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Inside this Book – With the encouragement of my PARENTS, Bernardo Cremades and Leticia Roman, I moved to the United States from Spain with my brother Bernardo on August 13, 2008, after obtaining my law degree in Spain. My brother is without a doubt my very best friend. On that day, after picking up our luggage and getting into a taxi, we were both completely wowed as we gazed through the windows on our way to Manhattan from the airport, while the driver, Luigi, told us his life story with a thick Italian accent. Initially, the plan was for me to earn my masters in International Business and Trade Law at Fordham Law School and then practice law as an attorney. I had a great time at Fordham, even though some of my classmates were old enough to be my parents. They all called me Junior. Three months before my graduation from Fordham, I received a great offer from the respected law firm King & Spalding. The partner who hired me was Edward Kehoe. Our first meeting was over breakfast at the Metropolitan Club. Ed is now a good friend, and he attended my wedding. I still remember my first day at the firm. It was like a Hollywood movie. At only 23 years old, I had my own secretary and my name on the entrance to my own office. It was completely surreal. After three years at King & Spalding representing major corporations in high-profile, billion-dollar investment arbitration cases, I discovered my true calling. It all started when I attended my first New York Tech Meetup with my good friend Luis Jose Scull. At the time, Luis was working for a hedge fund and sourcing tech startups as investors. One thing really surprised me as I immersed myself in the New York tech scene, and that was how difficult it was for entrepreneurs to access capital. When I researched cases like Pandora (rejected over 300 times before securing their first significant round of financing), I knew there was a big gap in the market. There was something missing and I wanted to find out what it was and fill that gap.
Inside this book –The Art of Startup Fundraising PDF Book by Alejandro Cremades – Some opportunists and entrepreneurs see the promise of funding or financing as the chance to get someone else to put money on the line to build their dream into reality, especially when it is a product or tool that can only be brought to life with major money. (Space exploration and revolutionary health-care progress are great examples of this.) But these types of fundraising missions represent big risks for investors. And if you’ve tried walking into a bank for a startup loan, you already know that it’s going to be a challenge. There is another way to approach raising capital for your startup. It’s meant to speed up the machine, not build it. This can really present the best opportunity for both fundraisers and funders. By building the product first, entrepreneurs establish that ownership, control, and lead. They also have the opportunity to build and hone a business model that works regardless of additional funds. That’s a much more powerful fundraising and negotiating position to be in. On the other side of the table investors are able to put their money to work with confidence, in a startup that has a product, and one which is proven to work. More money just helps to speed up the achievement of various milestones, and to magnify the successes and strengths. When you are raising money from outsiders, there will be expectations to deliver certain types of milestones in a given timeline. For that reason, it not only helps to have a product on the market with some historical data when negotiating your financing terms, it also helps to avoid a significant dilution that comes with raising money as you’re working to figure things out, assembling the machine. Most startups eventually pivot to adjust to what the market is telling them. I have yet to see a bulletproof business plan, so it’s important to have proof of concept and validation before taking the risk of bringing outsiders into the mix.
The Art of Startup Fundraising by Alejandro Cremades PDF : eBook Information
- Full Book Name – The Art of Startup Fundraising
- Author of this Book – Alejandro Cremades
- Language – English
- Book Genre – Non-Fiction, Business, Economics, Finance
- Download Format – PDF
- Size – 987 KB
- eBook Pages – 201
- Price – Free