5 THINGS ENTREPRENEURS SAY DECODED

I'm going to break this shit down
  1. EBITDA
    Earnings before interest taxes depreciation and amortization = just a different way to calculate profit.
  2. Convertible Note
    Umm, 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.
  3. Vesting Schedule
    The 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.
  4. Run Rate vs Burn Rate
    How you are currently trending sales wise vs expense wise per month.
  5. MVP
    Stephen 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.