![]() It was when he perfected his strategy by working with landlords and developing their sales pitch that Airbnb started to take off. In his first foray into raising angel capital, Brian Chesky pitched to angels. MY TAKE: Pitch decks help, mainly if you have proof of potential and unicorn skills. This is how entrepreneurs like Sam Bankman-Fried make suckers out of many VCs. Billion-dollar entrepreneurs did it with finance-smart strategies and skills.Įntrepreneurs can leverage the VC FOMO to their advantage by sustainable-finance skills and sources of billion-dollar entrepreneurs to show progress, and encourage each source to hasten their due diligence. This means that entrepreneurs need to know how to build the venture from idea to strategy Aha or leadership Aha. Sophisticated investors want wealth-creation potential, but they also want to reduce risk, i.e., proof of potential. For entrepreneurs, this means understanding the investor’s emotions of greed (returns), fear (risk), and fear-of-missing out (FOMO, which is greed and fear). Pathos: Mastering the emotional appeal.Įmotion is Aristotle’s third step and is pivotal to all decisions. But here’s your edge - learn how to get to Leadership Aha, and control your venture and keep more of the wealth you create. That could be one reason the Top 20 VCs are estimated to earn ~95% of VC profits. By doing so, they invest at higher valuations and get reduced returns. The bottom 98% wait for Leadership Aha to reduce risk. They do this to get an attractive valuation, the right to control the venture, and to replace the entrepreneur with a professional CEO. ![]() They invest after Strategy Aha but before Leadership Aha. Most, like Sam Walton, Dick Schulze, Howard Schultz, Ray Kroc, Jon Oringer, and Joe Martin did not use VC.Īlthough all smart VCs wait for Aha, the Top 20 VCs seem to be smarter than the rest. ![]() Some, like Gates and Zuckerberg, used VC after launching.
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