>> BUT WE'VE GOT SEVERE FOR
SAME FOUNDER LOOKING TO GET
YOUR START OF FUNDED IN 2020
THEN PAY. YES GETTING US OUT
LIEBOWITZ FRIDAY REPORTER AT
BUSINESS INSIDER AND BRIAN
HAMILTON FOUNDER OF THE BRIAN
HAMILTON FOUND A NATION AND
SAGEWORKS THANK YOU BOTH FOR
JOINING US HERE TODAY WE'LL
START WITH YOU. YOU WROTE A
LITERAL GUY TO PITCHING AND
GETTING FUNDED HOW IS THE
PROCESS CHANGED IN THE LAST
DECADE.
>> IN THE
LAST DECADE, THERE'S BEEN A LOT
OF HYPE RAISING VENTURE I THINK
IT'S BECOME VERY TRENDY TO SAY
YOUR THE FOUNDER WITH A CAPITAL
F IN A HIGH-GROWTH START UP AND
YOUR UM
YOU KNOW.
>> PITCHING THE SEA I WILL SAY
THOUGH THAT IN THE LAST MAYBE
EVEN
12 THERE HAVE BEEN SOME
QUESTIONS WHETHER YOU SHOULD BE
RAISING IN.
>> MILLIONS BILLIONS,
EVEN IT.
>> UNDER CAPITAL AH AND AH WHAT
THE IMPLICATIONS OF THAT ARE SO
THAT'S A VERY MUCH MORE
RECENT CHANGE.
>> ALL RIGHT BRIAN, LET'S BRING
YOU INTO THIS CONVERSATION,
WHAT DO YOU WISH YOU FIRST KNEW
WHEN YOU WERE OUT PITCHING.
>> DO THAT'S A GOOD START UP I
WAS TERRIBLE
AT IT I ACTUALLY DIDN'T GET
YOUR CAPITAL, I LOVE YOUR ARE
SHOT IT
WAS TERRIFIC, IT COULD BE A
GREAT GUIDE. IT'S REALLY SAW IT
ON A SERIOUS NOTE. I THINK SOME
OF THE POINTS THAT SHOPPING
CENTER ARTICLE
ARE EXCELLENT ON THE SHOW YOU
HAVE A REAL PRODUCT, IT'S GREAT
TO HAVE REVENUE ONE. I THINK
SHE MENTIONS AS WELL I THINK
IS ABSOLUTELY MOST
ENTREPRENEURS GO OUT WE TOO
EARLY THEY HAVE IT PROVEN
ANYTHING THEIR VALUATIONS ARE
SKY-HIGH THEY'RE NOT GOING TO
GET THOSE IN RENO ARE SUPER
IMPORTANT FOR PEOPLE
TO REMEMBER AND OUT OF EVERY
100 COMPANIES THAT GOT TO TRY
TO GET MONEY MAYBE MAYBE ONE
WILL DO SO SO
DON'T MAKE VENTURE CAPITAL
YOU'RE SORT OF END POINT
BECAUSE IT MAY NOT WORK AND IT
MAY NOT BE ATTRACTIVE FOR YOU
KNOW, IT'S ALL CAPTURED IN HER
ART.
>> BRIAN JUST MENTION IS MAKE
SURE YOU HAVE A PRODUCT TO WHAT
EXTENT SHOULD YOUR BUSINESS BUT
WILL BE FLESHED OUT YOU
ACTUALLY HAVE A WORKING PRODUCT
AT WHAT POINT YOU KNOW IT'S THE
RIGHT TIME TO START RAISING
MONEY.
>> I THINK THAT IT'S REALLY
IMPORTANT IF YOU ARE GOING TO
INVESTORS THAT YOU HAVE SOME
SORT OF PROOF OF CONCEPT SO
WHETHER IT'S
AN END BP OR YOU'VE DONE A LOT
MARKET RESEARCH IN WHATEVER
FORM THAT
BECAUSE I THINK YOU WANT TO
SHOW THE THAT.
THERE IS SOME EVIDENCE THAT
THIS IS A
GOOD IDEA.
>> IN TERMS OF HOW MUCH OF A
PRODUCT YOU SHOULD IT'S IT'S
GREAT IF YOU HAVE ONE. BUT I
THINK THAT IT'S ALSO IMPORTANT
AND THIS IS SOMETHING I HEAR
FROM A
LOT OF. FOUNDERS AND INVESTORS
ALIKE THAT YOU STAY OPEN TO
INVESTORS FEEDBACK. YOU TAKE
THE QUESTION SERIOUSLY SO THAT
THEY SAY HEY MAYBE THIS IS NOT
THE BEST IDEA BEST WAY TO LUNCH
OR PRODUCT. YOU TAKE THAT
INTO CONSIDERATION.
>> ALL RIGHT BRIAN, WHAT ARE
SOME OF THE MOST COMMON
QUESTIONS YOU HEAR FROM PEOPLE
WHO ARE LOOKING TO START A
BUSINESS.
