REFERENCE CHANNELS

Entrepreneur Statements to
Venture Capitalists
(What They Say vs. What They Mean)

1. Most of our funding is in place. (We're waiting for our other contacts to "get back to us".)
2. Our CEO has a solid record. (He's done time.)
3. We have a ''first mover'' advantage. (We have 65% market share ... in Bangledesh.)
4. We've got a solid lock on the technology. (We only have to figure out how to get the string off the anti-gravity unit.)
5. We're ''lean and mean''. (I only leased the Porche Boxter, and my brothers are working for shares.)
6. Security is tight. (We're paying protection money on the office space.)
7. We intend to IPO in three years. (The road to hell is paved with good intentions.)
8. We plan to sell out to a major player. (This turkey will never make a dime.)
9. We spared no expense. (Amex is now sending goons.)
10. May I call you next Tuesday? (Our phone has been disconnected for lack of payment.)
11. Our management team is almost in place. (Except for marketing, engineering, CFO ...)
12. Our staff is extremely motivated. (We've given them 140% of the company.)
13. Our company has very low turnover. (We're based out of Fargo, ND.)
14. Our staff is young and motivated. (No one with experience would believe in this business.)
15. It's a fresh new marketing concept! (Have you heard of Amway?)