Highlights of Being an Entrepreneur in the 21st Century – Part 2:
- Uh, Oh. These are our friends and family! And we really need their money.
- The solution: Fairness, Alignment and Governance. All built into the structure of the company.
- More good news is that there are lots of angel investors.
- Angel Co-Investment – groups of angels now often invest $5 to $10 million in a company over several rounds.
- Tip: Why are they investing? Hint: This answer applies not just to the Friends and Family round but to all rounds.
- I believe exits are the best part of being an entrepreneur or investor.
- But it’s also the least well understood part of being an entrepreneur or private investor.
- One of my life goals is to provide information to help entrepreneurs execute better exits.
- The media always reports on the really big exits.The ‘new’ big story is the large number of smaller exits.
- Google wants even earlier exits!
- “90% plus of our transactions are small transactions…less than 20 people, less than $20 million”
- Google said: “we do prefer companies that are pre-revenue”
- Examples of these exits. Why this is happening now. How it looks from a Fortune 500 senior exec.
Part 2 of the Being an Entrepreneur video series is also available on Youtube.