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Why Early AI Revenue Hides More Risk Than It Removes

Why Early AI Revenue Hides More Risk Than It Removes

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Fundraising, Investing

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    The Importance of Your Pitch Deck

    1 min read A pitch deck is a huge step toward funding for a startup. In many cases, this is the first tool of communication you’ll reach for when presenting your ideas to an audience and first impressions count. A good first impression during a job interview may lead an individual to the career of their dreams, however, a good first impression during a pitch can lead an entrepreneur toward funding their dreams. A pitch deck is a brief presentation that provides your audience with an overview of your business. Ideally, the deck should answer any general questions an investor might have. The goal of the pitch deck is to introduce your startup to an investor. Additionally, the pitch deck should also serve as a way to highlight any essentials to an investor who may be considering your startup as an investment opportunity. What a pitch deck is not is a means to explain the full history of your company. It is also not a means to explain how your product works. These topics can be covered later on. Instead, focus on making a strong introduction of your company to the investor and do everything you can to leave a good and memorable first impression. Just as important as a strong first impression, is the proper follow up with an investor. After you’ve made your pitch, be sure to schedule a follow-up meeting with them. Use your meeting time to answer any questions the investor might have. Also, take advantage of this time and ask the investor questions you might have. Make sure you have new information to share. Give the investor a reason to join the call to learn more. The goal here is to keep the investor engaged well after you’ve made your pitch. Read more: http://staging.startupfundingespresso.com/how-to-build-a-pitch-deck/ Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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    Managing Your Expectations

    1 min read Being an entrepreneur and starting your own business is a rewarding accomplishment for any individual. As rewarding as being part of a startup may be, it is no secret that the job also comes with its challenges. Some may be foreseen; others, not so much. However, the one thing any fellow entrepreneur or investor will point out is that these challenges are almost always more difficult than expected. One of the most important things anyone can do as an entrepreneur is this: Manage your own expectations. Creating something from scratch is subjective and there’s no limit to what you can dream up or accomplish. As wonderful as this is, a limitless business idea can also be a downfall. It can do more harm than good if you don’t have a grasp on expectations. You have to give yourself the opportunity to make mistakes. It’s important to understand that things don’t happen overnight. Give yourself time and be realistic with your timelines along with what you expect to accomplish. Allowing your expectations to have too much freedom means you may start making promises you can’t keep. Don’t promise the world to your investors. Chances are, you won’t be able to give it to them. Investors don’t like it when people come in and try to promise them everything, even if everything is possible. Instead, give the idea some cushion and yourself some room to make mistakes. Always try to have a contingency plan. You can’t just say plan A is going to work right away. Plan A hardly ever works the way you want it to. Always have a plan B in case plan A fails and keep those expectations in check. Read more in our latest eGuide: http://staging.startupfundingespresso.com/education/ Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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    Your Data Room: What it is, and How to Build One

    A data room, sometimes referred to as a “due diligence box,” is a cloud solution made for the sharing and securing of sensitive business information. A data room should not be confused with a simple cloud storing service. When handling confidential information, you’ll need features such as rights management and Q&A. The goal here is to maximize your fundraising potential by being organized and demonstrating that you respect the investor’s time by being prepared. Having a well-organized folder is also an opportunity to show investors that you have a real business and are ready to raise capital. This data room contains vital documents about your business and is incredibly useful to your potential investors, so it’s essential to keep it both functional and secure. The materials in your data room should include:  Entity filings Patent filings Articles of incorporation Income statements Balance sheet Other documents detailing your business  Investors who want to invest will look for these documents so they can run their due diligence on you and your business. The more simplified you can make this process for them, the better. Spend some time putting your data room together and make sure you have all the necessary documents for your investors. Most importantly, be prepared and have these documents ready before you begin your raise. Continue reading in our most recent eGuide: How to Prepare for Your Fundraise   Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group  

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    Get to Know Your Investors

    As you go through the process of gaining introductions, contacting investors, setting up meetings, and pitching, remember the fundamental goal is to come away with a stronger relationship with the investor. A stable relationship with the right investor can single-handedly change the course of your business. Think about it this way: Each interaction is an opportunity for the investor to get to know more about you, but you are also getting to know more about the investor. Say the pitch didn’t go as planned, or the meeting didn’t stay on track, that’s okay. The most important thing is that you still grew the relationship. You want to get to know the person who is investing in your company. Ideally, you want to share similar goals and interests with them. Things will go much more smoothly if you’re both on the same page.  Having a strong relationship with your investor is essential. This person is likely to be in your life for a while; they’re certainly going to be there through ups and downs, so making an effort to get to know them on a personal level is essential. These individuals generally offer incredible business astuteness and resources to help your startup succeed. Continue reading in our most recent eGuide: How to Prepare for a Fundraise Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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    How Do Small Restaurants Fit into the Restaurant Tech Space?

