John Steele

If you have customers who like your product, it's going to keep going and going and you need us.

I tell them, think of us like electricity.

You're going to put it in your budget and keep paying.

So SaaS web ops, I've seen them out in three months.

Oftentimes you can have an MVP to that first dollar in three months, 90 days.

That's typically in the range of 50,000.

And then half of that can go on equity, half cash, so 25K cash.

So instead of, there are other companies that do something similar and they have this standard, we'll take a 7% warrant or something like that.

I don't think that's fair because you don't actually know how much we need to do for you.

So what we do is we accumulate an equity balance.

So when your invoice comes, you choose, okay, I'll pay 50%.

We store that balance up and we put it onto something like a safe or an equity kiss.

So basically when it comes time to do a financing round, we would participate like your other angel or seed investors would.

So we don't put a cap.

We believe we'll take a smaller piece of a larger pie.

We don't want to.

And caps usually turn into limits for future rounds.

We don't want to get into that game.

We'll let people grow their company as large as they can.

So we don't do an interest rate, but we do ask for the 20% discount, which is pretty standard.