Praise for THE STARTUP CHECKLIST
"Finally! The indispensable instruction book that takes you from your Big Idea to a Big Exit. In his inimitable wise and witty style, David takes founders through the nuts and bolts of how to start a company that can successfully make it all the way to the finish line. I′m giving copies to all of my entrepreneurs!"
Barbara Corcoran, Business Expert and Star of ABC′s Shark Tank
"I work with hundreds of first–time entrepreneurs and The Startup Checklist is the clearest, most useful resource I have seen for someone considering starting a scalable, high–growth business.Experience may be the best teacher, but right behind her is David S. Rose."
Andrew Yang, Founder and CEO of Venture for America and author of Smart People Should Build Things
"This book is an absolute must for anybody looking to start a high–growth startup and get funding. David is an institution among high–tech angel investors, who brings his experience on both sides of it (as startup founder and angel investor) to play in this practical, realistic book."
Tim Berry, Author of Business Plan Pro
"Everyone knows that a great business starts with a great idea. But the journey from a great idea to a flourishing, profitable business is a lot longer and thornier than most people realize. I can′t imagine a more experienced, savvier, street–smart guide along the way than David S. Rose′s The Startup Checklist."
Howard L. Morgan, Co–founder, First Round Capital
"The Startup Checklist should be required reading for every entrepreneur. It walks you step by step through the entire process of building a seriously big company, and will save you from making all–too–common mistakes that can easily kill an otherwise promising venture."
JJ Ramberg, Host of MSNBC′s Your Business
"David S. Rose has seen it all, over many years and across thousands of companies, and then, to the great benefit of the rest of us, has distilled the essence of what it takes to succeed. I can′t say strongly enough how much I feel that following the checklist David has created will help you make your company more successful."
Bill Gross, Founder and CEO of Idealab
Foreword Bill Gross xi
Preface Why Every Entrepreneur Needs This Book . . . Instead of the Other 93,210 Books on Entrepreneurship xiii
Introduction 25 Key Action Steps (Plus One) for Every Entrepreneur 1
Part I Prepare to Launch 15
1. Translate Your Idea into a Compelling Business Model 17
2. Craft a Lean Business Plan to Serve as Your Venture s Road Map 25
3. Find and Know Your Competitors 35
4. Build Your Dream Team 45
5. Allocate the Equity in Your Startup 55
6. Build a Minimum Viable Product and Validate Your Plan with Customers 63
7. Establish Your Brand with Online Public Profiles 69
8. Network Effectively within the Entrepreneurial Ecosystem 77
Part II Launch and Build Your Company 85
9. Incorporate Your Company for Protection and Investment 87
10. Lawyer Up the Right Way 95
11. Recruit Your Boards of Directors and Advisors 105
12. Select an Accountant and an Accounting System 113
13. Establish and Manage Your Credit Profile 123
14. Open Bank, Credit Card, and Merchant Accounts 131
15. Choosing Your Key Technologies, Platforms, and Vendors 139
16. Measure Your Business with Data Analytics 149
17. Round out Your Team with Employees and Freelancers 163
18. Establish a Stock Option Plan to Incentivize Your Team 175
Part III Raise Funds; Collaborate with Investors; Plan for Your Exit 183
19. Understand the Funding Process and What Investors Want to See 185
20. Nurture Your Investor Pipeline 197
21. Crowdfunding and Online Platforms 207
22. Survive the Term Sheet Negotiation and Investor Due Diligence 215
23. Get the Most from Your Investors, Now and in the Future 225
24. Understand Your Company s Valuation 233
25. Keep Your Eye on the Exit and Reap the Benefits of Success 243
The Startup Checklist Online: Gust.com/Checklist 251
Appendix A The Startup Reading List 253
Appendix B Sample Due Diligence Request 257
Appendix C Starting a U.S. Corporation from a Foreign Country 265
Appendix D Sample Convertible Preferred Stock Term Sheet 269
Appendix E Sample Convertible Note Term Sheet 285
Appendix F Sample Founder Accord 291
DAVID S. ROSE is the New York Times bestselling author of Angel Investing; founder and CEO of Gust; and founder of New York Angels. He is an Inc. 500 CEO, serial entrepreneur, and early stage investor who has founded or funded over 100 companies. Named a "world conquering entrepreneur" by BusinessWeek, and "New York′s Archangel" by Forbes, he was the Founding Track Chair for Finance and Entrepreneurship at Singularity University. David can be found online at davidsrose.com.