>> I WANT TO TRY TO TIE THIS
IS SORT OF THE CAPITAL IN WANT
TO GO BACK TO ONE THING A SHOT
THE TO KEEP IN I THINK THE
QUESTION IS REALLY GOOD ABOUT
WHEN
YOU GO WOW ARE YOU WHAT YOU DO
BUT GET MONEY IF YOU DON'T HAVE
ANY MONEY YOU'RE GOING TO HAVE
TO DO TO SINK HOPE
BOOTSTRAPPING AND THAT'S NOT
MENTIONED A LOT PEOPLE
AUTOMATICALLY ASSUME THAT HE
GOT A POP REPORTING AND A GREAT
IDEA THAT YOU CAN GO GET
A LITTLE WE BOOTSTRAPPED IT'S A
TRICK ON REALLY WHY WE DID IT
IN AND OUT THE RESULT WE WERE
ABLE TO OWN A LOT
OF OUR COMPANY WHICH YOU
KNOW WHICH IS NOT ALWAYS EASY
TO DO ON A GENERALLY TO
QUESTIONS ABOUT STARTING A
COMPANY I THIS IS SO GENERIC
ITS BUMPER STICKERS STUCK BY
POLITICS BUT I LIKE TO START A
COMPANY AND I'M REALLY
INTERESTED IN THE PRODUCT I
REALLY LIKE THE CAR. I WANT TO
SERVE THEM, IT'S SOMETHING THAT
I LOVE TO DO I MEAN I'D LIKE TO
GET PAID EVERY WANTS TO GET
PAID I
WOULD NEVER BELIEVE SOMEBODY
WHO SAID THEY WILL START A
COMPANY AND YOU WANT TO MAKE A
PROPER EXCEL WE ALL WANT TO DO
THAT, BUT YOU REALLY GOT A LOT
OF WHAT YOU'RE DOING AND I NEED
I KNOW IT SOUNDS SO BASIC, BUT
IT'S STILL TRUE.
>> THAT IS SOMETHING THAT WE
HEAR FROM MUCH COURAGE TO COME
ON THIS SHOW, ESPECIALLY FEMALE
FOUNDERS WERE CLEANING PRODUCTS
FOR WOMEN, THEY'RE PITCHING TO
MAIL FECES WHAT KIND OF
PREPARATION CAN YOU DO WHEN
YOU'RE ASKING FOR FUNDS FROM
SOMEONE WHO IS MAYBE NOT THE
TARGET DEMO OF THE PRODUCT
YOU'RE ACTUALLY TRYING TO SELL.
>> THAT'S THAT'S SOMETHING THAT
I THINK A LOT
FOUNDERS ARE ENCOUNTERING
NOWADAYS WHETHER IT'S BECAUSE
THE BBC IS NOT THE GENDER.
THEIR TARGET MARKET OR WHATEVER
THE CASE MAY BE I THINK THAT.
STARTING WITH THE GENDER BASED
A LOT OF WOMEN FOUNDERS HAVE
TOLD ME
THAT THEY HEAR FROM THE SEASON,
NO THIS
IS NOT BUSINESS WITH
APPROPRIATE FOR VENTURE, IT'S
ACTUALLY A LIFESTYLE BUSINESS
AND THEY'RE JUST ASSUMING THAT
BECAUSE OTHER IDENTIFIES A
WOMAN OF AND SO IF YOU CAN SORT
OF UNFORTUNATELY UP TO PREPARE
FOR THAT QUESTION FOR PERRY
RESPONSE THAT'S A GOOD IDEA,
BUT OTHERWISE I THINK THAT.
REMIND ABC'S ONE YOUR TARGET
MARKET IS AND MAYBE EVEN
EXPLICITLY CALL. MIGHT NOT BE
THAT ISN'T.
>> YEAH AND BRIGHT WE HAVE TIME
FOR ONE MORE QUESTION BRIAN,
WHAT SHOULD PEOPLE BE DOING
AFTER THE PITCH MEETING IS
OVER.
>> WELL YOU CAN
FOLLOW APPROPRIATELY SENT A
VERY NICE, YOU KNOW SOMETHING
LIKE THAT, BUT I I WITH REGARD
TO THIS THAT IT'S DIRECTLY.
ON SHOT OF
POINT PREVIOUSLY AMOUNT TO BLOW
UP THE SHOW HIM TO SAY
SOMETHING SECTIONS THAT ARE
DOESN'T ADVANCE BUT WOMEN DO
HAVE AN ADVANTAGE OVER MEN,
SOMETIMES THEY ACTUALLY LISTEN
SO
I THINK HER POINT WAS REALLY
WELL TAKEN EARLIER ON WHEN
YOU'RE PITCHING AND BY THE WAY
IT'S NOT JUST FOR
♪
VENTURE CAPITALS.
ANGELS AS WELL
FOR ANYBODY. I HAVE FOUND
GENERALLY MY EXPERIENCE AND I
KNOW THIS BECAUSE.
A LOT OF THE MOST OTHERS I RUN
INTO ARE GOOD LISTENERS ARE
INTEGRATING
THE DATA THERE THEY CAN FOLLOW
UP WITH AN APPROPRIATE YOU KNOW
HAVE HEARD WHAT YOU SAID.
I DON'T WANT TO INVEST IN IT
OFF OR DOESN'T LISTEN. WE ALL
POSITION ON SO THAT
THESE GREAT. INNOVATIVE PEOPLE
SMART GREAT PRODUCTS, BUT I
WANT TO INVEST IN A COMPANY I
WANT TO INVEST IN A FOUNDER
FINO MALE DOESN'T MEAN UNDER
THAT IS ACTUALLY INTEGRATING MY
DATA INTEGRATING MY EXPERIENCE
SO THAT I KNOW THEY'RE
COACHABLE BECAUSE IF THEY'RE
NOT COACHABLE SPECIALLY THE
GREEN AND THIS IS THEIR FIRST
TIME AROUND ARE GOING
TO SELL.
>> THE GOOD LISTENERS. ALWAYS
GOOD ADVICE YOU HEAR T