5 THINGS ENTREPRENEURS SAY DECODED
I'm going to break this shit down
- •EBITDAEarnings before interest taxes depreciation and amortization = just a different way to calculate profit.
- •Convertible NoteUmm, like a bridge loan. A note (debt) that can convert to equity typically over a short period of time (like 12-18 months) that bridges the gap of your next financing round. Meaning, you better hustle & create value in that time frame so you can raise money at a higher valuation and keep growing that biz.
- •Vesting ScheduleThe time it takes for you to earn equity in the company. For founders, it's typically 4 years with 1 year cliff, meaning will start to vest after 1 year pro-rata.
- •Run Rate vs Burn RateHow you are currently trending sales wise vs expense wise per month.
- •MVPStephen Curry! Actually, it's Minimum Viable Product, which is using the least amount of time and resources to create your "product" so you can get it out there in the world for feedback and revision.