What you need first.
WHAT INVESTORS EXAMINE
The problem and who has it The solution Evidence that people want it The market How you make money The numbers The team What the money is for
WHAT EVIDENCE MATTERS MOST
Customers, and what they do.
WHY
Everything else is argument; customers are proof.
WHAT COUNTS AS EVIDENCE
Revenue Repeat purchase Growth Retention Paying customers, above all
WHAT DOES NOT COUNT
Registrations Expressions of interest Letters of intent, largely
WHAT TO PREPARE
A short presentation A financial model Supporting documentation
WHAT DOCUMENTATION TO HAVE READY
Registration and constitutional documents Financial statements Tax filings Contracts of significance Intellectual property assignments The shareholder register
WHY INTELLECTUAL PROPERTY ASSIGNMENTS
Work produced by contractors without written assignment may not belong to the company, and this stops transactions.
WHAT TO FIX BEFORE RAISING
Missing filings Undocumented arrangements Unclear ownership Mixed personal and business finances
WHY BEFORE
They delay or kill transactions, and they are visible.
HOW LONG PREPARATION TAKES
Longer than expected.
WHAT TO ACCEPT
That raising will consume the founder for months.
