When you talk about accomplishments, use of funds, and milestones, investors get an idea of your company's stage, how well the team has executed against plan thus far, and how carefully you have thought through what is needed to achieve your intent. For our purposes, we define the terms as:
Accomplishments: What the company has accomplished to date
Use of funds: How the company plans to use the money being raised
Milestones: Specific measurable accomplishments that investors will use to evaluate the company's future progress
Accomplishment Tips
Accomplishments help potential investors to determine your company's stage and to assess the company's progress to date. They can include:
Consider highlighting your most compelling accomplishments in the first minute to pique your audience's interest
A clear use of funds table indicates to your audience that you have thought through how the company will use the money
Milestones make you get specific and help to measure the tangible progress. For example, if your company needs capital to build a sales force, investors may expect to see by a certain date, the more effective sales force having achieved a certain increase in the number of customers
Darrell Williams, Telecommunications Development Fund (2:12)
Williams talks about the balance between describing your accomplishments, tangible milestones and use of funds.
Appropriate Uses Of Funds
(2:26)
Springboard Director and accountant Cal Hackeman discusses typical uses of venture capital.
Handsignal, Inc., Mid-West 2001 (1:27)
Springboard Enterprises Alumna Margy Ronning weaves HandSignal's accomplishments, use of funds, and milestones together.
