Typical revenue requirements at each stage of Vc

Michael Ho clearly defines the steps in VC capital raises 

→ Pre Seed - 0 to $1m - Discovery 

• you understand a wicked problem - and you have the engaged team who are looking to find the pain killer 

→ Seed- 250k - 1m - Problem - Solution fit 

• it’s about acquiring happy and engaged customers 

→ Series A - 1m - 50m - go to market fit 

• you have a repeatable scalable factory that can find and win lotsa customers 

→ Series B - 50m plus - scale product market fit 

• You break the $10m barrier 
• You’ve derisked and ready to scale 

→ Series C-E - scale 

• You’ve broken  the $30m  barrier and looking for new products and new markets 

--

♻️ Repost to help a founder in your network

Where are you in the process ?

Never give up !!!

The dude was 65c  broke and living in a tiny house with a beat-up car, relying on $99 social security checks. 

Armed with a mouthwatering chicken recipe, he set off to sell it to restaurants across states.

There were over 1000 rejections, but he persisted - he had no choice!!!

On the 1009th try, he heard his first yes. 

That man was Colonel Harland Sanders, and with that yes, Kentucky Fried Chicken (#KFC) was born. 

Never give up and always believe in yourself, even in the face of 1000 no’s !!!

Relaunching #referron after 1000 no’s - am I crazy? 

What does it take before VCs will look to invest pre seed or seed capital in your start up ?

My friend, Chris Flavell,  shares an interesting article piste by Michael Ho , former Vc and exited founder -   with some interesting stats around how much revenue you need before a fund will look to invest  pre-seed and seed round in your startup 

This is really interesting for me - as we look to raise a pre- seed or seed round for referron! 

⁉️ How do you first get traction and contract revenue followed by  a path to scale in USA, Asia, India or the UK?

🤔 A survey with 110 seed and pre-seed VCs by Right Side Capital Management about  their revenue expectations for 2024 showed that the sweet spot seems to be $300k - $600k 

💥 for a $4M Seed

→ 17% are okay with pre-revenue

→ 29% want to see $150K to $500K

→ 28% are looking for $500K to $1M

→ and 24% say they're looking for $1M+

💥 for a $1.5M Pre-Seed

→ 46% will invest pre-revenue

→ 27% are looking for $0 to $150K

→ 15% want to see $150K to $500K

→ and 10% are looking for $500K to $1M

What are some other things a VC look for? 

The Right People maybe? 

The technology?

The exit strategy ?

What else ?

Surround yourself with people who care about you and want you to do better

When I left PwC to run VentureCrowd full time, the head of our largest institutional investor told me I didn’t have what it takes to be the CEO. That crushed me for a long time and served as the most extraordinary fuel for the imposter syndrome I’d been struggling with for years. Most founders I know deal with this very challenge every day.

What I didn’t realise at the time, and I guess he didn't either, is that that one comment would become the single most motivational thing anyone has ever said to me. 

Last year we generated over $6M in revenue at a gross margin of 51%, clocked over $330M in capital raised for over 150+ venture capital, property and private credit deals, and distributed over $23M to investors across a range of funds … and I am absolutely pumped for what is coming this year! 

These days, I surround myself with people who are always prepared to challenge me, because while it's nice to be told you’re doing a good job, it just doesn't help make you better

BSI Launches AI Academy in Australia

Facilitated by the legendary Technology Guru in Australia , Tony Surtees, BSI Digital Learning has partnered with Silicon Valley’s Scott Galloway’s Section School to launch an AI Crash Course and AI Academy in Australia. 

What does the AI academy do?

The AI  online programs are aimed at upskilling business professionals in AI amid a skill shortage in the sector.

Just this week the Tech Council of Australia released a jobs report that prophesied 200,000 AI jobs in the country by 2030. 

However, the report also strongly highlighted the need to address the skill shortages across businesses for this to happen.

The Crash Course, priced at $600 is tailored towards professionals. It involves one hour of learning per day over five days and includes video learning, live workshops, in-depth coursework, hands-on activities and access to support tools.

The course aims to introduce participants to AI in business and enhance their personal productivity by leveraging AI to manage workflows and save time.

The Academy is positioned more as an online portal, offering a 12-month subscription priced at $1000. This provides access to AI courses and business workshops, both live and on-demand.

It features AI resources, downloadable materials and members-only discounts on an upcoming Mini MBA program. 

The Academy is designed to build AI literacy, capability, and targeted skills for specialist roles and functions, with courses updated every 30 days to keep up with AI developments.

Who are the facilitators?

The Section School facilitators come from big tech companies such as Google, Meta, Apple, and Amazon – with the idea that the curriculum is being led by experts who use AI daily and is grounded in real-world application.

The launch of these courses comes at a time when a plethora of AI training programs are being spun up globally. 

According to Simon Dewar, the group CEO of BSI Learning, its offerings are unique as they offer a flexible learning environment aimed at businesses.

”Unlike traditional academic courses, Section School focuses on practical, blended and digital approaches, that enable busy professionals to access both live and on-demand forms of learning,” Dewar said.

Dewar also said it’s important for businesses to skill up sooner rather than later.

“AI experimentation and pilot projects are currently underway in most sectors, as companies search for ways to learn about, and then capitalise on AI,” Dewar said.

“Typically, the biggest beneficiaries are those who are able to adapt to these changes first and deliver a first mover advantage to businesses and individuals that get onboard early.”

This news comes just one day after Redactive AI — founded by Atlassian Alumni — secured $11.5 million for its enterprise-grade AI solutions platform for businesses.

 

Thanks for an amazing article @smartconpany (here is a link to the article 

Here are 8 great quotes on success, action and failure

As a friend of mine said

Action without vision is hallucination 

Vision without action is chaos 

But vision with action, my friend is the key to success !! 

Here are 8 gurus that say  sort of the same thing! 

1. "All our dreams can come true if we have the courage to pursue them." - Walt Disney

2. "Success is walking from failure to failure with no loss of enthusiasm." - Winston Churchill

3. "Try not to become a person of success, but rather try to become a person of value." - Albert Einstein

4. "It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change." - Charles Darwin

5. "I have not failed. I've just found 10,000 ways that won't work." - Thomas Edison

6. "The whole secret of a successful life is to find out what is one's destiny to do, and then do it." - Oscar Wilde

7. "Don't be afraid to give up the good to go for the great." - John D. Rockefeller

8. "I find that the harder I work, the more luck I seem to have." - Thomas Jefferson