Funding for Early Stage SaaS Companies: TinySeed Application Info Session.

and we are live welcome to the tiny seat and we are live welcome to the tiny seat application info section i had forgotten application info section i had forgotten application info section i had forgotten that we had that groovy theme song that that we had that groovy theme song that that we had that groovy theme song that was nice it was grooving out to that was nice it was grooving out to that was nice it was grooving out to that thanks for joining us today um i am rob thanks for joining us today um i am rob thanks for joining us today um i am rob walling and we're going to be talking walling and we're going to be talking walling and we're going to be talking about tiny seed applications are open about tiny seed applications are open about tiny seed applications are open for our america's batch for our america's batch for our america's batch of spring 2022 this is our fifth batch of spring 2022 this is our fifth batch of spring 2022 this is our fifth batch we're doing in america's and for our we're doing in america's and for our we're doing in america's and for our first ever batch in emea europe middle first ever batch in emea europe middle first ever batch in emea europe middle east and asia so i am your host rob east and asia so i am your host rob east and asia so i am your host rob walling and to my left is mr alex walling and to my left is mr alex walling and to my left is mr alex mcquaid he is the program manager for mcquaid he is the program manager for mcquaid he is the program manager for our tiny seed europe fund and our tiny seed europe fund and our tiny seed europe fund and accelerator and to my upper right now is accelerator and to my upper right now is accelerator and to my upper right now is tracy osborne who many of you have heard tracy osborne who many of you have heard tracy osborne who many of you have heard from before and are familiar with uh you from before and are familiar with uh you from before and are familiar with uh you see me dance yeah senior dance you've see me dance yeah senior dance you've see me dance yeah senior dance you've seen her on the podcast you saw her in seen her on the podcast you saw her in seen her on the podcast you saw her in the last application info section the last application info section the last application info section session and uh she is the program session and uh she is the program session and uh she is the program director for tiny seed americas welcome director for tiny seed americas welcome director for tiny seed americas welcome youtube youtube youtube thank you yeah thank you yeah thank you yeah i'm so excited for this it's really it's i'm so excited for this it's really it's i'm so excited for this it's really it's it's fun having another uh another face it's fun having another uh another face it's fun having another uh another face here so welcome to alex for i know it's here so welcome to alex for i know it's here so welcome to alex for i know it's my first time live too it's exciting my first time live too it's exciting my first time live too it's exciting this is a trial by fire for alex he this is a trial by fire for alex he this is a trial by fire for alex he started about six with seven weeks ago started about six with seven weeks ago started about six with seven weeks ago uh with tiny seed and so it's great to uh with tiny seed and so it's great to uh with tiny seed and so it's great to be like hey suddenly you're gonna be be like hey suddenly you're gonna be be like hey suddenly you're gonna be live streaming for and hundreds of live streaming for and hundreds of live streaming for and hundreds of people go how does it feel yeah people go how does it feel yeah people go how does it feel yeah awesome so today we're going to awesome so today we're going to awesome so today we're going to um um um be going to tracy for a brief overview be going to tracy for a brief overview be going to tracy for a brief overview of tiny seed we won't belabor that too of tiny seed we won't belabor that too of tiny seed we won't belabor that too much we know that most people watching much we know that most people watching much we know that most people watching this have read through the website have this have read through the website have this have read through the website have been following tiny seed for a while uh

been following tiny seed for a while uh been following tiny seed for a while uh then we'll flip over to alex for a then we'll flip over to alex for a then we'll flip over to alex for a minute or two about chinese europe and minute or two about chinese europe and minute or two about chinese europe and um you know how that is uh the same and um you know how that is uh the same and um you know how that is uh the same and different than america's different than america's different than america's probably talk through briefly the probably talk through briefly the probably talk through briefly the investment terms and then we will do investment terms and then we will do investment terms and then we will do live q a and yep questions are already live q a and yep questions are already live q a and yep questions are already rolling in so this is what happened last rolling in so this is what happened last rolling in so this is what happened last time as we we said what if no questions time as we we said what if no questions time as we we said what if no questions come in and we have to end early and come in and we have to end early and come in and we have to end early and then we end with like 20 extra questions then we end with like 20 extra questions then we end with like 20 extra questions so so so um let's let's zip through this this um let's let's zip through this this um let's let's zip through this this intro piece so we can get into the good intro piece so we can get into the good intro piece so we can get into the good stuff uh tracy you want to give the stuff uh tracy you want to give the stuff uh tracy you want to give the tiny seat overview cool yeah like rob tiny seat overview cool yeah like rob tiny seat overview cool yeah like rob said our website pretty proud of our said our website pretty proud of our said our website pretty proud of our website i think there lot most of this website i think there lot most of this website i think there lot most of this information is on there so you haven't information is on there so you haven't information is on there so you haven't seen our website please go check it out seen our website please go check it out seen our website please go check it out we have frequent ask questions we have a we have frequent ask questions we have a we have frequent ask questions we have a huge overview of our program and how it huge overview of our program and how it huge overview of our program and how it works but in a nutshell works but in a nutshell works but in a nutshell tinyc is not just a venture fund we tinyc is not just a venture fund we tinyc is not just a venture fund we don't just invest in founders though the don't just invest in founders though the don't just invest in founders though the money is nice it is a year-long remote money is nice it is a year-long remote money is nice it is a year-long remote accelerator accelerator accelerator designed to help companies with who have designed to help companies with who have designed to help companies with who have revenue generating business scale