Tag Archives: Venture Capitalist

Don’t Build It and They Will Come, 90k Of Them!

That appears to be Martin Hasek’s philosophy, the creator of Noteslate, and it appears to be working. I posted about the Noteslate back in January, I was sceptical then and unfortunately my scepticism was founded, as this CNN report confirmed shortly afterwards, but that doesn’t appear to have stopped 64,000 people clicking the like button on their homepage, 10,000 following them on Twitter, plus over 17,000 optimistic hopefuls liking the Noteslate Facebook page (there were only 500 when I hit the like button!), most of which are keen to see a real noteslate in production, although some are flagging a bit now on the Facebook page, and posting negative and frustrated comments.

So why do this? Surely Martin is going to anger a lot of people when he comes 100% clean, or will he? After all he’s proven without doubt that his college industrial design project (apparently that’s where it all started) has a market, one that may make investors very interested in the concept, although without any IP protection, I’m not sure how interested they’d be… although if you do the maths, based on the original price of $100 per unit (highly unlikely), that’s still 90k fans & likes x $100 = $9m… not bad for vapourware! Plus if Noteslate don’t release it, someone else undoubtedly will.

Either way, I’d personally love to see a noteslate type of device, without doubt I’d use it everyday, it dovetails perfectly with our no paper philosophy, we’d certainly look at ways of communicating with it and automating syncing with our own systems.

One thing Noteslate highlights and proves to us at no paper, is that people have no problem imagining a world where they don’t use or rely on paper, of course we’ve believed that for a long time, but it’s nice to know others believe and feel the same!

more dis-information at noteslate

more information at no paper

I Say Potato, You Say Potarto

How most entrepreneurs initially present their idea to a Venture Capitalist.

Me Me Me!
2 mins
Introduction: why they’re amazing
5 mins
The Problem: why everyone else is wrong (why they’re amazing)
15 mins
My Solution: passionately explaining their solution in depth (why they’re amazing)
5 mins
Capital Expenditure: whiz through what they will spend the money on
2 mins
The Plan: Blue sky 5 year plan on how the business will grow exponentially

Then they wonder why it didn’t work. The ask, “is it because they didn’t explain their vision clearly enough? mmmm, surely not… it must be because the VC is short sighted and doesn’t like or understand their idea?” So, the entrepreneur asks how can they get the VC to be as passionate about their idea, as once they do, surely they’ll invest?

It won’t work and they won’t (except in rare occasions), they’re only investing with the entrepreneur for one reason, to make money! They’re not interested in the problem, or the solution, or what the entrepreneur does, so the entrepreneur shouldn’t waste their time and effort trying to get the VC interested. The entrepreneur has to think like the VC! so if you’re presenting to a VC here’s the way to do it.

Show Me The Money!
5 mins
ROI: What is their return and when will they receive it
10 mins
Capital Expenditure: How much investment you need, time frame, phases and why
10 mins
Risk Assessment: Company structure, detailing assets, IP, tangibles etc
2 mins
The Idea: The product
2 mins
You: Your background and history, contact details

This doesn’t only work on VC’s, try this approach with your next client presentation, get all the guess work, the money & nitty gritty details out of the way at the beginning, then show them where there money is being invested, that way you’ll know right from the start whether you’re wasting your time or not, and if they’re really interested they’ll extend the meeting to talk through your ideas.