Startup Tips

Wisdom on writing a business plan, raising venture capital, and launching a startup.

Startup Tips

Five Ways to Make Sure You Get Turned Down by Venture Capitalists

VCs Laughing at You - How to Get Turned Down.jpeg

I get this all of the time as an angel investor:

  1. "My idea is bigger than Google or Facebook"
  2. "We are the Uber of __________" (fill in the blank)
  3. "We’ve been focused on product and haven’t had time to meet with any customers"
  4. "We need $______ million" (but don't provide any details on how you arrived at that number)
  5. "Here's my plan" (a one-page high-level financial forecast with no details, no unit economics, and no backup for that wild Revenue spike or 65% EBITDA that no company on the planet has ever achieved)

Please do me a favor: Do  your homework. Talk to Customers. Use the Startup Financial Model app. Then at least you will know what you don't know.


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