Startup Tricks Of The Trade, John Shumate | TSP069 - a podcast by The Successful Pitch | Conversations with Angel Investors, Venture Capitali

from 2016-07-25T14:10:36

:: ::

Episode Summary

John Shumate is the CEO of Venture First, a financial services group with a strong focus on empowering entrepreneurs. Venture First helps companies by providing the financial and strategic tools necessary to succeed. John dives into how entrepreneurs can structure their funding, how to build a better connection with investors, and shares a client case study. Tune in to hear more about John and Venture First.

What Was Covered

04:15 - How did John get started?
06:15 - What does John look for in a pitch?
06:55 - VCs are betting on the person, not the idea.
07:35 - Aim to really connect with your investors on a personal level.
08:00 - Sell yourself first before you sell your product or service to the investors.
08:35 - There's no such thing as having the perfect pitch, so aim to have a collaborative conversation with your investors.
09:25 - Why do startups fail? They run out of cash!
10:20 - Raise about 20% more money than you think you need.
10:40 - Plan for 18 months worth of funding. This gives you a full year to focus on executing.
11:55 - Are we experiencing a startup evaluation bubble? Yes and no.
15:55 - How does John think about and handle the barrier to entry, and an entrepreneur's competitors?
18:20 - John talks about his investment criteria.
19:25 - John shares a case study about Edumedics.
23:40 - What kind of services does John offer?
24:45 - How does John and his company stay so organized? He recommends Asana.
26:30 - John believes entrepreneurs should read The Hard Thing About Hard Things.