2/16/22 - Brian + Twos Guys
by Parker · 40 things on Twos
- Has done legal work in everything but IP
- Nuvasive
- Investors want to hear your long term plan, give them confidence you are the right people to make it happen
- Raise a friend's and family with a convertible note or SAFE
- 10 yr + out for revenue in biotech
- Get money however you can in the seed
- Estimate out money and costs into the future 6 mo, 1 yr, 2 yr, ...5 yr
- VC money comes in stages as you meet milestones
- Set your minimum check size for the seed
- Convertible note converts into equity at a discount
- Set distinct directions for the company
- Spreading information across 5 different applications is a real world problem
- Are you solving a problem that really needs to be solved?
- How will you monetize?
- Is this a mouse trap that needs to be built?
- Personal assistant with optionalities
- Fully baked list of competitors
- Everyone wants to see this differently: matrix, chart, features comparison, etc.
- Commercialize the product
- User acquisition should be top priority
- If you have numbers you can monetize
- Short term and real long term product pipeline
- Make a business plan leading to user acquisition
- 1,000 -> 100,000
- Reframe the picture to a smaller picture for the lifetime of Twos
- 1 year in active development
- Show growth in users to investors
- Pull from social platforms into Twos
- Growth in users to get the investment
- Create an emotional aspect to connect with Twos. What will get people to want to use it?
- Twos: be thoughtful
- Twos: get organized
- Never forget life's important moments
- Have a vetted plan
- Put together a list of targeted seed investor
- We need your help
- 250,000$ per year to be an accredited investor
- Raise a seed for another year and then go for a larger series A with growth
- "Look at the growth"
- Revenue doesn't matter, number of active users