OpenCoffee Club

Place for people who love startups to hang out and meet

Curious to share some with other investors and also feel this will be enlightening for those looking to secure funding for the first time - so to get started.

At number one it has to be when someone approaches asking for money (and perhaps time) but refuses to give out anything without an NDA.From our point of view this is conversation killer and we don’t proceed, largely due to the fact that we don’t have time but more so that sophisticated entrepreneurs will have a prepared statement (doesn’t need to be longer than a paragraph) that explains their concept from 30,000 feet. This could effectively be the mission statement and shouldn’t give away anything considered to be the ‘secret sauce of the idea’ but it will allow the investor to gauge very quickly if the concept fits in with their high level investment criteria e.g. we focus on software and technology investments we would look at say, for example, a new dining concept - completing and NDA would be a timewaster for both parties.

This is closely followed at number two by … “if you don’t like that idea we have another one” !

Rav

Views: 7

Reply to This

Badge

Loading…

© 2022   Created by Saul Klein.   Powered by

Badges  |  Report an Issue  |  Terms of Service