Whether you ever raise funding from investors or not, you as an entrepreneur really benefit from being able to see your business through the investor’s eyes. Check our more of the early investor’s Jeff Clavier mindset in the infographic above. TEAM Jeff: "How do I feel about working with this team 5-6 year?" - the ideal combo: 1 developer, 1 designer, 1 business expert - too many people: 5 founders - lonely journey(but you can do it): solo founder (ex. mint.com( - seen it work: married (ex. Eventbrite) - who will build?: all business experts PRODUCT - alpha product released - is there organic retention - what's the user acquisition model? TRACTION -revenue opportunities - feedback from early users - retention is key - unit economics - rough acquisition costs: SEM, Facebook, PPI - comparables: LTV, RVP, rDAU MARKET OPPORTUNITY - Enterprise (SaaS): $10-$50M revenue, within 3 years - Consumer product: 10M-100M users VALUATION Jeff: "I like everything so far, but what will it take to raise Series A 18 months from now?" - is it expensive to build (ex. e-commerce marketplace) - Are VCs interested in this type of product? OK, I'LL INVEST FUNDING - last as long as you can (family&friends), Bootstrap, 0-$100K - lasts 12-18 months, Seed, $1M - 1.5M - lasts 2 years, Series A, $3M - $5M - Series B, $8M - $15M FOUNDER DILUTION Source: http://fundersandfounders.com/inside-the-investors-mind-jeff-clavier-early-investment/

1. Is eTeIv s rʼ Mid
ni h n et s
d
o s n
JfCa ir l T ru hE r Iv s e t n ls
ef lv Wak ho g al net n A ayi
e
s
y
m
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g
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2. TA
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em
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n
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3. P OD C
R U T
ap apo ut
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iteeog n
sh r ra i
c
rtnin
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w aʼ teue
h t h sr
s
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o
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rd c

4. TA T
R CI
ON
rv n eo p r n is
e e u p ot i
ut
e
fe b c f m
ed akr
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e r ues
al sr
y
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o
s
SM
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P
t co
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ai
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T
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5. MA K T P T NIY
R E OP OR U T
nepi
s
wti
i n E trr e
h
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3y as (a S $ 0$ 0
er
rv n e
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0
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sr
po ut
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m re o p r n y
ak t p ot i
ut

6. V LA I
AU T
ON
Ii eeyh g
le v rti
k
n
s frb t h t i
o a, u w a wl
l
itk t ri S r s
ta e o as ei A
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r C
iie p ni t
st x e s e o
v
t e
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u d e . - m ec n rs n
l
c
titp o
h ye f
s
m repa e
ak tlc)
po ut
rd c
?
vl t n
au i
ao

7. OK I L NV S
,ʼ I E T
L
vl t n
au i
ao
o,
k
Ilnet
ʼi s
l v
fn i
u dn
g

8. F NDNG
U I
B os a
o trp
t
lsa ln a y uc n
at so g s o a
( m l&r n s 0- 1 0
f i fe d)
a y i
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at 21 o ts
s
8
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ed
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ls 2y as
at e r
s
Sr s
ei A
e
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ei B
e
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8 $5
fn i
u dn
g

9. F ND RDL T
OU E I I
U ON
i u aos
n b tr
c
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%0
se ru d
ed o n
o t np o
pi o l
o
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ru d
on
2 %-5
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Sr s
ei A
e
2 %-5
0 2%
fu d r i t n
o n e dl i
uo

10. OT E I E T S
H R NV S OR
hʼ
w os
i
on g
ji n
s
u?
51
5
i cp
na
tbe
al
13u C
- Vs
1t dt n l C
r i aV
a i
o
( y um s
i o ut
f
)
h lfl n es
epu a g l
( i e p rs,i e
wt x ete t ,
h
i m
R ld x sn i t n
oo e ,y dc i )
ao
oh rnetr
te i s s
v o

11. F ND C
U S ONT C E
A TD
d ntakt
o ʼtl o
c mp tos
o ei r
t
pe ak t gr- rei
m
n
5fn s
ud
w i fn rin
h e u das g
l
i
1 o t fi o
0 u o le f
f
2 -5fn s
02 u d
fn s o tc d
u d c na t
e

12. C T
OS OFF NDNG
U I
aw y ue
la s s
lw es
a yr
i op rt n&
n roai
c
o
c net l n t $ 0 0
o v rbe oe 5 0
i
e u yru d$ 00 0
q i o n 2 ,0
t
$ 00 0
3 ,0
$ 00 0
3 ,0
oh r o n s
te ru d
$ 00 0
5 ,0
c so fn i
ot fu dn
g

13. I I WOR I
ST
KNG?
wlte
ih
l
c mp n
o ay
ri
as
e
sr s ?
ei A
e
ys
e
ge t
ra!
n
o
lt f dasfln i
eʼ i
sn
ota dn
g
au i
q ir
he
a q it n
cu i
si
o
iiw ri ?
st ok g
n

14. WH T V RWOR S
A NE E
K
n ci v ino po ut
o r p io f rd c
s s
n v inh w
o io o
s
t a q i ues
o c u e sr
r
fu d r a s I 5y as
o n e sy “n e r
Go gewl b yu”
ol i u s
l
w a n v r ok
h t ee w rs

15. T ER L
H UE
I a sm ial p
c n u t lu
fr o i m
o yun y
“ -se R l”
3A ss u
e
s at
mr
kk
i
c
bg
i
ta
em
po ut
rd c
m re
ak t

16. T ER S L
H EUT
S feh C
ot c V
T
1 0c mp n su d d
4 o a i fn e
e
(ne2 0 )
sc 04
i
slg i o
t on n
i
l
g
2
5 3 gt
0 o
d a aq i d
e d cu e
r
e . n. m
x Mi c
to
1 xrtr
7 eun

17. sfe h c o
ot c v. m
t
c
F n esn F u d r.o
u d ra d o n es m
c