(GIF via Giphy)
If you’re an entrepreneur wanting to land some venture capital, boy does Philly Startup Leaders have a workshop for you.
What is a term sheet, you ask? Surely Moul and Weber will explain further but it’s basically the document stating the terms and conditions under which an investor forks over cash to a company. Understanding the often-densely-worded piece of paper can be daunting for the unexperienced. And if there’s ever a document you want to thoroughly comprehend, it’s this one.
“For those who raise money, understanding not just the terms but the implications of term sheets on future business decisions and eventual outcomes is CRUCIAL,” Moul wrote in an email. “Because the language can be very technical and legalistic, it’s all too easy to ‘let the lawyers handle it’ but it’s our job to understand and shape what we are committing our company to.”
Moul said those seeking funding must be their own agents in the process.
“It’s not the investor’s job to educate you on what you are committing to,” Moul said. “If you end up in a bad place, you have no one to blame but yourself.”
— PhillyStartupLeaders (@startupleaders) November 7, 2016
According to the organizers, 70 people have already signed up, so if you want a seat, better hurry.
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