Ron Conway, Founder of SV Angel, and
Parker Conrad, Founder of Zenefits,
take Q&A on the topic of How to Raise Money, in lecture 9 of How to Start a Startup.
Here's the link: https://www.youtube.com/watch?v=uFX95HahaUs
Focus - Limited resources require limited objectives. Prioritize. Concentrate on the top two. Deny shiny objects to give energy to essentials. Make managing a competitive advantage. Delegate.
Recruit - Share the dream to build a 5-star core team, top down: board of advisors first. Hire slow, fire fast. Reward superior performance. Always be recruiting. Leverage is the startup spinach.
Sell - Cash is the life blood of the business. Sales solve all problems. Sell value to customers or sell equity to investors. Sell the mission to all. Create, maintain, improve and expand your selling systems.
Build - Expand methodically from a balanced business. Create products based on customer feedback. "Do it, Document it, Delegate it." Build a strong body and peaceful mind to endure the journey.
Test - Continuous improvement requires continuous experimentation. Feedback is the raw material to build your business. Everything is a prototype. Do good now, make it better later.