to him to ask if they should shut down their startup, he runs this process with them.
February 22, 2024
184. Three Ways To Shut Down & The Terminal Plan
There are ways to shut down: The Ghost, The Bonfire, The Refund. But there’s also a great way to sell your startup. That advice is not mine to share, so go read this presentation by Geoff Lewis: The Terminal Plan
February 21, 2024
183. Shut Down Week and Write Offs
This week, we’re covering an important but difficult topic: shutting down your startup. If you’re asking yourself the question, you may already have the answer. And your investors may have already written your company down.
February 20, 2024
182. The Two Things I’m Looking For In A Deck
When a start-up comes into my inbox cold or through another investor, there are really only two things I’m trying to figure out: 1) Is this for me? 2) Is this interesting?
February 16, 2024
181. The Power of Specificity
Allyson joins us to share her insights on providing specificity to the problem being solved. A founder has to be able to convey the severity of the problem and the specific upside to solving it. Without both, investors know customers just won’t buy.
February 15, 2024
180. Follow Ons Part 3: The Follow-On Death Spiral
Wrapping this up, I’ve been watching the “Follow-On Death Spiral” for the last year. It’s not all bad news through.
February 14, 2024
179. Follow Ons Part 2: Everything Takes Longer
The time between startup fundraises has grown significantly. Additionally, the time between venture fund vintages has also grown, resulting in a slowdown of capital deployment. All while venture funds buoy the healthy companies in their portfolio with follow-on capital.
February 13, 2024
178. Follow Ons Part 1: Lengthening of Seed Phase
Over the next few days we’re going to dive into why follow-on investment is the most important thing for Seed startups. Today, a quick background on the lengthening of the Seed Phase and why Series A raised the bar.
February 12, 2024
177. Follow Up on DocSend Opens
Maybe a founder could explain to me why you would not follow up with investors that opened your deck on DocSend?
February 9, 2024
176. Simplicity is Genius
Clear communication is crucial for startup CEOs to sell their vision effectively to investors, customers, and employees. SpringTime partner, Allyson Plosko, shares why Simplicity is Genius.
February 8, 2024
175. Start With Your Elevator Pitch
We met six months ago for 30 minutes. It’s been 260,000 minutes since we last communicated. Remind me, what does your startup do?
February 7, 2024
174. The Power of Updates
Stay Top of Mind: Learn why regular updates are crucial for startup founders to maintain investor interest and support, especially during fundraising rounds.
February 6, 2024
173. Season 4 Kick Off
Welcome back to another season of VC Minute! We are pleased to introduce our sponsor, AVL Growth Partners. And I talk (briefly) about the #1 thing you should be asking Seed Phase investors right now.
February 5, 2024
172. Valuation Is Only One Part of the Term Sheet
Founders should look beyond dilution in term sheets, focusing on board configuration’s significance and understanding the option pool’s impact. AJ offers words of encouragement, emphasizing resilience and daily learning for success in the competitive market.
November 10, 2023
171. Key Terms for Founders Negotiating Term Sheets
AJ provides valuable insights on term sheet structures, evolving clauses, and understanding investor motivations. He offers practical advice on managing tight decision timelines and creating negotiation urgency.
November 9, 2023
170. Asking VC Questions Builds Relationships and Gets Clear Answers
Discover the key questions founders should ask during partner meetings and initial discussions in this insightful episode. AJ encourages founders to be inquisitive about how funds operate and make investment decisions.
November 8, 2023
169. Fundraising Process Starts With Storytelling, Network and Finding the Best Partner
AJ outlines his proven approach to fundraising. He stresses the significance of tapping into your network, constructing a narrative-driven pitch deck, and carefully selecting the right partner for your business.
November 7, 2023
168. AJ Raised 9 Rounds in 10 Years for 2 Companies, He’s Not Building the Plane While Flying It
AJ Bruno, QuotaPath’s CEO has raised $70 million for QuotaPath and had a successful sale of TrendKite for $225 million, after multiple rounds of funding. He’s also a father of three and a pilot who does not like the idea of building the plane while flying it.
November 6, 2023
167. Working Up From the Bottom, Get Investors By Building an Investable Business
How Glade Optics organically attracted seasoned operators as investors through a meticulously planned reputation-building strategy
November 3, 2023
166. Benefits of RBI vs. Fee-Based Lenders, Deal Terms and Aligning Founder+Investor Interests feat. Curt Nichols, Founder & CEO at Glade Optics
The hidden costs of fee-based lenders and why Glade Optics went with GCVF for better deal terms and invaluable business insights
November 2, 2023
165. Retaining Ownership: RBI vs. VC and Real World Implications of Bootstrapping feat. Curt Nichols, Founder & CEO at Glade Optics
Navigating the emotional rollercoaster of early struggles and the rewards of reaching a sustainable revenue level
November 1, 2023
164. Exits, Ownership, Alignment with Investors and Revenue-Based Finance, feat. Curt Nichols, Founder & CEO at Glade Optics
Why Glade Optics chose non-dilutive funding: the dual benefits of protecting equity and gaining mentors
October 31, 2023
163. Meet Curt, Bootstrapping on Credit Cards feat. Curt Nichols, Founder & CEO at Glade Optics
Curt Nichols of Glade Optics shares his journey from bootstrapping with credit cards to scaling a high-seven-figure business in ski gear.
