Investment Readiness - Self Check Form

Investment Readiness - Self Check Form

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Въпросникът за самооценка на инвестиционната готовност е изготвен от Център Ринкър към Фондация BCause в рамките на проект „Финанси за социална промяна“, съфинансиран от програма Интеррег Дунав.

 

Моля, уверете се, че сте приели "бисквитките" на сайта. Иначе данните ви не могат да бъдат запаметени и използвани за оценка и ще получите съобщение "Грешка при изпращането".

 

Is your startup ready for investors?

 

The questions in the self-assessment check will guide you through the most important topics of the fundraising process.

 

There are a number of investors that are willing to support entrepreneurial endeavors in different domains and help that become successful. Keep in mind that every investor is taking a high amount of risk when investing in a company in such an early stage and this risk should be justified. The better prepared you are the higher the chance is to receive an investment. At the same time, investors are expecting a return on their investments and will probably seek a certain amount of control in order to guarantee that you will use their money in the best possible way.

 

Answer the questions as honestly as possible in regards to the stage of development of your startup.

 

 

Name of your Company / Organisation*
Your business project title*
Your email address*

 

Part 1: Founder Team Alignment

What characterizes your founder team best?*
A - I'm a single founder.
B - Our expertise is centered around our product. We don't know much about marketing, sales or finance.
C - In our founder team we have people with expertise in marketing & sales, finance and product development.
What would you say about your strategic milestones (key personal, finance, product/service development, customer acquisition)? Is your founding team agreed on what you want to achieve with your company? Have you defined a specific strategic milestone?
A - We haven't really discussed strategy up to now in our founder team.
B - We basically agree on the strategy but we have no specific milestones defined.
C - We have agreed on milestones for the next 18 months.
What would you say about your strategic milestones (key personal, finance, product/service development, customer acquisition)? Is your founding team agreed on what you want to achieve with your company? Have you defined a specific strategic milestone?
A - We haven't really discussed strategy up to now in our founder team.
B - We basically agree on the strategy but we have no specific milestones defined.
C - We have agreed on milestones for the next 18 months.

Part 2: Target Market Analysis

 

Let's think about the USP (Unique Selling Proposition) of your product or service, how much you know about finding new customers and also about generating revenue.

 

Who are your competitors and what makes your product unique?*
A - We don't know yet.
B - We don't have any competitors.
C - There is a long list of competitors but we do not have good differentiation points.
D - We know our direct competitors and substitution products. We can clearly explain how our product differs and how we can defend our position in the long run.
What do you know about your target market? Specifically about your market potential, different market segments and what your revenue assumptions are?
A - We haven't done any research yet.
B - We have defined our target market but have not done the maths on market potential.
C - We have broken down our market potential into multiple layers and prioritized the market segments. We can explain the revenue build up over 3 years with a top down market potential analysis and a bottom up revenue analysis.
Do you have a clear view on how to acquire customers? Think go-to-market strategy, customer acquisition costs (CAC) and life time value (LTV).?
A - No.
B - We know which target segments to address when.
C - We know specifics of target segments and have a list of customer acquisition channels.
D - We know our acquisition channels and assumptions on CAC and LTV per channel and when to start which campaign.

Part 3: Product Development

 

Your product or service is the core of your business. For investors it is important to see how much traction you have and how your product will evolve.

What can you confidently say about the demand for your product? Traction is proof that someone has a need for your product.*
A - We have a positive feeling but no clear proof.
B - We have some usage data from early customers.
C - We can explain in detail why there is demand.
Do you have a product roadmap that shows how your product will evolve?
A - We don't have a roadmap yet.
B - We have a high-level view on major product improvements but without cost estimates.
C - Our plan for the next 18 months is ready. It covers which features to add, what they will cost and how we'll deliver them.

Part 4: Financial Plan

 

Investors will ask tough questions about your financial plan. To convince them you must have a good understanding of the financial implications of your strategy.

How refined is your financial plan?
A - We are still working on it.
B - We have a plan with one revenue line and some cost details. We can calculate break even.
C - We have a detailed revenue calculation linked to market assumptions. Costs reflect our go to market strategy and we know our cash need.
D - We have three scenarios over the span of three years. We know our monthly cash need. We can explain our assumptions and show our KPIs to potential investors.
What other financing options besides finding an investor have you explored?
A - None. We address investors only.
B - We have some ideas of other cash sources.
C - We have a clear plan of financing options and amounts for the next 2 years.

Part 5: Company Valuation

 

Valuation can be negotiated with investors. It has a strong influence on the level of the company share you give off.

Can you defend the expected valuation of your startup?
A - No. We haven't done any research yet.
B - We know the valuation of other startups at our stage.
C - We can explain why our valuation differs from others but have not run any valuation models.
D - We know our valuation range. We have benchmarks. The results fit our expectations of how much shares to give to investors.

Part 6: Approaching investors

 

Addressing investors professionally in the right way is important and requires good preparation.

Have you created a list with the most suitable investors for your company?*
A - Not yet.
B - I know 5 early stage investors I want to talk to.
C - We already contacted 5 investors.
D - We have a list of 10 investors that have recently invested in startups in my industry in my stage and I know their email address.
How will you handle addressing different investors?
A - Just one by one.
B - I will talk to my most preferred investor only.
C - We know the structure of individual investor tickets, our timeline and the type of process we want to run.
Which documents have you prepared for potential investors?
A - None so far.
B - We have a pitch deck.
C - I have drafted an email.
D - We have a teaser document and detailed documentation for a pre-due-diligence.

Part 7: Investment needed

 

Knowing how much money you need and how and on what you are going to spend them is important for investors.

Have you got a specific amount for the investment that you are seeking?
A - No, not yet.
B - We have an estimate.
C - There is an exact amount that is agreed between the team.
Have you got a plan how the money will be spent and on what?
A - Let's have the money and we will come up with a plan.
B - We have come up with rough figures and a few key areas we want to spent the money on.
C - There is a detailed plan with a number of scenarios depending on the investment we receive. We have already received quotations about the services and assets that we are going to use the money for.
The investors would probably like to have some control over your spending...
A - How is that possible?!
B - Yes, we know that and we are ready to have a discussion.

Thank you for your participation!

 

Send this form to Rinker Center and you will receive an email with your answers and the key for your Investment Readiness.

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