Edition 13: How to say no; Discipline during fundraising; Getting things done;

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READS

Discipline for founders (by First Round)

Sharing the good, the bad and the ugly provides accountability and a forcing function. If you see numbers that are less than great, you’ll be tempted to make an excuse, point to another bright spot, or hold off on sharing until things improve. Or you might shift gears and work on another project as a distraction. But you can’t afford to do that.

How to say “No” (by Starter Story)

How to say no in any situation:

• Customers

• Investors

• Meetings

• Social events

• Pushy people

Getting things done, GTD (by Todoist)

While GTD requires an upfront investment in time and energy to set up, it pays off with consistent use. You’ll no longer worry about forgetting a deadline or missing an important task. Instead, you’ll be able to respond to incoming information calmly and prioritize your time confidently.

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OPINION

You are either fundraising or you are not

We see many founders are often swayed into fundraising before they are ready. The temptation to rush into raising can come from many sources, like an investor who sends a cold email wanting to meet for coffee, or the latest funding announcements that convince founders it’s the perfect time to fundraise.

“Activate “fundraising mode” by compiling:

➡️ key milestones and a list of relevant investor prospects; 

➡️ sufficient leverage to build investor demand;

➡️ an intentional plan for focused fundraising efforts.

Take an intentional approach:

🎧 Cut out the distractions: Fundraising can totally sidetrack the team and mess up the focus. So, here's the deal: let one person (usually the CEO) handle all the fundraising. That way, the rest of the team can keep our eyes on the business and not stress about money all the time. If an investor wants to meet everyone before they write a check, that's cool, they can all join in. But those team-wide fundraising powwows are pricey (time is money), so important to be smart about when to do them.

🏁 Keep the pedal to the metal: Fundraising eats up time and energy, and if you spend too long on it, you'll lose your edge in being fast and growing. Don't fall into that trap! Set a clear goal for how long you'll hustle for funds. By going all-in on fundraising mode, you can close the round and keep our growth game strong.

😉 Get that money smartly: Remember, the point of fundraising isn't to show off or get the fanciest price tag. It's all about getting funds to build and grow. Wrap up this funding round as quickly and smoothly as possible, with terms that won't bite you later. Then get back to building awesome stuff in no time.

The bottom line, if you're not careful, it can drag the team off course and eat time. Don't get dragged into fundraising at the wrong time – plan it out and stick to the plan, no matter how tempting other options might seem. That's how you'll set yourself up for even bigger wins down the road!

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ATTEND

🔥 Last few summer days and we are getting ready for a very packed September ahead! Pretiosum Ventures will be hosting multiple events throughout autumn aimed at early-stage founders, keep an eye out 👀

💻 29 August

Selling the Dream: How to explain your awesome market and opportunity to investors (no BS allowed)

Ever struggle to get that “Aha!" moment from investors? Need help reducing your “elevator pitch” to something you can actually finish during an elevator ride... and make it hyper-compelling? You may need help “Selling the Dream”.

🇩🇰 13 - 14 September

TechBBQ: Where Hygge and Tech Meet

Every September, the team welcomes an increasing number of people from around the globe. The annual summit expertly connects tech & hygge: it is designed so that you can meet innovative and groundbreaking startups in the ecosystem, discuss the latest trends, network in a cosy and vibrant atmosphere, get inspired by trendsetting speakers – and enjoy a good old-fashioned BBQ!

🇸🇬 13 - 14 September

Token2049

TOKEN2049 brings together the global Web3 industry, uniting entrepreneurs, investors, developers, industry insiders and global media - and creates unparalleled networking opportunities. This is the community that will define what’s next in the space.

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CARDS AGAINST VC?

Struggling to find an engaging game for a group of your VC friends? Cavalry VC created the perfect one.

• My best advice for a founder intro call is to focus on _______ path to

  profitability.

• Happy to give advice - I am really an expert in _______ a SaaS, aka

  Spritz as a Service.

• Had I invested in _______ Marc Andreessen's Unicorns, I would be a millionaire.

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LEARN

👀 We are watching How to Prioritize Your Time by Y Combinator

YC Partner Adora Cheung shares her framework for how founders can efficiently make use of their time. She covers ways to identify and prioritize tasks, in addition to how you can measure their impact on your company.

📚 And reading Contagious: Why Things Catch On by Jonah Berger

Some products, ideas, services, and behaviours catch on and become popular while others falter. Why do some things get more word of mouth than others, and how, by understanding that science, can we make our own stuff more successful?

Please note that any charts, data, or projections discussed are subject to change without notice, may differ from opinions expressed by others, and are for informational purposes only. They should not be relied upon when making any investment decision. The content speaks only as of the date indicated; Pretiosum Ventures has not independently verified third-party links or sources, nor makes representations about the enduring accuracy of such information.