October 30, 2023
162. Utilize Fractional Talent To Access Experienced Executives
Fractional talent is a great way to get experienced team members on a part-time basis to augment your full-time staff in a cost-efficient way.
September 29, 2023
161. Reach High to Build an Amazing Board of Independent Directors
Matt literally wrote the book on startup boards. Heed his advice and find the best possible board members, keeping a balance between independents and investors.
September 28, 2023
160. Prep to Hire and Fire During Your Fundraise
Start your hiring processes while you’re fundraising so you can hire as soon as you raise. Otherwise, you waste valuable months.
September 27, 2023
159. Post-Funding Mistakes: Over-Spending & Not Forecasting Cash
The next two post-funding mistakes are over-spending and not forecasting cash. Cash is king!
September 26, 2023
158. Post-Funding Mistakes: Under Reporting
There are three post-funding mistakes Matt regularly sees from founders. The first is under-reporting.
September 25, 2023
157. There’s Never Been A Better Time To Start A Company
While funding is down, it’s down less at Seed. Angel investing is down, but it’s likely leveled out and will hold steady. There is still a plethora of capital available, and there are incredible tools to start businesses using low/no-code. There’s never been a better time to start a company.
September 22, 2023
156. Take Care of Your Team with Option Pools and Increasing Exercise Windows
Please listen to Peter’s message about option exercise window. Personally, I agree with him that exercise windows should be longer for employees. The 90-day industry standard is just an arbitrary number.
September 21, 2023
155. Founders Beware of Deal Structure and Stacking SAFEs
As fundraising constricts, investor-friendly terms come out. Understand the effect these terms have on you and your company, as well as the effects of stacking SAFEs.
September 20, 2023
154. Valuations are Down; Down Rounds Are Up
As fundraising constricts, investor-friendly terms come out. Understand the effect these terms have on you and your company, as well as the effects of stacking SAFEs.
September 19, 2023
153. Time Between Fundraises is Growing
Founders, whatever you think it’s going to take you to raise this funding, it’s probably going to take longer. So, begin those conversations earlier than you think you need to.
September 18, 2023
152. Founders Add Value – Have Them On Your Cap Table
Founders are always going to add value, no matter how big or small the check size is.
September 15, 2023
151. Getting Sixty Angels to Invest
Rescripted has over 60 Angels on its cap table. How did they do it? Networking “like a crazy person.”
September 14, 2023
150. Don’t Take Venture Capital
One of the best pieces of advice Abby got: seriously evaluate if your business actually needs venture capital.
September 14, 2023
September 13, 2023
148. Questions to Ask VCs
Do you want industry expertise or operational experience from investors? Write out what you want before you start fundraising.
September 13, 2023
147. Warm Intros Only
Personalized, forwardable emails that your connections can send along will unlock doors to new investors.
September 12, 2023
146. Two More Investor Trick Questions
Where are you in the process? What’s your valuation expectation? Abby provides guidance on answering both of these trick questions.
September 12, 2023
145. Intro + Trick Question
Watch out for these VC “trick questions.” How you answer will impact how far you get in their process.
September 11, 2023
September 8, 2023
143. Staying Top Of Mind
Staying top-of-mind with investors bends recency bias in your favor. Here are four ideas.
September 8, 2023
142. Tuesday Expenses – Getting Unusual Data Requests from VCs
When a venture fund is asking for “Tuesday Expenses” it’s because someone in the firm has direct experience with that, whether good or bad.
September 7, 2023
141. Pattern Matching & Recency Bias
VC’s are pattern matching all the time and recency bias can really put its thumb on the scales when it comes to decision making. Do you best to understand the patterns, especially the recent ones.
September 6, 2023
140. Pre-Seed or Seed? Which Are You?
When founders ask me whether they should be targeting pre-seed or seed, I have three clarifying questions.
September 5, 2023
August 11, 2023
138. Build Your Network Before Fundraising
If you don’t have a network of investors, start building that network now, before you need to fundraise.
August 11, 2023
137. Prepare Follow Up Materials In Advance
So much of fundraising can be made easier by some advance work. One of the critical pieces are the follow up materials.
August 10, 2023
136. You Have to Believe the Story You’re Selling
Your fundraising story will evolve as you continue to pitch. Keep checking in to ensure your story is still aligned with your mission and values.
August 10, 2023
135. Fundraising Friends
“Fundraising Friends” is a great way to get unfiltered advice throughout your fundraise process. Hear how Neha did it.
August 9, 2023
134. The Mental Game of Fundraising While Running the Business
Use Time Blocking to create space between pitching investors and working with your team or customers.
August 8, 2023
133. Pre-Seed Pitch is the Most Fun – Live in the Vision
Pre-Seed fundraising allows a founder to live inside the vision of their business.
August 7, 2023
131. Angel Investors Are Everywhere and Nowhere
People often think of angel investors as only friends and family. But they could also be anyone you’ve had a business relationship with in the past.
August 3, 2023
130. Setting Investors Up for Success
After you pitch an investor, they have to go back and pitch their team.
August 3, 2023
129. Season 3 Kickoff
Season 3 Guests. And do you use your own email when emailing investors?
August 1, 2023
127. Not “Female Founder,” Just “Founder”
It’s important to build a diverse team because diverse teams outperform non-diverse teams. It’s important to invest in great founders. And women happen to make great founders.
June 23, 2023
126. Focus. Distraction Is Kryptonite for Founders
Distraction is like kryptonite to founders. Yet fundraising is one giant distraction.
June 22, 2023