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.
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Any entrepreneur who is serious about his trade will need to know about the term sheet.
“A term sheet is like a prenuptial agreement and a coach’s playbook. Spend the time to understand the plays, and what happens should you ever separate from the business.”- Mitch Thrower
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.
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.
The Billion Dollar Startup Club has 101 companies as of July 2015, with the number one private company valued at $46 billion. It’s no secret, technology has revolutionized entrepreneurship. The explosive growth of tech-based companies is at its highest since 1995, surpassing the dot-com boom of year 2000.
As a founder, you should ask yourself, “What is the final, desired outcome of my company?”
Shark Tank revealed how looking at Gross profit margin ( how efficiently is the product being produced) against Net profit margin (how efficiently is the company operating as a whole) can affect your chances of investment.
“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?
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.