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# 2024-10-31

[[2024-10-30]]    <-->      [[2024-11-01]]


Error generating daily quote

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## Notes
### Co Founder
- bei beiden ca gleich sein 
	- Vision& Motivation
	- geteilte Risikobereitschaft
	- Vertrauen und Transparenz
	- Gleiche Werte!!! Enorm wichtig (bzgl. Wie mit leuten umgehen, mitarbeiter, investoren, wie kündigen)
- Sei radikal ehrlich & kommuniziere grosse Änderungen
- Vergiss nicht Meilensteine zusammen zu feiern! Nicht inmer nur hustlen! Wichtig für die Moral
- Rollen und Verantwortlichkeiten klar verteilen
- Nur falls ein gutes Gefühl da ist ein Cofounding mit dieser Person eingehen. Ist fast länger als eine Ehe. 

### Corey Wright - How to pitch and raise funding
Great talk! And great guy. Was really inspiring. 

- its all about signaling


### Shareholder agreements

- speak with other founders (on vc portfolio) to know what you‘re talking about
- Make a simple term sheet before going to the shareholders 
- discuss the big picture
- Dont do veto rights to any singular parties
- Investors want to see vesting for the founders
- Founders thought: what is the money for?


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### Interesting Stands
- nuuro
- Cyltronic: aktuatoren
- 

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### Things you should do before talking to an investor

Red flags for investors
- Compnies invest in Businesses not in Hobbies: be comitted
- venture funds want money in 5-10 y
- investors want ppl that commit and fight fight fight. They don‘t want a bunch of freelancers. They want to see distuptors
- be versatile and don‘t be overly structured
- No1 mistake: development of product that noone (product market fit - book blueish)
	- Main 5 metrics
	- Customers who pay 
- Investors like clarity and simplicity 
	- Don‘t hide in questionable law structures
- Focus on one problem which is big. Nothing else. Become an expert on that problem and once you make 10M revenue you can add another product. (Problem where the customers pay for)
- There are always competitors! And if there are not there might be a good reason why not. Make your research! Other countries, languages etc
- Investors want to solve big global problems! Think big enough. 
- Ideas are worth nothing until they are implemented and touch peoples lives—> what people are capable of implement, then sell it to paying customers (skillset changes over time) —> one founder needs to build than sell, quick learners, big focus, adapbtable, drive and passion, you need to motivate ppl to follow you, no your blindspot (weakness and be open to it)
- As founder you need to keep as much equity as possible 
- Founders need to keep share until series B and C. Don‘t give shares early on
- Founders need money and advice
- Skin in the game! Once you raise money

- vc if you can grow to 100M revenue (network effects)
- Single founders are a single point of failure: do vacations to get off and reflect, destroy your health
- Of you are a single founder know your weaknesses and find ppl to fulfill that

Dos
- strong strong team 
- Europe is number driven
- Us wants to see a story
- Keep the equity as long as you can
- if the time is not right, don‘t do it (explain why you do rhe plan you do)
- Take investors comments as constructibe input

Of you get a no from an investor: ask them if he knows someone who might want to invest

Competition exists: good sign, because there is a market. You need to show how youre better 

If you‘re older than 5 years: reincorporate

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### What investors really look for in startups

Seed capital: use carefully for product market fit. Once found, spend like crazy

- seed: 3 slides for why you deserve seed, 10 slides how you go for series A (show seed investors how you 5x their money)
- Understand VC game before talking to them (what is their interest? Often they want to wait for a later round)
- Why now? Very important vc question. They look for fast growth and scalibility
- Pitch to less interesting investors first to learn how to pitch and then for main investors
- Endurance: ernest shakalton (book)
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## Reflection