Guest: Craig Slayter, Co-founder & First CEO of Odesk (UpWork) and MNA Executive
Take a peek into the complex world of scaling and raising capital for a startup. Rossco Paddison is the founder of Gather Change, who has some questions about raising funds and capital structure for his new startup. Craig Slayter shares his experience and expertise in answer to Paddison’s questions. Slayter has more than 30 years’ experience in Silicon Valley as a startup entrepreneur, and has participated in acquisitions ranging from $5 million to over $100 million.
- Setting up your capital structure incorrectly can cost you and your investors a lot of money.
- There is a strategic plan and order to finding the right investors for your business.
- You need a good attorney who specializes in startups on your side.
- It is not uncommon to meet with 25 venture capitalists in your quest for funding.
- Attracting, vetting, and hiring great talent is key to a successful startup.
- Don’t try to reinvent the wheel. Silicon Valley has a model for funding startups that has been proven to work. Research online and learn as much as you can.
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DISCOVERY OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments!