Secret Academy Episode - Judy RobinettThey often say 'your net worth is your network' or 'it's not what you know but rather who you know', and while these are true statements, how you maintain and leverage your connections is what matters. Judy Robinett is the founder of the best selling book How to Be a Power Connector, where she discusses her 5 + 50 + 100 rule to turning your network into profits. With close connections to entrepreneurs like Mark Cuban, Barbara Corcoran from Shark Tank, producer Mark Burnett of many hit shows, and over 10 billionaires, Judy is often referred to the power connector with the titanium rolodex. As well being a power connector, she advises for several venture capitalist firms and has seen hundreds of (un)successful pitches for seed funding. With all the misconceptions about how to get funding, the process behind it, and the reality of the outcome, we invited Judy to break it down with real examples for any entrepreneur seeking more money but unsure on how to begin.
- What is a 'power connector' and how it can impact your life
- The harsh reality behind NDA's in today's startup culture
- How to know at what point should you start seeking funding for your business
- The key elements investors look at and look for when you pitch your business, not idea
- What the common funding injection is and how investors determine valuation
- How to determine how much money you need and where that money should go towards
- The differences between a good investor and bad investor, and specific things to look for
- Myths of ownership and company control after funding debunked
- What the 5+50+100 Rule is and how to leverage your network for profits
- The difference between angel investors and venture capitalists
- Three sample questions you might be asked if asking for more money
- Where to find funding and how its actually easier than you might think
