Nathan Wenzel, Founder and CEO of SimpleLegal, discusses how strong operating fundamentals gave the company leverage during Series A negotiations.
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“Had we chosen not to raise money, we would have been profitable by the beginning of the third quarter.”
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More from Nathan Wenzel
Insight
"Move Fast and Break Things" Fails for SOX-Compliant SaaS Startups
“The idea of move fast and break things really doesn't work if you need to be SOX compliant, and if you're asking your customers to trust you with their financials.”
Nathan WenzelJul 28, 2017▶ 6:1120VC: Construct Your Fundraising Process To Get 3 Term Sheets in 36 Hours, Why Slow and Steady Can Be Best For Startups & Why All Startups Must Know Their Zero Cash Day with Nathan Wenzel, Founder & CEO @ SimpleLegal
Disclosure
SimpleLegal Waited Two Years Before Hiring Its First Employee
“We spent 18 months to get it right, but once we saw that it was working, we took another six months before we hired our first employee”
Nathan WenzelJul 28, 2017▶ 5:4620VC: Construct Your Fundraising Process To Get 3 Term Sheets in 36 Hours, Why Slow and Steady Can Be Best For Startups & Why All Startups Must Know Their Zero Cash Day with Nathan Wenzel, Founder & CEO @ SimpleLegal
Opinion
Relying on Continuous VC Funding Availability Is Dangerous for Startups
“VC money is just always around the corner, and if you need more money, you just go and ask for it. It's a dangerous assumption to make, and we've already seen companies that have raised tens of millions of dollars just disappear overnight because they thought …”
Nathan WenzelJul 28, 2017▶ 10:1320VC: Construct Your Fundraising Process To Get 3 Term Sheets in 36 Hours, Why Slow and Steady Can Be Best For Startups & Why All Startups Must Know Their Zero Cash Day with Nathan Wenzel, Founder & CEO @ SimpleLegal
AssertionSupported
Y Combinator Is Not Just for 22-Year-Olds, Says 35-Year-Old Alum
“We went through, I was 35 at the time, and I was not the oldest. So I think the idea that YC is really just for twenty-two-year-olds is, is kind of a myth.”
Nathan WenzelJul 28, 2017▶ 18:3320VC: Construct Your Fundraising Process To Get 3 Term Sheets in 36 Hours, Why Slow and Steady Can Be Best For Startups & Why All Startups Must Know Their Zero Cash Day with Nathan Wenzel, Founder & CEO @ SimpleLegal
Disclosure
SimpleLegal Maintained Near-Zero Gross Churn During Early Growth
“Our gross churn was near zero.”
Nathan WenzelJul 28, 2017▶ 8:2020VC: Construct Your Fundraising Process To Get 3 Term Sheets in 36 Hours, Why Slow and Steady Can Be Best For Startups & Why All Startups Must Know Their Zero Cash Day with Nathan Wenzel, Founder & CEO @ SimpleLegal
Disclosure
SimpleLegal Maintained Near-Zero Company Net Burn for Its First 18 Months
“For us, we were net zero burn for the first year and a half. Our personal burn rates were not net zero, but our company net burn was near zero.”
Nathan WenzelJul 28, 2017▶ 10:4020VC: Construct Your Fundraising Process To Get 3 Term Sheets in 36 Hours, Why Slow and Steady Can Be Best For Startups & Why All Startups Must Know Their Zero Cash Day with Nathan Wenzel, Founder & CEO @ SimpleLegal
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