faster revenue generating business scale faster revenue generating business scale faster with community and mentorship and weekly with community and mentorship and weekly with community and mentorship and weekly calls with experts we have some of the calls with experts we have some of the calls with experts we have some of the best um subject matter and sas best um subject matter and sas best um subject matter and sas entrepreneurs um as mentors on our entrepreneurs um as mentors on our entrepreneurs um as mentors on our program program program so we like rob said we're on our fifth so we like rob said we're on our fifth so we like rob said we're on our fifth batch for what we call now we're calling batch for what we call now we're calling batch for what we call now we're calling tiny seed americas this is our batch tiny seed americas this is our batch tiny seed americas this is our batch that's kind of um everything is kind of that's kind of um everything is kind of that's kind of um everything is kind of centered around the americas time zones centered around the americas time zones centered around the americas time zones which i should say we do accept startups which i should say we do accept startups which i should say we do accept startups that are like in australia we have an that are like in australia we have an that are like in australia we have an australian startup in our next batch australian startup in our next batch australian startup in our next batch just like kind of where those just like kind of where those just like kind of where those calls are scheduled and then we have our

calls are scheduled and then we have our calls are scheduled and then we have our new tiny seed europe program which i new tiny seed europe program which i new tiny seed europe program which i will pass along to pass over to alex to will pass along to pass over to alex to will pass along to pass over to alex to go over that go over that go over that cool so yeah with tiny seed europe in cool so yeah with tiny seed europe in cool so yeah with tiny seed europe in the past we've had a lot of founders in the past we've had a lot of founders in the past we've had a lot of founders in europe that have wanted to take part in europe that have wanted to take part in europe that have wanted to take part in tiny seed uh but it was a bit tiny seed uh but it was a bit tiny seed uh but it was a bit challenging so most like tracy was challenging so most like tracy was challenging so most like tracy was saying tiny seed operated in u.s time saying tiny seed operated in u.s time saying tiny seed operated in u.s time zones uh most of our retreats were in zones uh most of our retreats were in zones uh most of our retreats were in the u.s the u.s the u.s um and that was just uh and you had to um and that was just uh and you had to um and that was just uh and you had to reincorporate into the us which is a big reincorporate into the us which is a big reincorporate into the us which is a big barrier for a lot of companies but with barrier for a lot of companies but with barrier for a lot of companies but with chinese and europe clarify on that you chinese and europe clarify on that you chinese and europe clarify on that you don't have to be a us but how to be don't have to be a us but how to be don't have to be a us but how to be somewhere in north or south america so somewhere in north or south america so somewhere in north or south america so yeah yeah yeah uh but you're in europe you know uh but you're in europe you know uh but you're in europe you know traveling over to the us three times a traveling over to the us three times a traveling over to the us three times a year for retreats was uh a big year for retreats was uh a big year for retreats was uh a big commitment just a lot of challenges and commitment just a lot of challenges and commitment just a lot of challenges and what we're doing with tiny seed europe what we're doing with tiny seed europe what we're doing with tiny seed europe is getting rid of those challenges and is getting rid of those challenges and is getting rid of those challenges and taking the best parts of tiny seed and taking the best parts of tiny seed and taking the best parts of tiny seed and bringing them over to europe so what bringing them over to europe so what bringing them over to europe so what does that look like in terms of things does that look like in terms of things does that look like in terms of things that are new um first off the uh i guess that are new um first off the uh i guess that are new um first off the uh i guess me that would be new so i will be in uh me that would be new so i will be in uh me that would be new so i will be in uh in europe i will be on the ground in europe i will be on the ground in europe i will be on the ground european time zones and i will be the european time zones and i will be the european time zones and i will be the program manager for chinese seed europe program manager for chinese seed europe program manager for chinese seed europe so that means you'll have access to me so that means you'll have access to me so that means you'll have access to me without having to worry about time zone without having to worry about time zone without having to worry about time zone differences i'll be at all the events of differences i'll be at all the events of differences i'll be at all the events of course course course everything that you would expect from a everything that you would expect from a everything that you would expect from a program manager program manager program manager the other big thing i want to note is the other big thing i want to note is the other big thing i want to note is that even though tiny seed europe is the that even though tiny seed europe is the that even though tiny seed europe is the name uh we're actually focused on is name uh we're actually focused on is name uh we're actually focused on is european time zones so that is gmt to european time zones so that is gmt to european time zones so that is gmt to gmt plus three which uh

gmt plus three which uh gmt plus three which uh really encompasses the entire emea really encompasses the entire emea really encompasses the entire emea region which is europe middle east and region which is europe middle east and region which is europe middle east and africa and we've already had two folks africa and we've already had two folks africa and we've already had two folks chime in someone from egypt someone from chime in someone from egypt someone from chime in someone from egypt someone from algeria is in the audience so thank you algeria is in the audience so thank you algeria is in the audience so thank you for coming just super exciting um so i for coming just super exciting um so i for coming just super exciting um so i i'm really trying to push that i i hope i'm really trying to push that i i hope i'm really trying to push that i i hope that you're out there if you're in the that you're out there if you're in the that you're out there if you're in the middle east or middle east or middle east or please know that we are um excited to please know that we are um excited to please know that we are um excited to hopefully see your applications roll in hopefully see your applications roll in hopefully see your applications roll in and um and that this is the program for and um and that this is the program for and um and that this is the program for you you you um um