So you want to start a business? - Entrepreneurship 101
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So you want to start a business? - Entrepreneurship 101
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As an entrepreneur, you need to develop a long-term financing strategy for your business. This session helps you determine what financing approach is right for you. Key topics covered: bootstrapping, angel investment
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So you want to start a business? - Entrepreneurship 101
- 1. So you want to start a business? Marc Faucher | April 2016
- 2. Friends & Family • Individuals or family offices Angel Networks • Maple Leaf Angels, GTAN, AngelOne, North York Angels, etc Accelerators • Highline, Y Combinator, Velocity, etc Institutional seed investors • Golden VP, Mantella VP, Real Ventures, MaRS IAF, etc Institutional investors that dabble in seed deals • BDC Capital, Relay Ventures, Omers Ventures, iNovia, etc Commercial Institutions • BDC Entrepreneurship Centre - loans up to $200k; personal guarantees Others • Lots of other means… Sources of Early Capital
- 3. First ask yourself the right questions • What is the ideal end game? • How do I define success? • Do I want to work for myself or someone else? • What is the right long term financing strategy for me? Challenge question: You’re two years into your new venture, and offered $12M cash for your business. Do you take the offer?
- 4. Understand the dynamics of your business • Revenue streams • User growth vs profitability • Hyper competitive vs mature industry • Size of market opportunity • How do I scale by business • Quantum of capital required to “succeed” Challenge comment: Create a clear and specific investment hypothesis in all areas of your business…especially those you don’t yet fully understand.
- 5. Sources of Early Capital • Governance • Investor Expectations / Outcome • Cost of Capital / Dilution • Investor Contributions Considerations Friends & Family • Individuals or family offices Angel Networks • MLA, GTAN, AngelOne, North York Angels, etc Accelerators • Highline, Y Combinator, Velocity, etc Institutional seed investors • Golden VP, Mantella VP, Real Ventures, MaRS IAF, etc Institutional investors that dabble in seed deals • BDC Capital, Relay Ventures, Omers Ventures, iNovia, etc Commercial Institutions • BDC Entrepreneurship Centre - loans up to $200k; personal guarantees Others • …
- 6. Where do you go from here? • First ask yourself the tough questions • Find yourself a great mentor • Research the various products • Seek warm introductions where possible • Hustle