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Tim Jackson, Hub Westminster 6 February 2013. THE SEVEN QUESTIONS I ASK BEFORE MAKING AN ANGEL INVESTMENT 7.

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Presentation on theme: "Tim Jackson, Hub Westminster 6 February 2013. THE SEVEN QUESTIONS I ASK BEFORE MAKING AN ANGEL INVESTMENT 7."— Presentation transcript:

1 Tim Jackson, Hub Westminster 6 February 2013

2 THE SEVEN QUESTIONS I ASK BEFORE MAKING AN ANGEL INVESTMENT 7

3 IS IT REALLY A STARTUP? 1

4 DO THE FOUNDERS HAVE THE RIGHT STUFF? 2

5 WHAT TRACTION DOES THE COMPANY HAVE? 3

6 HOW BIG IS THE MARKET? 4

7 HOW MANY CUSTOMERS WILL YOU HAVE A YEAR?

8 HOW MUCH WILL THEY SPEND EACH?

9 AND HOW MANY TIMES?

10 WHATS THE MARGIN?

11

12 EBITDA: Customers x $ Transaction Value x Annual Frequency x Margin %

13 LOG(EBITDA)= SCORE OUT OF 10 $10B = 10 $1B = 9 $100M = 8 $10M = 7 $1M = 6

14 HOW HIGH ARE THE BARRIERS? 5

15 HOW MANY IMPOSSIBLE THINGS DO I HAVE TO BELIEVE? 6

16 MVP Earlyvangelists Core team Growth hypothesis Plausible revenue model Proven product Barriers erected Competitors overcome Product extended Exit likely in 1 year

17 WHAT IS THE BUSINESS WORTH? 7

18 Four variables

19

20 www.leaninvestments.com


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