But it wasn`t just Demo Day that helped us raise money. Compared to fundraising in Europe, the Bay Area process is extremely efficient and favourable to the founders. Pre-Series A investments are usually made through a standardized, simple agreement called SAFE, which is 5 pages long. The company receives an investment in exchange for granting the investor rights to future equity in the company similar to a share warrant. There are no lengthy investor negotiations on investment terms and no expensive lawyers or notaries who need to be involved. The agreement is signed electronically via the online platform Clerky. In practice, this means that the time of an investor who says “yes, I want to invest” to get the money in the bank can be as short as 2 days. This can be critical to the success of your business if you consider that you can work faster and continue to build the team and the product. “How can this be a multi-billion dollar enterprise?” The market potential is enormous, with 20 million salespeople, representing a market size of $20 billion. The interview usually begins with “OK, so tell me, what are you doing?” followed by questions about the problem you`ve solved, your USP, the market, the team and user acquisition. We have prepared answers to frequently asked and obvious questions to ensure that we can provide a concise and brief answer. We tried to use simple and simple words without jargon.
Suppose your interviewers don`t know anything about you or your market. My former mentor at Bain had a good tip: speak as if you were explaining it to your grandmother or your 6-year-old child. There are four versions of the new post-money safe as well as an optional letter of receipt. Demodesk coaches salespeople in the blink of an eye by automatically loading the right content at the beginning of the meeting, providing conversation tips and helping to edit sales in real time. “Why is it smart?” We collect much more data to analyze than traditional web conferencing tools. The content that is shared is not just a video. We know exactly what is being shared and when. Our introduction to product hunting was a good example. Via the YC network, we contacted other YC founders who have already started successfully.