28-12-2021
The Startup Gambit Podcast - Ep.8 - George Khalife
This week’s guest on the Startup Gambit Podcast is George Khalife. George is a sales & marketing professional with a background in finance and the DNA of an entrepreneur. At 26 George became the youngest Vice President at the Toronto Stock Exchange; he opened up the Chicago office covering the Midwest, with the goal of helping U.S. companies go public in Canada. Previously George led the marketing & business development fintech owl.co and before that led business development for Sampford Advisors, Canada's #1 mid-market M&A firm. Currently, George hosts a top 200 entrepreneurial podcast called Let's Grab Coffee where he interviews successful leaders across different industries and has featured individuals like the Cofounders of Netflix & Starbucks to the Music Video Producer of Drake. Catch up with George at the links below:linkedin.com/in/georgekhalifegeorgekhalife.com@khalifestyle Let's Grab CoffeeWe talked with George about:Key actions a startup must take to prepare to raise capitalStages of fundingWhat sorts of questions should start up founders be asking when meeting with VC?What are the benefits of taking a company public and what are some strategies?Questions to think about when raising capital:Are you in the right sector?Are you targeting the right people? Know your operational numbers.What's the right amount to ask for?Consult someone with a Pitch book licence, get their advice on your raise?The realities after the raise are really important too:What’s your action plan after the raise?How do you spend that money?Is your startup flywheel designed?The stages of raising capital?Pre Seed / Bootstrapping /“Blood equity” /“Sweat equity”You’ve provided all the capital yourself, it comes from friends, family members, credit cards-whatever you can get. This could be as small as $5,000 and as high as $100,000. You’re creating your minimum viable product (MVP)Seed ranges from $100,000 to $500,000 and is often provided by angel investors, and is usually structured as convertible notes or common stock. You’re refining your product and the bet here focuses pretty heavily on the team. Series A - 2M to ~5M -The amounts will vary depending on the jurisdiction. This is the first round of institutional funding for a venture. The aim is to fund a year or two of operation and support growth. Late Stage Funding (B, C, D) - Each round may raise between $5 million and $20 million or more. Series C and D rounds typically come from VC firms and/or strategic/corporate investors. Questions a founder should ask her VCAre they comfortable with leading the funding round?Do they want board seats?Is there follow-on investing?The TSX Venture Exchange is mostly small-cap Canadian stocks with over 1,600 companies listed.Listing provides some cool advantages, shares can be leveraged for mergers & acquisitionsU.S. investors might be able to buy stocks in the TSXV directly through their broker or on U.S. exchanges as American Depository Receipts.Term you may not know:“Data room” your cloud based platform where you store company info.A cool thing George said: “Haste and Hustle brought the sexiness of entrepreneurship to Canada” - George KhalifGeorges favourite quote:“Don’t let other people’s opinion of you become your reality” - Les Brown