25 lessons learned - entrepreneurship 101
TRANSCRIPT
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Co-Founder of ShopLocket Raised $1M+, Angel / VC Sold in 2014 to PCH
Founder of Female Funders Founded Angel School Author of O’Rei l ly ’s Funded 6 Time Angel Investor
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#25 LESSONS LEARNED
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VENTURE FUNDING IS NOT SUCCESS.#1
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GROWTH HAPPENS ONE CUSTOMER AT A T IME.#2
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RAISING VC MEANS YOU HAVE A BOSS.#3
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YOU’LL GIVE UP 10 - 30% EACH ROUND NO MATTER HOW MUCH YOU RAISE .
#4
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IF YOU’RE NON-TECHNICAL YOU DON’T NEED TO STAY THAT WAY.#5
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FOUNDER VESTING AGREEMENTS REALLY MATTER.#6
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KEEP CLEAN MONTHLY F INANCIAL STATEMENTS.#7
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EVERYONE MUST SIGN AN IP ASSIGNMENT AGREEMENT.#8
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A HIGHER VALUATION IS NOT ALWAYS BETTER.#9
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DO YOUR OWN MEDIA.#10
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EARLY STAGE FUNDING IS ALL ABOUT OPTICS .#11
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WORK THE BACKCHANNEL#12
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ALWAYS STAY FOR THE AFTER PARTY.#13
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CANADIAN INVESTORS IDOLIZE US INVESTORS.#14
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IF ITS NOT A YES , ITS A NO.#15
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LATER STAGE FUNDING IS HARD. GET PROFITABLE.#16
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HIGHER PRICES, H IGHER REVENUE.#17
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THE VALLEY WILL CHANGE YOU. GET ON A PLANE.#18
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IF YOU’RE IN HARDWARE, GO TO SHENZHEN.#19
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CROWDFUNDING IS A SCIENCE#20hackathon.pchintl.com/launch-academy
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THERE ARE NO MAGIC BULLETS. (NOT EVEN YC)#21
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THE PEOPLE BESIDE YOU TODAY ARE YOUR “COHORT” .#22
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PUTTING YOURSELF OUT THERE WILL PAY OFF.#23
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“BALANCE” IS LOST GRADUALLY.#24
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BE A COCKROACH.#25
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kather ine@femalefunders .com @Kather ineHague