I need to finish ma platfom for foodies and recipe creators!
Long story short:
Guy ask me for intro to a VC.
Send me some documents, I said
I liked a concept, but don’t want to read a lot of ‘papers’ from another ‘dreamer’.
But when i opened first document i was amazed.
So clear, short, sub-headers that catch my attention, numbers was bold and simple.
It was that one document to rule them all.
It forced me to create this article.
So, what amazed me in is listed below.
They have a short plan how they will spend cash. Have 2 different estimates: positive and negative(7x difference).
First few sections can be more short for sure. 25% of bla, bla, bla texts can be removed.
Applicable industries can be converted into the list.
Strategy must cover a bad cases, like what they will do if they don’t get investors money.
If I get interested into a how-they-will-spend-money plan — it’s cool to have a link for detailed list with better explanation how money will be wasted. Short link is better.
There is no place where I can see something that was finished and works. All stuff is in progress. Better to focus and finish one ‘item’ in order to show potential execution.
Revenue model: very optimistic. A lot of potential stuff, but it’s only assumptions. If they list some examples of successful competitors with example how much they made — it can drive more credibility.
So if a lot of people will buy your product — for sure you’ll be rich. But if they don’t, hah? If things so bright, why you not pre-sale stuff and get money, that you need, right?
Thanks for reading. Please let me know what you think.