um outside of that the big thing is that outside of that the big thing is that outside of that the big thing is that programming is going to be on european programming is going to be on european programming is going to be on european time zones so no calls at weird time zones so no calls at weird time zones so no calls at weird night hours late night hours like a lot night hours late night hours like a lot night hours late night hours like a lot of times um you will be we will be doing all of um you will be we will be doing all of our calls with our mentors our playbook our calls with our mentors our playbook our calls with our mentors our playbook calls they will be happening during calls they will be happening during calls they will be happening during normal european business hours normal european business hours normal european business hours in our events our events will be in our events our events will be in our events our events will be planned and designed across multiple planned and designed across multiple planned and designed across multiple cities in europe cities in europe cities in europe still determining what a lot of those still determining what a lot of those still determining what a lot of those are but they will be easy to travel to are but they will be easy to travel to are but they will be easy to travel to in a lot of cool exciting locations in a lot of cool exciting locations in a lot of cool exciting locations what's staying the same all of the best what's staying the same all of the best what's staying the same all of the best parts of chinese seed so it is still a parts of chinese seed so it is still a parts of chinese seed so it is still a year-long accelerator program year-long accelerator program year-long accelerator program we still have the same great group of we still have the same great group of we still have the same great group of mentors that you'll have access to which mentors that you'll have access to which mentors that you'll have access to which is really a big part of tiny seed you is really a big part of tiny seed you is really a big part of tiny seed you know i i think know i i think know i i think rob says a lot but oftentimes with rob says a lot but oftentimes with rob says a lot but oftentimes with people that come in and they're like do people that come in and they're like do people that come in and they're like do i you know is tiny seed worth it even if i you know is tiny seed worth it even if i you know is tiny seed worth it even if i don't need the money i just i really i don't need the money i just i really i don't need the money i just i really want mentorship and that is a really

want mentorship and that is a really want mentorship and that is a really strong aspect of our program incredible strong aspect of our program incredible strong aspect of our program incredible mentors and chinese europe will have the mentors and chinese europe will have the mentors and chinese europe will have the same same same access to these mentors that are at the access to these mentors that are at the access to these mentors that are at the core of core of core of our program our program our program investment terms are the same investment terms are the same investment terms are the same and um our our famous tiny seed playbook and um our our famous tiny seed playbook and um our our famous tiny seed playbook that you'll go through uh the first few that you'll go through uh the first few that you'll go through uh the first few months of the program uh months of the program uh months of the program uh is uh is uh is uh is is still at the core of the program is is still at the core of the program is is still at the core of the program so so so yeah those are the main things i want to yeah those are the main things i want to yeah those are the main things i want to highlight it's it's taking the best of highlight it's it's taking the best of highlight it's it's taking the best of tiny seed and making it uh tiny seed and making it uh tiny seed and making it uh easy to access for our our european easy to access for our our european easy to access for our our european founder so i'm really excited to founder so i'm really excited to founder so i'm really excited to to uh to get started there thanks so to uh to get started there thanks so to uh to get started there thanks so much alex that's uh awesome and you'll much alex that's uh awesome and you'll much alex that's uh awesome and you'll be joining me next wednesday on be joining me next wednesday on be joining me next wednesday on microconf on air where we will spend microconf on air where we will spend microconf on air where we will spend about 30 minutes talking about microconf about 30 minutes talking about microconf about 30 minutes talking about microconf europe and taking you know even more europe and taking you know even more europe and taking you know even more questions about the emea questions about the emea questions about the emea batch and the bat you know to answer i batch and the bat you know to answer i batch and the bat you know to answer i heard a question the other day when does heard a question the other day when does heard a question the other day when does the batch start well we're running the the batch start well we're running the the batch start well we're running the batch parallel with our us slash batch parallel with our us slash batch parallel with our us slash america's patch so may 1st america's patch so may 1st america's patch so may 1st um for one year is when both the batches um for one year is when both the batches um for one year is when both the batches will start will start will start i want to pop into one more thing i want to pop into one more thing i want to pop into one more thing because i know one of our questions uh because i know one of our questions uh because i know one of our questions uh while we're talking about regions is while we're talking about regions is while we're talking about regions is people are asking about aipac asia people are asking about aipac asia people are asking about aipac asia pacific um and i think it's i think it's pacific um and i think it's i think it's pacific um and i think it's i think it's pretty obvious to see our roadmap if we pretty obvious to see our roadmap if we pretty obvious to see our roadmap if we we started with um north america based we started with um north america based we started with um north america based or america space program now we're doing or america space program now we're doing or america space program now we're doing europe and stay tuned for you know it's europe and stay tuned for you know it's europe and stay tuned for you know it's definitely on our roadmap to have apac definitely on our roadmap to have apac definitely on our roadmap to have apac it's not here yet but i know that some it's not here yet but i know that some it's not here yet but i know that some people are going to ask that we are people are going to ask that we are people are going to ask that we are definitely working on that definitely working on that definitely working on that indeed indeed and we actually i should

indeed indeed and we actually i should indeed indeed and we actually i should pipe in we actually launched a syndicate pipe in we actually launched a syndicate pipe in we actually launched a syndicate as well which is for folks who are maybe as well which is for folks who are maybe as well which is for folks who are maybe further along you know than would want further along you know than would want further along you know than would want to apply to us an accelerator to apply to us an accelerator to apply to us an accelerator tennessee.com syndicate we're doing a tennessee.com syndicate we're doing a tennessee.com syndicate we're doing a lot on a small team i gotta say no we lot on a small team i gotta say no we lot on a small team i gotta say no we really are definitely a bootstrap i mean really are definitely a bootstrap i mean really are definitely a bootstrap i mean we're a bootstrapped fund right that's a we're a bootstrapped fund right that's a we're a bootstrapped fund right that's a capital efficient um i want to remind capital efficient um i want to remind capital efficient um i want to remind folks to folks to folks to ask questions we are taking live ask questions we are taking live ask questions we are taking live questions you can ask them if wherever questions you can ask them if wherever questions you can ask them if wherever you're watching this if you're watching you're watching this if you're watching you're watching this if you're watching it on youtube if you're watching it on it on youtube if you're watching it on it on youtube if you're watching it on the tinyc website in the embed there's the tinyc website in the embed there's the tinyc website in the embed there's some submit a question button or you can some submit a question button or you can some submit a question button or you can enter it in the youtube chat and they're enter it in the youtube chat and they're enter it in the youtube chat and they're pouring in already we have five pouring in already we have five pouring in already we have five uh questions uh questions uh questions that that that i think we should just dive into like we i think we should just dive into like we i think we should just dive into like we have this line item to go through the have this line item to go through the have this line item to go through the investment terms but they're in the faq investment terms but they're in the faq investment terms but they're in the faq it's pretty simple um so if someone is it's pretty simple um so if someone is it's pretty simple um so if someone is like whatever investment just go to like whatever investment just go to like whatever investment just go to tinyu.com faq and and look there um tinyu.com faq and and look there um tinyu.com faq and and look there um we've done this with thousands of we've done this with thousands of we've done this with thousands of applicants funded 60 companies i think applicants funded 60 companies i think applicants funded 60 companies i think people have probably have a decent idea people have probably have a decent idea people have probably have a decent idea of what our terms are at this point so of what our terms are at this point so of what our terms are at this point so with that i want to give as much time as with that i want to give as much time as with that i want to give as much time as possible to possible to possible to live q a live q a live q a first question what requirements are first question what requirements are first question what requirements are there on the legal entity with the new there on the legal entity with the new there on the legal entity with the new microcomp europe fund microcomp europe fund microcomp europe fund and i will and i will and i will basically we are we don't have a solid basically we are we don't have a solid basically we are we don't have a solid um requirement of like you have to be in um requirement of like you have to be in um requirement of like you have to be in this country we are going to play it by this country we are going to play it by this country we are going to play it by ear for this first batch and see what ear for this first batch and see what ear for this first batch and see what comes in um i think we have a pretty comes in um i think we have a pretty comes in um i think we have a pretty good inkling that we get a lot of good inkling that we get a lot of good inkling that we get a lot of applicants from the uk for example so applicants from the uk for example so applicants from the uk for example so for us to support a uk entity is high on for us to support a uk entity is high on for us to support a uk entity is high on my personal list to rally for because it

my personal list to rally for because it my personal list to rally for because it just makes sense there's a couple other just makes sense there's a couple other just makes sense there's a couple other countries that i think will make a lot countries that i think will make a lot countries that i think will make a lot of sense of sense of sense um i think we're going to take it on a um i think we're going to take it on a um i think we're going to take it on a case-by-case basis in all honesty um i case-by-case basis in all honesty um i case-by-case basis in all honesty um i think we'll wind up like what we found think we'll wind up like what we found think we'll wind up like what we found in the americas is we in the americas is we in the americas is we we do north american entities we do we do north american entities we do we do north american entities we do canadian entities and then we've done a canadian entities and then we've done a canadian entities and then we've done a couple uh well i think we've done one couple uh well i think we've done one couple uh well i think we've done one south american and then we've also i south american and then we've also i south american and then we've also i think us vi or is that right u.s virgin think us vi or is that right u.s virgin think us vi or is that right u.s virgin islands yep done one yeah that's right islands yep done one yeah that's right islands yep done one yeah that's right so that's kind of where we've landed but so that's kind of where we've landed but so that's kind of where we've landed but i mean we're like we're almost three i mean we're like we're almost three i mean we're like we're almost three years into this four batches we've kind years into this four batches we've kind years into this four batches we've kind of hit our stride i think it's going to of hit our stride i think it's going to of hit our stride i think it's going to take a batch or two for us to really take a batch or two for us to really take a batch or two for us to really nail down like oh maybe we only support nail down like oh maybe we only support nail down like oh maybe we only support these particular countries or maybe we these particular countries or maybe we these particular countries or maybe we keep it open forever because we find out keep it open forever because we find out keep it open forever because we find out it's not as egregiously expensive as it it's not as egregiously expensive as it it's not as egregiously expensive as it appears that's a limiting factor here appears that's a limiting factor here appears that's a limiting factor here right it's not it's not our desire it is right it's not it's not our desire it is right it's not it's not our desire it is the amount of legal the amount of legal the amount of legal cost and effort to to fund a company and cost and effort to to fund a company and cost and effort to to fund a company and tax compliance there's all this stuff tax compliance there's all this stuff tax compliance there's all this stuff that comes with us funding a company if that comes with us funding a company if that comes with us funding a company if we try to fund in let's say 20 you know we try to fund in let's say 20 you know we try to fund in let's say 20 you know emea countries it becomes very very emea countries it becomes very very emea countries it becomes very very complex and so that's that's what we're complex and so that's that's what we're complex and so that's that's what we're trying to manage trying to manage trying to manage so yeah so yeah so yeah for founders what you need to know is for founders what you need to know is for founders what you need to know is that um wherever you're incorporated if that um wherever you're incorporated if that um wherever you're incorporated if you're interested in tiny cd or enticing you're interested in tiny cd or enticing you're interested in tiny cd or enticing america is like this goes for both is america is like this goes for both is america is like this goes for both is that that that when when when if we give you an ex you know we tell if we give you an ex you know we tell if we give you an ex you know we tell you we want to fund you you we want to fund you you we want to fund you we will then you know work with you look we will then you know work with you look we will then you know work with you look at where you're incorporated and advise at where you're incorporated and advise at where you're incorporated and advise and help you like we want to fund you at and help you like we want to fund you at and help you like we want to fund you at that point and so there is this period that point and so there is this period that point and so there is this period between that you know uh offer and the between that you know uh offer and the between that you know uh offer and the start of the batch to you know it's a start of the batch to you know it's a start of the batch to you know it's a few months um and it allows us to get

few months um and it allows us to get few months um and it allows us to get everything placed so we can fund you so everything placed so we can fund you so everything placed so we can fund you so for european company for for european company for for european company for folks applying for chinese europe you folks applying for chinese europe you folks applying for chinese europe you know don't worry about changing anything know don't worry about changing anything know don't worry about changing anything don't worry about where you're don't worry about where you're don't worry about where you're incorporated or whether you're in incorporated or whether you're in incorporated or whether you're in corporate or whatnot submit an corporate or whatnot submit an corporate or whatnot submit an application and then if you get to that application and then if you get to that application and then if you get to that part of that process we will work with part of that process we will work with part of that process we will work with you and make things happen um the same you and make things happen um the same you and make things happen um the same thing goes for tiny seed us you know we thing goes for tiny seed us you know we thing goes for tiny seed us you know we want to want to want to have that conversation with you so have that conversation with you so have that conversation with you so there's nothing you need to really worry there's nothing you need to really worry there's nothing you need to really worry about pre-application about pre-application about pre-application yeah and i you know my we often get a yeah and i you know my we often get a yeah and i you know my we often get a lot of questions whether it's directly i lot of questions whether it's directly i lot of questions whether it's directly i think i got a twitter dm and a facebook think i got a twitter dm and a facebook think i got a twitter dm and a facebook message today saying hey i have this app message today saying hey i have this app message today saying hey i have this app that does this and is it this much that does this and is it this much that does this and is it this much should i apply and my answer is like the should i apply and my answer is like the should i apply and my answer is like the application if you know your numbers the application if you know your numbers the application if you know your numbers the application takes 20 minutes so if in application takes 20 minutes so if in application takes 20 minutes so if in doubt apply that's going to be my and i doubt apply that's going to be my and i doubt apply that's going to be my and i bet we'll get some questions today are bet we'll get some questions today are bet we'll get some questions today are like do you fund xyz marketplace with like do you fund xyz marketplace with like do you fund xyz marketplace with blood it's like if you're in doubt and blood it's like if you're in doubt and blood it's like if you're in doubt and you have revenue apply because then we you have revenue apply because then we you have revenue apply because then we can have that conversation and it does can have that conversation and it does can have that conversation and it does it it's not this is not a three-hour it it's not this is not a three-hour it it's not this is not a three-hour process it's not going to kill half your process it's not going to kill half your process it's not going to kill half your day it's going to kill day it's going to kill day it's going to kill 20 minutes maybe 30 if you spend a lot 20 minutes maybe 30 if you spend a lot 20 minutes maybe 30 if you spend a lot of time on it so if in doubt apply yeah of time on it so if in doubt apply yeah of time on it so if in doubt apply yeah and yes no's don't come off just the and yes no's don't come off just the and yes no's don't come off just the application there's a few extra stages application there's a few extra stages application there's a few extra stages where there's like an initial phone where there's like an initial phone where there's like an initial phone screen with myself or alex there's screen with myself or alex there's screen with myself or alex there's further phone like that's i say phone further phone like that's i say phone further phone like that's i say phone screen for like we chat with you um you screen for like we chat with you um you screen for like we chat with you um you know then chats with robin aynar we ask know then chats with robin aynar we ask know then chats with robin aynar we ask questions on your application so questions on your application so questions on your application so whatever goes in the application whatever goes in the application whatever goes in the application it's not you're not going to be it's not you're not going to be it's not you're not going to be um accepted um accepted um accepted just based on that you know if we're just based on that you know if we're just based on that you know if we're interested in you and your uh everything interested in you and your uh everything interested in you and your uh everything looks like you could be a fit your will looks like you could be a fit your will looks like you could be a fit your will have a conversation with you over the have a conversation with you over the have a conversation with you over the phone um so i just want to say it's like phone um so i just want to say it's like phone um so i just want to say it's like you know uh

you know uh you know uh you know the application make sure you know the application make sure you know the application make sure everything's cool as correct as possible everything's cool as correct as possible everything's cool as correct as possible but if there's like questions about you but if there's like questions about you but if there's like questions about you know certain areas or trying to get to know certain areas or trying to get to know certain areas or trying to get to like certain amount of perfection like like certain amount of perfection like like certain amount of perfection like don't worry about it because we will um don't worry about it because we will um don't worry about it because we will um if you're good fit for tennessee we'll if you're good fit for tennessee we'll if you're good fit for tennessee we'll definitely chat with you and we're able definitely chat with you and we're able definitely chat with you and we're able to like dig into those issues over the to like dig into those issues over the to like dig into those issues over the phone or zoom or whatnot yep and i think phone or zoom or whatnot yep and i think phone or zoom or whatnot yep and i think tracy's cat also agrees with that tracy's cat also agrees with that tracy's cat also agrees with that sentiment cat or a dog somehow i didn't sentiment cat or a dog somehow i didn't sentiment cat or a dog somehow i didn't know that i was being picked up he's know that i was being picked up he's know that i was being picked up he's outside my room yeah it happens i'm outside my room yeah it happens i'm outside my room yeah it happens i'm surprised if my kids weren't at school surprised if my kids weren't at school surprised if my kids weren't at school this week they'd be coming in right now this week they'd be coming in right now this week they'd be coming in right now next question when i log into the next question when i log into the next question when i log into the application site so that's if you go to application site so that's if you go to application site so that's if you go to tinyc.comply and you click apply for the tinyc.comply and you click apply for the tinyc.comply and you click apply for the accelerator when i log into the accelerator when i log into the accelerator when i log into the application site will the information application site will the information application site will the information from the last application be from the last application be from the last application be pre-populated so this person has pre-populated so this person has pre-populated so this person has obviously applied to a previous batch so obviously applied to a previous batch so obviously applied to a previous batch so will it be pre-populated or can you set will it be pre-populated or can you set will it be pre-populated or can you set us up us up us up that is a great question it will not be that is a great question it will not be that is a great question it will not be pre-populated but if you send an email pre-populated but if you send an email pre-populated but if you send an email over to hello timeyseed.com i will open over to hello timeyseed.com i will open over to hello timeyseed.com i will open up your previous application for you and up your previous application for you and up your previous application for you and you can resubmit that one so it's it's you can resubmit that one so it's it's you can resubmit that one so it's it's not done automatically i can't open up not done automatically i can't open up not done automatically i can't open up everyone automatically but i'm happy to everyone automatically but i'm happy to everyone automatically but i'm happy to do it on a case case by case basis if do it on a case case by case basis if do it on a case case by case basis if you send it over um that said you send it over um that said you send it over um that said you know you know you know i am also interested in seeing how i am also interested in seeing how i am also interested in seeing how i'll i'll work with you over email on i'll i'll work with you over email on i'll i'll work with you over email on this but one of the reasons why it's not this but one of the reasons why it's not this but one of the reasons why it's not pre-populated is like you know the pre-populated is like you know the pre-populated is like you know the questions about how you get customers questions about how you get customers questions about how you get customers you might have a different answer this you might have a different answer this you might have a different answer this time and it's really useful for us to time and it's really useful for us to time and it's really useful for us to see your previous answers and then um

see your previous answers and then um see your previous answers and then um see how things have evolved since your see how things have evolved since your see how things have evolved since your last application that's actually one of last application that's actually one of last application that's actually one of my my most favorite parts about my my most favorite parts about my my most favorite parts about reviewing applications is seeing the reviewing applications is seeing the reviewing applications is seeing the progress of businesses of people who are progress of businesses of people who are progress of businesses of people who are re-applicants i love reapplicants uh you re-applicants i love reapplicants uh you re-applicants i love reapplicants uh you know there's a ah gosh um one of our know there's a ah gosh um one of our know there's a ah gosh um one of our startups i want to say applied in every startups i want to say applied in every startups i want to say applied in every single batch and they finally get into single batch and they finally get into single batch and they finally get into fall 2022 because cloud forecasts we fall 2022 because cloud forecasts we fall 2022 because cloud forecasts we just could not say no at that point just could not say no at that point just could not say no at that point because we were able to see the progress because we were able to see the progress because we were able to see the progress between their applications um so you between their applications um so you between their applications um so you know it's one of those kind of things know it's one of those kind of things know it's one of those kind of things where like i work with you over email where like i work with you over email where like i work with you over email look at a previous application there's look at a previous application there's look at a previous application there's an instance where i'd love to see you an instance where i'd love to see you an instance where i'd love to see you know maybe you just copy it over to the know maybe you just copy it over to the know maybe you just copy it over to the new application if you're able to see new application if you're able to see new application if you're able to see your previous answers um but your previous answers um but your previous answers um but it's definitely something that i'm happy it's definitely something that i'm happy it's definitely something that i'm happy to chat with you over email yeah we've to chat with you over email yeah we've to chat with you over email yeah we've had a we have had a lot of multi-time had a we have had a lot of multi-time had a we have had a lot of multi-time applicants and we have funded a lot of applicants and we have funded a lot of applicants and we