WEBVTT
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One note of caution.
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It's incredibly important.
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You do not overstate the commitments in your round.
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If you state that you have a million committed, there better be a million dollars worth of capital in that pool, ready to party.
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This is not the place for fake it till you make it.
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There's no faster way to kill your pool party than to lie.
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When you misrepresent relationships or commitments and an investor uncovers that, you've ruined that relationship.
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They've left the party and not only are they not coming back, but any time, your name and your company comes up, they're warning others.
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Don't overplay your hand here.
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If you really want to test somebody's commitment, ask them to use their name.
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If they're hesitant on that, then they're not committed.
00:00:47.463 --> 00:00:54.481
You will do better by showing that your funding round is coming together check by check, person by person, than overstating this too quickly.
00:00:01.006 --> 00:00:02.087
One note of caution.
00:00:02.657 --> 00:00:04.187
It's incredibly important.
00:00:04.216 --> 00:00:07.397
You do not overstate the commitments in your round.
00:00:08.117 --> 00:00:14.237
If you state that you have a million committed, there better be a million dollars worth of capital in that pool, ready to party.
00:00:15.016 --> 00:00:17.567
This is not the place for fake it till you make it.
00:00:17.836 --> 00:00:21.016
There's no faster way to kill your pool party than to lie.
00:00:22.336 --> 00:00:28.277
When you misrepresent relationships or commitments and an investor uncovers that, you've ruined that relationship.
00:00:28.516 --> 00:00:35.476
They've left the party and not only are they not coming back, but any time, your name and your company comes up, they're warning others.
00:00:36.826 --> 00:00:38.447
Don't overplay your hand here.
00:00:39.447 --> 00:00:43.256
If you really want to test somebody's commitment, ask them to use their name.
00:00:43.887 --> 00:00:46.643
If they're hesitant on that, then they're not committed.
00:00:47.463 --> 00:00:54.481
You will do better by showing that your funding round is coming together check by check, person by person, than overstating this too quickly.
