⏳ I need your input (one-minute) + 📜 I'll keep my equity, thank you (revenue-based financing)
Your 3-minute summary of climate tech, startups, better habits, and deep work.
Good morning, folks.
In today’s 3-minute read, we’ll cover the following:
I need your input – 47% discount?
I'll keep my equity, thank you (revenue-based financing).
This CEO said “no” to investors who had no women leaders.
DiSC: A self-assessment used by 1 million people per year.
Forget FOMO. Get JOMO.
Enjoy.
Chris
⏳ I need your input – 47% discount?
OK, here’s the deal…
I *might* create an online, cohort-based Climate Tech Startups course.
It would be for just a small group of entrepreneurs (current, future).
But I’ll only build it if 50+ people respond to this survey. 😬
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The topic?
Startups + climate tech, cleantech, and impact investing
How to launch? Scale? Fund?
How long?
2 to 4 weeks
What's the cost?
$X00?
If you fill out this survey, you could get 47% off the future retail price 😇
Why me as the teacher?
More here - https://www.entrepreneursforimpact.com/about-us
Oh, and I’m also super humble 😂
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Can you answer my 2 questions here? 🤛🙏
📜 I'll keep my equity, thank you. *
If you are not excited about giving investors ownership in your company…
And you are not thrilled about paying interest or providing collateral for debt…
Then maybe this is your better option:
Revenue-Based Financing (aka, Revenue-Based Investing, RBI)
How does it work?
Investors get paid back via a share of your revenue.
It is often driven by IRR (internal rate of return).
The sectors using RBI the most = software (given its recurring revenues).
According to Bootstrapp, there are now at least 32 RBI investment firms, 57 distinct funds, and 134 companies that have secured revenue-based investing. (More from TechCrunch)
Want to dig deeper?
Thanks to Bigfoot Capital for sharing these amazing (!) resources:
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* Fun fact: As I wrote this headline, I searched for an emoji for “booty” — as in pirate treasure — and this image of a peach instead appeared. 🍑 Good times.
👩🏾🤝👩🏼 This CEO said “no” to investors who had no women leaders.
When you’re raising a $21M Series A, you say “yes” to investors who want to invest.
Right?
Not always.
Here’s an example…
Michelle Egger — the Co-Founder and CEO of BIOMILQ*, and one of our rockin’ climate CEO Mastermind peer group members — told investors they could only invest in her recent round if they have:
At least 1 female leader at a partner level in the firm
A portfolio of at least 10% quantifiably diverse or disadvantaged founders
A firm mandate around health, nutrition, or sustainability that they demonstrably work towards annually
Rock on.
Read more from Michelle in this blog post:
2 Years of ‘Learning in Public’ & Prioritizing Our Values
You’ll find great nuggets like this one:
How do we focus on the fewest most important things as an organization to create the impact our world sorely needs?
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*As Forbes put it: “Got Milk! BIOMILQ is the first company to create human breast milk in a lab."
📏 DiSC: A self-assessment used by 1 million people per year.
What does it do?
[This the best-selling personality assessment] can help you and your teams:
Improve self-awareness
Understand other people and adapt to their behavior
Learn how to work together more productively
Transform conflict into collaboration
Develop stronger sales skills
Become more effective managers
Get more enjoyment out of every relationship
How do scores work?
D stands for Dominance
i stands for Influence
S stands for Steadiness
C stands for Conscientiousness
Why do I think it’s worth considering?
Because this test comes up frequently among my climate CEO peer group members at Entrepreneurs for Impact.
Here’s the full test — Everything DiSC®
Here’s a skinny version to whet the appetite — 123 Test
🎉 Forget FOMO. Get some JOMO.
First, let’s get our definitions straight.
FOMO = Fear of Missing Out
JOMO = Joy Of Missing Out
Second, I’m talking to myself right now as much as I’m writing for you the reader.
Last week, I was reflecting with a friend on the following:
Should I launch a seed-stage climate tech VC fund?
Should I find ways to make more of a dent in climate change?
Should I start another climate tech company?
In between the lines, I was saying:
Am I missing out on something?
Am I doing enough?
Thankfully, this friend is also a wise woman, serial entrepreneur, and team coach trained in Entrepreneurial Operating System (EOS®) and the Pinnacle Business Guides.
High fives to you, Maria Kingery (bio here).
As such, she (metaphorically) slapped me upside the head and said:
Dude, you need JOMO!
Indeed.
I’m revisiting my “not-to-do list” with renewed enthusiasm.
She also likes to say…
Don’t “should” on yourself. *
Agreed. And guilty.
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* If you say that really quickly, and it sounds like something else — well, that’s intentional, of course.
That’s all, y’all.
Make it a great week, because it’s usually a choice.
— Chris
P.S. Be more ignorant to be more insightful.
For things to reveal themselves to us, we need to be ready to abandon our views about them.” — Zen Master Thich Nhat Hanh
P.S.S. Don’t forget to take my 2-question survey. 🥺
Would you (or a friend) like to take a short climate tech startup course with me?
—
Dr. Chris Wedding
Founder and Chief Catalyst, Entrepreneurs for Impact
The Only Private Executive Mastermind Community for CEOs, Founders, and Investors Fighting Climate Change