2. Wiley Larsen
About me:
, Venture Manager, ASU SkySong
President, Owner, and CEO of
Dilla Marketing Group, COO, CFO
Director of Sales and Marketing,
Principal Designer, Creative Director,
Webmaster, Head Software Architect,
Chairman of the Board,
Receptionist
Red Flag #1: Wearing too many hats
4. Red Flag #22
“Hi my name is ___________.
If you can just sign this
NDA, we can get started.”
5. Don’t: Ask for an NDA too early
Do:
• Be careful not to divulge too much
information
• Ask for an NDA when the investor
begins to show genuine interest
• Remember it’s as much about your
ability to execute as it is about the
solution, so don’t oversell the
technology and undersell yourself.
17. You have competition!
• If you thought of it, chances are
someone else has too
• If you haven’t found them, you
haven’t looked hard enough
• The status quo is competition
– It’s not really that big of a
problem
– It’s too costly to solve
• Competition is validation of the
market and customer base
• Second Mouse…
18. Red Flag #99
“If we capture just
2% of this $57 Billion
dollar market, we’ll
be a $100 Million
dollar company“
22. Honorable Mentions:
• “I want control of the company, so I retain 51% ownership share.”
• “I have been working on this my whole life”
• “My team is made up of my brother Chuck, my cousin Bobby, my
wife Janet is CFO and my dad is chairman of the board.”
• “We had an early investment of $1.2 Million about three months
ago and need just a little more to complete the beta site.”
• “I’m a serial entrepreneur”
• “This is our last shot, we really need your support”
• “I’m looking for $500,000 in exchange for 10% of my company”
23.
24. Thank you
Wiley Larsen
Venture Manager
ASU Entrepreneurship and Innovation
Focus: Faculty Startups / Furnace
wiley.larsen@asu.edu
480-884-1803
25. Resources/References:
• YouTube: Bill Reichert – Top 10 Lies Entrepreneurs tell VCs
• Rob Adams: A Good Hard Kick in the Ass
• http://geekyfry.com/management/marketing/pam-tam-sam-som
• http://blogs-images.forbes.com/truebridge/files/2012/04/IPO-Chart-21.png
• http://www.garage.com/resources/perfectingpitch.shtml
• Dragon’s Den https://www.youtube.com/watch?v=RidDRTl_SQs
• Marketing your Startup – how to be heard above the noise 7/11/13 2:30pm
• Furnace Technology Transfer Accelerator 7/15/13 2:30pm
• Licensing IP from Universities – 7/17/13 12:00pm
• Intro to Equity Financing -- 7/17/13 4pm
Upcoming Presentations: