Last meeting with Debbie before capstone presentation!
Momento team ran through the presentation for feedback:
- Introduce the next person who’s speaking – just quickly. Like Jen did “Now to April to talk to the market”
- The financial slide copy:
- If you’re raising 1.2 million dollars, in X years we’ll make that money back. Will we triple it in X years time?
- Revenues have to be higher
- Q from Sean: do you go under and underachieve the goal or aim high and risk not achieving?
- Debbie: go over. They’ll give you more money if they think you’re close.
- If you’re only making 400k but asking for a million they’ll feel like they’ll never get their money back
- The 200k should be “contributed” by ourselves (or founders) and friends and family – not raised
- 1.2 million raise is so over the next 5 years you’ll make 3 million dollars or more and have X amount of customers
- The 1.2 should also allow you to advertise to reach more customers and bring in that extra revenue
- “In the next 3-5 years we expect to have earned 3 million dollars”
- “Year 1, we make $400k. Year 2, we get to 1.5 milllion. Year 3, 3 million (in revenue)”
- Just state it – don’t have to put it on the slide
- We think we’ll get X users every 3 months, so by the end of X years, we’ll have X users