    The restaurant tech space has turned into an exciting area for growth. It’s growing at a rate of 18% to 20% year after year. This massive growth is driven primarily by three significant trends within the industry:  Online ordering Online marketing  Restaurant delivery  With all of this growth, the industry will change again soon, driven by innovators looking to disrupt the small restaurant market. When it comes to independent restaurants, it’s important to remember that these businesses are cost-conscious. With food delivery apps making access to restaurants more convenient than ever, we still find pain points within the market. One of the most significant hurdles to smaller restaurants is being able to pay 30% on every order for the use of a delivery app service. When weighed against food costs, many small restaurants simply can’t afford the fee. It’s also important to understand that these restaurants have little or no background in digital commerce or technology. They also have less bandwidth to take on yet another aspect of business that is not directly making and serving food. As the industry continues to grow, focusing on small, independent restaurants is an excellent opportunity for any provider who can leverage data and provide not only online ordering, but help build an online relationship for the restaurants with their customers.

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    The Future of Remote Work

    As little as ten years ago, most jobs required spending 40+ hours each week working in an office, maybe another 10+ commuting to and from that office, and sharing a space with your coworkers was the norm. In recent years, the way companies are doing business and running their offices has shifted rapidly. There are millions of remote workers across the globe. Where we once had coworkers living in our same neighborhoods, we now have coworkers in different time zones, maybe even countries. While many of us can work remotely, comfortable in our pajamas, there are drawbacks to the isolation. We’re not interacting with others the way we are socially inclined to do. We find ourselves with nowhere to go to perform our work and loneliness has slowly started to become an epidemic. Working from coffee shops can be a less productive work experience, so we turn to coworking spaces. The problem is, these spaces can be prohibitively expensive for many. The benefits of coworking spaces are numerous. They offer remote workers a productive space to work and In many cases, they provide the social interaction we lack by not working with a traditional company in a conventional office. However, if we are to use these coworking spaces as intended, there first needs to be a disruption within the sector. That disruption starts with cost-effective solutions that meet the needs of all remote workers.

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    Funding from Family and Friends

    1 min read Should you raise funding from family and friends? Funding is a massive hurdle for any new business. In the beginning, it may be difficult to convince a traditional investor to see your vision and join your initial funding round. For this reason, many startups raise funding from family and friends to get the business up and running during their first round. There are pros and cons to funding your business with money from the people you know. You’ll need to approach the right people and keep it professional. The problem is, many startups are reluctant to take family and friends funding because they fear the awkwardness of what happens if things don’t work out. The glaring question is always: Should I take money from family and friends to fund the business? The answer is: Yes. Outside investors will look at family and friends funding as a sign of support for your business. This is a good thing. It is a major plus to have this support when you’re seeking additional funding later on. Consider it from the investor’s perspective: If your family and friends won’t invest, why should the outside investor invest? So, don’t be afraid to approach your family and friends for funding. In the long run, it can help you with additional funding in the future. Read more in the TEN Capital eGuide: http://staging.startupfundingespresso.com/family-friends-and-other-funding-sources/ Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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    Bootstrapping Your Business

    1 min read At its core, bootstrapping is about starting your business from the ground up without the help of outside sources. This process works by using personal funding in addition to the revenue of your initial customers to launch your business. There’s no doubt about it: bootstrapping can be tough. Limited income can sometimes inhibit growth. It also places all of the possible financial risks on the founder, which can be stressful. On the plus side, bootstrapping a business allows the entrepreneur to maintain total control over the company during its beginning phases. Perhaps the most significant benefit to bootstrapping a business is its appeal to investors. One of the most attractive elements of bootstrapping is that it is an excellent way for investors to see how serious you are about your business. It shows them just how much work you are willing to put in and your level of commitment. Additionally, bootstrapping your startup is a great way to stay disciplined with your cash flow. When you spend your own money, you’ll find that you spend much less of it. If you have the means to do so, think about bootstrapping your startup. It can lead to many more investment opportunities later on. For an in-depth look at raising funding for your startup, check out our guide: http://staging.startupfundingespresso.com/how-to-raise-funding/ Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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    Ignoring the Noise

    A top challenge for any given startup is breaking through the noise.  And noise is everywhere. We are privileged to be in an environment where there’s a lot of opportunity to work on a startup while trying to be innovative and entrepreneurial. The problem is, you’re in there with a lot of other people trying to do similar things. More people means more noise. So, how do you break through that noise? Try as hard as you can to not fall prey to the echo chamber. This is especially true when you see massive funding rounds or when you hear that another company you were competitive with got a term sheet from a top tier fund.  Ignore the noise. Don’t mimic what everybody else is doing. Pay less attention to what the trends are in NYC.  A startup is going to be one of the most emotional rollercoasters that you’re likely to ever embark on, so stay grounded however you can. The amount of noise and getting caught up in trying to mimic what’s going on in NYC or hearing about the gossip that gets passed around in San Francisco can be daunting. It’s very important to stay in your lane and run your own race.  Try not to get caught up.

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