tw preso v2
DESCRIPTION
TRANSCRIPT
NEAL’S V
IEW
ON S
TUFF
TE
CH
WI L
DC
AT T
ER
S 4
/ 23
/ 20
13
WHO AM I?• Dude / goofy / self absorbed / awkward / antisocial /
introvert / hermit
• School & College
• Negotiated for everything, even grades, computers, etc
• Love being cheap
• Wanted to work for Microsoft
• I’m Lucky, usually get what I want.
• I mentor & Invest, and have lots of investor friends.
• Don’t just focus only on the Pitch• Yes, some previous companies have gotten lucky• You’re not guaranteed anything• Build your Business; it’s your business!• After 3 months, you don’t have a free office, super-easy mentor
access, or introductions galore.• Investors are smarter than they used to be• We forget your pitch, We remember your business.• We’re analytical, and want to see $ & #’s
Time• Spend it wisely, getting drunk doesn’t get you funding or build a
business. • Is the market ready, if you’re too soon, nobody wants you, pivot now!
• If you don’t have Brains / ideas / adaptability, you are a loser.• Luck, if you don’t have it, I don’t want to invest in you.
GET THE MOST OUT OF TECH WILDCATTERS
LOWER YOUR STANDARDS• My wife did it when she went out with me, and it worked for
her.
• Get Down & Dirty, Don’t be afraid to look like an idiot if it
helps your business.
• Have ethics, but be comfortable living on the edge. Taking
ethical risks can be a huge reward.
• If you want to get laid, date the ugly girl. Sometimes to be
successful you need to do things you normally wouldn’t.
• Sure, at the end of the day you have to live with yourself,
but you also have to live with your investors.
WHAT MAKES YOU ATTRACTIVE
• Self Sustainability
• If you need to ask for more seed $ in 6 months, forget it.
• A concise pitch, if you can’t explain your biz, I can’t
understand.
• Know your numbers; Dream Big, but not insane.
• 500 users is meaningless, 5000 users is meaningless. $ is meaningful.
• Is the world ready for you and your business
• Be Sexy
• Numbers, know Customer acquisition costs, LTV, Burn Rate, etc.
• Have a plan that doesn’t just include Spending $.
FUCK OFF
• If you don’t want advice, don’t ask for it, but also, don’t expect me to write a check.
• That’s what I mean when I say “I’m too busy” repeatedly, or “great idea, but it’s not for me”. Leave me alone
• Again, don’t go messaging me on linkedin, about.me, angellist, facebook, twitter, email etc. If I don’t reply on one thing, I don’t want to talk to you, and even if I was interested at first, I’m not now.
• If you pitch me once, and I say no, don’t pitch me again unless something BIG has changed.
MY SECRET INVESTOR QUESTIONS
1. Do you consider yourself lucky?
2. Are you doing this fulltime?
3. How much $ would it take for you to walk away from this business?
4. If it’s not working, at what point will you give up?
5. If you don’t get any $, what will you do?
6. How many hours did you really work last week versus fundraising?
CONTACT
INFO
Neal Rapoport
Twitter: @[email protected]/nealrapAbout.me/nealrap
Don’t
be af
raid
to c
onta
ct m
e, I’
m n
ot a
n ass
hole
all
the
time.