Annette Lavoie started out as a medical device entrepreneur and currently provides mentorship to startup companies. After more than ten years in the medical device industry, she sold her first company and has incredible experience on how startup founders can succeed in the scary world of venture capital. Annette talks to John on how to evaluate startup companies, pre-revenue; and how to maintain your position as a founder after being funded.
02:45 - How did Annette get started?
03:40 - Why did she become an entrepreneur?
08:10 - How did Annette convince investors to fund her?
12:20 - What kind of investment strategies should an entrepreneur have before they meet with VCs?
15:35 - Do your homework.
19:45 - The ideal founder has a strong team in the beginning.
20:15 - When your company gets larger, it's easier to overcome some of the team dynamics.
20:55 - Annette talks about pre-revenue valuation.
24:40 - Know your numbers really well or be upfront with not knowing. Never make them up.
28:50 - What should entrepreneurs know before they go into a VC meeting?
29:55 - How can you keep your position as a founder in your company?
32:10 - Annette recommends three books entrepreneurs should read.
The opportunity is more important than the product.Valuation is an art.Be in the right room.Know your exit strategy.
Dead on Arrival by Roger RoysePitch Anything by Oren KlaffHow to Be a Power Connector by Judy RobinettAnnette Lavoie WebsiteAnnette Lavoie Twitter
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