SummaryIn this conversation, Jason Kirby, co-founder and CEO of Thunder VC, shares his extensive experience in entrepreneurship and fundraising. He discusses the challenges and realities of startup life, the importance of building relationships with investors, and when founders should consider raising capital. Jason emphasizes the need for founders to reflect on their business goals and the potential impact of venture capital on their companies. This conversation delves into the intricacies of venture capital, focusing on the challenges faced by founders in securing funding, the importance of building relationships with investors, and understanding market dynamics. The discussion emphasizes the need for founders to be well-prepared, articulate their business's defensibility, and navigate the complexities of investment terms to ensure successful fundraising.TakeawaysJason Kirby is a serial entrepreneur with a successful track record.Fundraising is a full-time job that requires strategic effort.Founders should focus on building relationships with the right investors.Not all businesses need venture capital; profitability is key.Understanding the venture capital landscape is crucial for founders.Hiring the right team members can make or break a startup.The journey of entrepreneurship is filled with ups and downs.Founders should reflect on their end goals before seeking funding.Building a profitable business can be a viable alternative to raising capital.Family offices can be a good source of funding for startups. Venture capital is best suited for venture-backable companies.Angel investors often lack a structured investment thesis.Family offices vary greatly in their investment strategies.Founders should not fear idea theft if they have a defensible business.Raising capital is challenging for first-time founders without a solid business idea.Building relationships with VCs before needing money is beneficial.Market dynamics can significantly impact fundraising success.Founders should aim for 18-24 months of runway when raising capital.Understanding investment terms is crucial for founders.Having a good lawyer can protect founders during negotiations.Chapters00:00 Introduction to Jason Kirby and Thunder VC02:55 Jason's Entrepreneurial Journey05:57 The Ups and Downs of Startups09:04 The Role of Founders and Team Dynamics11:48 The Launch of Thunder VC15:02 Identifying the Right Investors17:55 When to Raise Capital21:01 The Importance of Relationships in Fundraising31:35 Navigating the World of Venture Capital39:07 Understanding Founder Readiness for Fundraising48:49 Building Relationships with Investors50:52 Market Dynamics and Fundraising Strategies52:49 Evaluating Investment Offers and TermsCredits:Hosted by Michael Smith and Ryan RoghaarProduced by Ryan RoghaarTheme music: "Perfect Day" by OPM The Carton:https://medium.com/the-carton-by-eggsFeature with Zack Chmeis of Straight Method up now! https://medium.com/the-carton-by-eggs/zack-chmeis-35dae817ac28 The Eggs Podcast Spotify playlist:bit.ly/eggstunesThe Plugs:The Show: eggscast.com@eggshow on twitter and instagramOn iTunes: itun.es/i6dX3pCOnStitcher: bit.ly/eggs_on_stitcherAlso available on Google Play Music!Mike "DJ Ontic":Shows and info:djontic.com@djontic on twitterRyan Roghaar:rogha.ar
