Join Whitney Johnson for an in-depth discussion in this video Reaching a deal, part of Entrepreneurship Foundations (2014).
- You've identified people who are interested…in investing in you and your company.…Now it's time to establish rules of engagement.…As a first step,…there will be a term sheet.…This is a nonbinding document…that outlines the terms of your deal.…It will include how much of the…company the investor will own and at what price.…How much stock needs to be set aside…to attract talent.…What kind of rights the investor has…if the company is sold.…Who will be on the board of directors,…and when the deal closes.…In the exercise files I've provided…a link to a sample term sheet…from the National Venture Capital Association.…
In evaluating this term sheet,…you would want to build a capitalization table.…This is a spreadsheet that shows how much…each person owns with the company.…As you negotiate,…you'll want to keep in mind…the investors perspective.…Your first outside investment…will probably come from an angel investor.…A high net worth individual,…who is putting their personal capital at risk.…Usually in the amount of 25,000…
- Cite the steps that can help you find an unmet need.
- Differentiate between a business and a hobby.
- Recognize how to decide between an online business and a brick and mortar business.
- Describe how to protect your intellectual property.
- Explain the best practices for hiring the right people.
- Recall the importance of tapping into networks of expertise.
- Cite the best practices for building a business website.
- Summarize the best metrics to use for your online business.
Skill Level Intermediate
Management Foundations (2013)with Britt Andreatta2h 9m Intermediate
1. Finding Your Big Idea
2. Starting Your Business
3. Building a Team
4. Marketing Your Business
5. Scaling Your Business
6. Funding Growth
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