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Hot Seat
book

Hot Seat

by Dan Shapiro
May 2015
Intermediate to advanced
322 pages
7h 26m
English
O'Reilly Media, Inc.
Content preview from Hot Seat

Chapter 23. Conclusion

I sat befuddled as a multipage Excel spreadsheet crisscrossed my laptop screen with a grid of numbers, labels, equations, graphs, and circular reference warnings.

My lawyer, Craig Sherman,1 looked amusedly at me. “In case you were wondering, this is what happens when they let lawyers do math.”

Financing a company is complicated, stressful, all consuming, and brutally hard. But it’s always helpful to step back and remember the big picture. Angels are just rich folks who think funding startups is a worthwhile thing to do with their money. Venture capitalists are professionals whose job is to make money. Everyone is in it because they think you might be doing something awesome, and think maybe they want to be a part of it.

They are all usually startup fans, well intentioned, cheering for you and enthusiastically supportive. They’re also overwhelmed by companies with dubious prospects, hands outstretched, begging for every moment of their free time.

Your job as a startup founder is to be the 1%. In fact, 1% isn’t good enough—1% of startups get outside funding, but only 0.1% do really well. And only one in a hundred thousand companies are actually going to go public, make a billion, and/or change the world.

It’s not easy to do it. But now you’re now prepared to make it happen.

1 Of the legendary venture law firm Wilson Sonsini Goodrich & Rosati.

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Publisher Resources

ISBN: 9781449360801Errata Page