have funded a lot of multi-time applicants folks who've just multi-time applicants folks who've just multi-time applicants folks who've just made a little more progress since last made a little more progress since last made a little more progress since last time definitely if you are not able if time definitely if you are not able if time definitely if you are not able if you didn't get into tennessee in a you didn't get into tennessee in a you didn't get into tennessee in a previous batch and you're still previous batch and you're still previous batch and you're still interested in tiny seed please reapply interested in tiny seed please reapply interested in tiny seed please reapply we have we are we have we are we have we are we miss we miss we miss awesome people every time mainly because awesome people every time mainly because awesome people every time mainly because we have like a limited amount of slots we have like a limited amount of slots we have like a limited amount of slots so you know if you have growth between so you know if you have growth between so you know if you have growth between your previous application and then your previous application and then your previous application and then you're um you're um you're um currently reapplying that's amazing and currently reapplying that's amazing and currently reapplying that's amazing and i feel like that gives that's like a i feel like that gives that's like a i feel like that gives that's like a huge bonus if we're able to see that huge bonus if we're able to see that huge bonus if we're able to see that that growth between applications it's a that growth between applications it's a that growth between applications it's a great signal yeah next question for the great signal yeah next question for the great signal yeah next question for the slide deck is it better to emphasize slide deck is it better to emphasize slide deck is it better to emphasize current traction market potential mix of current traction market potential mix of current traction market potential mix of both or other things so i would say both or other things so i would say both or other things so i would say if you have traction in a working if you have traction in a working if you have traction in a working business don't and you don't have a business don't and you don't have a business don't and you don't have a slide deck don't don't make a slide deck

slide deck don't don't make a slide deck slide deck don't don't make a slide deck we actually yeah it's optional we we actually yeah it's optional we we actually yeah it's optional we literally say slide decks are optional literally say slide decks are optional literally say slide decks are optional if we added a so we didn't have a field if we added a so we didn't have a field if we added a so we didn't have a field for slide deck for the first batch or for slide deck for the first batch or for slide deck for the first batch or two but people were asking like no no i two but people were asking like no no i two but people were asking like no no i have this deck i want to send you so we have this deck i want to send you so we have this deck i want to send you so we said fine we'll take it said fine we'll take it said fine we'll take it i look at like each of us evaluates i look at like each of us evaluates i look at like each of us evaluates differently i'll say but i look at your differently i'll say but i look at your differently i'll say but i look at your business metrics i have probably opened business metrics i have probably opened business metrics i have probably opened literally thousands of applicants i literally thousands of applicants i literally thousands of applicants i think i've opened two or three slide think i've opened two or three slide think i've opened two or three slide decks decks decks it because the slide deck is the least it because the slide deck is the least it because the slide deck is the least important thing you'll often hear me say important thing you'll often hear me say important thing you'll often hear me say build your business instead of your build your business instead of your build your business instead of your slide deck and that because mrr is the slide deck and that because mrr is the slide deck and that because mrr is the best slide deck mrr is the best story to best slide deck mrr is the best story to best slide deck mrr is the best story to tell um i don't want to if you have a tell um i don't want to if you have a tell um i don't want to if you have a slide deck and you are proud of it slide deck and you are proud of it slide deck and you are proud of it submit it because tracy or anar or alex submit it because tracy or anar or alex submit it because tracy or anar or alex may that may be more their thing but may that may be more their thing but may that may be more their thing but that's uh kind of my take on it it's that's uh kind of my take on it it's that's uh kind of my take on it it's definitely it's one of those things definitely it's one of those things definitely it's one of those things where we don't evaluate like that the where we don't evaluate like that the where we don't evaluate like that the first evaluation we don't look at the first evaluation we don't look at the first evaluation we don't look at the slide deck uh or maybe a quick glance slide deck uh or maybe a quick glance slide deck uh or maybe a quick glance but it could potentially but it could potentially but it could potentially you know something we might look at in you know something we might look at in you know something we might look at in later stages of the process when we're later stages of the process when we're later stages of the process when we're like really digging into your company like really digging into your company like really digging into your company but it's never been but it's never been but it's never been something that we need so if you have it something that we need so if you have it something that we need so if you have it feel free to upload it if you don't have feel free to upload it if you don't have feel free to upload it if you don't have it don't worry about it we're on you it don't worry about it we're on you it don't worry about it we're on you know the rest of the questions are the know the rest of the questions are the know the rest of the questions are the ones we actually have in the ones we actually have in the ones we actually have in the applications or the main ones that we're applications or the main ones that we're applications or the main ones that we're looking at um we're like evaluating off looking at um we're like evaluating off looking at um we're like evaluating off of of of a reminder to keep submitting those a reminder to keep submitting those a reminder to keep submitting those questions we have at least 15 more um to questions we have at least 15 more um to questions we have at least 15 more um to go through and they just keep they're go through and they just keep they're go through and they just keep they're being asked faster than we can answer being asked faster than we can answer being asked faster than we can answer which is great which is great which is great next question i'm pre-revenue but have next question i'm pre-revenue but have next question i'm pre-revenue but have validated with some customers paying validated with some customers paying validated with some customers paying deposits with the application will you deposits with the application will you deposits with the application will you expect to see financial projections

