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As an entrepreneur, one of the most exciting moments you’ll have is being offered a term sheet. It can also be one of the most daunting if you aren’t sure what to look for. In this position, it is important to not only know what the terms mean, but also to understand how they work and which of them are most negotiable. Here’s a breakdown of some of the most critical parts of a term sheet.
Excelerate programming in July is limited to what we like to call the “Entrepreneurs’ MBA.” During this time, we bring in experts in their respective fields to discuss all the topics that entrepreneurs need to know, but is knowledge they won’t get anywhere else.
To kick off this programming, our very own Troy Henikoff spoke to the teams on the process of creating a financial model. Troy’s motto of “what gets measured, gets done” is applicable to all aspects of a business, but is most apparent when applied to finances.
The first month of Excelerate is “mentor dating month”- a chance for startups to meet as many mentors as possible with the goal of forming meaningful long term relationships.
With only two weeks left in mentor dating month, we took time to catch up with some of the company founders and see how they’ve been dealing with all of the feedback they’ve received. We’ve already had hundreds of meetings take place inside the Excelerate office this month and expect still to have hundreds more by next Friday, so you can imagine the astronomical amount of advice shared in these past few weeks can get a bit overwhelming.
When you put a lot of smart people in a room together, something awesome is bound to happen. I’d like to take this moment to mark one of many awesome occurrences at Excelerate Labs this summer: IDEO visit number 1.
Top designers from IDEO are here for the 2nd year to help our companies focus on what matters most: the users. It’s clear that we have to know how our users think, and, especially, why they think that way, but they aren’t just going to tell us. Even if they do tell us, they’re not always right.