Valuation

The Introduction

Valuation

• Art– Intangibles that make give the investment

value• Science–Determining the correct number by using

math• Voodoo–Making it fit in your portfolio

The Set-Up

Market

–Size–Growth– Competition– Segmentable

/ Reachable

Management

– Proven–Full–Vested– Quality over

Quantity

Momentum

–  Partners–Management–Customers–  Get promises

for something from somebody

Money

–  Financials

–Projections

–Funding Past & Future

–Are you looking for a dividend business or a capital growth business?

Model

–  Revenue Model

–  Sales Model

–  Value Chain

–  Does it Scale?

Magic

–Sustainable competitive advantage– Intellectual

property– Barriers to

entry

Match

– Space – Stage–Round size–Diversify my

portfolio?

Final Notes

• Everything is: – Personal– Relative

• And the true price of something is only as much as something is willing to pay for it!

The End