Alongside prompting entrepreneurs to think like a VC, Scott presented five key lessons for founders to keep top of mind when raising capital:
1. Think through your capital creation chain especially with respect to angel investors.
2. Beware the strategic lure where differing motives can make it rational for a strategic to “overpay.”
3. Never compromise on structure of the sake of valuation.
4. Do not obsess over dilution because time is much more valuable than the few percentage points you might leave on the table.
5. Your post COVID-19 differentiation strategy.
Andrew proceeded with a strategic framework that has been helpful to their startup during these times. Local Logic is mitigating their risk through knowing where their business stands, taking care of their team and planning in shorter sprints. He highlighted the importance of understanding whether or not you should be raising capital right now and who you should be approaching if so.