As a founder, you should ask yourself, “What is the final, desired outcome of my company?”
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“Sweat equity is the best kind of startup capital.”— Mark Cuban
This is a huge question for startup founders. If you are a founder, you know what I am talking about: how much of my startup should I give away?
If you can’t feed a team with two pizzas, then the team is too large. – Jeff Bezos. Investors want to invest in people more than products, because people make products.
I ask myself this question a lot. I think I could make an app for everything. But after three apps, I’ve learned a process that helps me determine if I should build an app or not.
America’s first major crowdfunding project was the Statue of Liberty.
If you have the curse of the entrepreneur, then you are familiar with the insatiable need to launch something – to create something and get it out there.
Gross profit margin — how efficiently is the product being produced? Net profit margin — how efficiently is the company operating as a whole?
The capitalization table (cap table) summarizes who owns what part of the company before and after financing. It is one of the most important elements of the term sheet because it outlines the complete transaction succinctly using concrete numbers.
Should you quit now because you’re wasting your time? If you look at many of the giant tech “unicorns” —private companies with over $1 billion valuation — and the major players in the public markets such as Apple, Microsoft, IBM, Google, and Amazon, you will find that the founders were often software or electrical engineers.