Provides a great outline in short order. Also see Part I of this series: Elevator Pitch
This is a thorough, yet brief post on how to raise money from Angels and other seed investors. It gives very tangible advice. If you’re in this stage of your startup (which we are at Pocket Tales), you can start using this information immediately.
We can’t all be SEO experts, but tools like these make it easier to “do-it-yourself” when you need to be.
The 4 Content Sources I Never Miss
Like a good lifestyle designer, I try to adhere to a low-information diet. While my Google Reader and @bknotts twitter account subscribes to much more, these are the select few information sources that don’t receive the “mark all read” kiss of death without actually being read.
Notice that none of these are from Indianapolis. I’m still looking for those people who can provide consistently great content on the startup and innovation scene here in Indy.
I started this blog because I saw that as a gaping hole in our community and I have some friends who are doing their part too, like Drew Loftus at RewardSnap, David Weisburd of Indy Tickets Express, and Matt Hunckler of Repurify. They along with some other friends have started an ongoing meetup for people interested in Indianapolis startups which I will certainly be sharing more about.
In the meantime, check out these content sources to learn something about startups and get your inspirational fix.
Fred Wilson
Blog: www.avc.com
Twitter: www.twitter.com/FredWilson
Wilson is a New York-based venture capitalist with a focus on early stage web services. His blog posts are pithy and you can expect great gems of wisdom on nitty gritty details like this post on the affect of options pools on valuation. Follow his tweets too since they’re infrequent (once or twice daily) and interesting.
A free, online book about the smarter, faster, easier, way to build a successful web application from everyone’s favorite agile software company.
Free Model Legal Documents for Startups
In startup hotbeds like Silicon Valley, Boston, and even New York it’s common for law firms to work out special arrangements with startups who generally have little cash (usually that’s why they need a law firm in the first place, to raise cash). These law firms are willing to defer payment until the cash is raised or even accept equity as payment.
Law firms in Indianapolis are also familiar with special arrangements for startups.
At Pocket Tales, we’ve looked to Nick Mathioudakis from Baker & Daniels for help, but I’ve also seen Barnes & Thornburg, Alerding Castor, and to a lesser extent Ice Miller (although right now they have a case study for a startup on their homepage), hanging around the Indianapolis startup scene.
This is great for the startup but obviously there’s something in it for the law firm too. Assuming they continue to survive, startups generally require a lot of legal work and a successful startup can be a big revenue source for law firms. Mint Founder Aaron Patzer estimated legal costs of $10,000 - $50,000/ month not including special events like incorporation and additional rounds of fundraising.
What if you’re not quite ready to seek professional legal advice?
You can help yourself.
Mint CEO Aaron Patzer - Presentation on Budgeting, Hiring, and Raising Capital
The following video and presentation contain actual numbers from Mint.com’s startup story. It shows how Patzer and team budgeted expenses, hired developers, and raised multiple rounds of capital from “Garage” round to exit.
And it’s all wrapped up into a succinct 20 minute presentation.
This is extremely useful information; especially, for early-stage Indiana tech startups who see few if any examples of this type locally.
Patzer’s revenue model slide is particularly ingenious.
About this Blog
The primary purpose of this blog is to record for prosperity the experience of starting my first company. I’m a forgetful and nostalgic person. I expect to search this blog constantly for my own advice, for quotes of inspiration, and for links to useful resources. Also, many years from now, I expect to read these posts and laugh at how much and how little has changed.
The secondary purpose of this blog is to inform and connect other early stage entrepreneurs in Indianapolis, IN. There are no shortage of people telling me that Indiana is not the place to start an emerging technology/ low-cost internet company. There is little to no capital here for pre-revenue companies and similarly, its harder to find developers and other professionals desiring to work for a startup.