expect to see financial projections expect to see financial projections tracy hmm tracy hmm tracy hmm have we ever seen financial projections have we ever seen financial projections have we ever seen financial projections probably in a slide somewhere because probably in a slide somewhere because probably in a slide somewhere because projections are guessing you know projections are guessing you know projections are guessing you know they're unless you really have a they're unless you really have a they're unless you really have a predictable business where you have predictable business where you have predictable business where you have product market fit and you know you're product market fit and you know you're product market fit and you know you're predictably growing x amount every month predictably growing x amount every month predictably growing x amount every month projections are and i i projections are and i i projections are and i i would say this as a founder myself i would say this as a founder myself i would say this as a founder myself i would say i i kind of guess where i'll would say i i kind of guess where i'll would say i i kind of guess where i'll be in a year but it's a guess so no we be in a year but it's a guess so no we be in a year but it's a guess so no we don't expect to see financial don't expect to see financial don't expect to see financial projections um yeah i don't think i've projections um yeah i don't think i've projections um yeah i don't think i've ever even thought about ever even thought about ever even thought about nope and in fact so if you have nope and in fact so if you have nope and in fact so if you have pre-orders or pre-purchases then where pre-orders or pre-purchases then where pre-orders or pre-purchases then where it says mrr you can put um what would it says mrr you can put um what would it says mrr you can put um what would you put you put zero and then there's an you put you put zero and then there's an you put you put zero and then there's an other right there's another field where other right there's another field where other right there's another field where you can then explain like hey so this i you can then explain like hey so this i you can then explain like hey so this i have these purchases have these purchases have these purchases is kind of how i would think about it or is kind of how i would think about it or is kind of how i would think about it or or if you have pre-purchased commitments or if you have pre-purchased commitments or if you have pre-purchased commitments of 500 mrr once you launch then put of 500 mrr once you launch then put of 500 mrr once you launch then put yourself a 500 but then just caveat it yourself a 500 but then just caveat it yourself a 500 but then just caveat it of like these are pre-purchased of like these are pre-purchased of like these are pre-purchased commitments i don't i'm not live yet and commitments i don't i'm not live yet and commitments i don't i'm not live yet and explain it out because we read ev you explain it out because we read ev you explain it out because we read ev you know i would say almost every know i would say almost every know i would say almost every application i think you read every one application i think you read every one application i think you read every one don't you oh yeah yeah all right well don't you oh yeah yeah all right well don't you oh yeah yeah all right well yeah alex and i will definitely go yeah alex and i will definitely go yeah alex and i will definitely go through every single one uh and you know through every single one uh and you know through every single one uh and you know when you click on the application if you when you click on the application if you when you click on the application if you click that you're at zero revenue um click that you're at zero revenue um click that you're at zero revenue um there will be a field that pops in that there will be a field that pops in that there will be a field that pops in that allows you to to expand on any traction allows you to to expand on any traction allows you to to expand on any traction that you have that might not be mrr that you have that might not be mrr that you have that might not be mrr awesome next question we've built a awesome next question we've built a awesome next question we've built a shopify app shopify app shopify app we don't have many users yet and we are we don't have many users yet and we are we don't have many users yet and we are located in bulgaria europe located in bulgaria europe located in bulgaria europe can we apply for tiny seed so alex

can we apply for tiny seed so alex can we apply for tiny seed so alex they're in bulgaria europe can they yes they're in bulgaria europe can they yes they're in bulgaria europe can they yes tiny seed tiny seed tiny seed right oh yeah all right excellent that's right oh yeah all right excellent that's right oh yeah all right excellent that's a pretty straightforward answer a pretty straightforward answer a pretty straightforward answer i agree the and and we have i'm trying i agree the and and we have i'm trying i agree the and and we have i'm trying to think we i don't know that we've to think we i don't know that we've to think we i don't know that we've funded a shopify app we have funded funded a shopify app we have funded funded a shopify app we have funded heroku add-ons we funded wordpress heroku add-ons we funded wordpress heroku add-ons we funded wordpress plug-ins with the potential we've been plug-ins with the potential we've been plug-ins with the potential we've been close to funding yep we have definitely close to funding yep we have definitely close to funding yep we have definitely a few late stage um and it's not purely a few late stage um and it's not purely a few late stage um and it's not purely because our shopify app it's we want to because our shopify app it's we want to because our shopify app it's we want to see the opportunity to then move away see the opportunity to then move away see the opportunity to then move away from the single platform right that from the single platform right that from the single platform right that you're thinking about because platform you're thinking about because platform you're thinking about because platform risk on shopify can be a bit rough if risk on shopify can be a bit rough if risk on shopify can be a bit rough if you don't have many users yet you don't have many users yet you don't have many users yet um um um that's fine that will obviously i mean that's fine that will obviously i mean that's fine that will obviously i mean you know that's that's the traction you know that's that's the traction you know that's that's the traction right you're gonna have to enter your right you're gonna have to enter your right you're gonna have to enter your numbers and then and we look at those so numbers and then and we look at those so numbers and then and we look at those so when in doubt try it out that's my thing when in doubt try it out that's my thing when in doubt try it out that's my thing no when in doubt apply right when in no when in doubt apply right when in no when in doubt apply right when in doubt apply so again if it takes you 20 doubt apply so again if it takes you 20 doubt apply so again if it takes you 20 minutes to do it we'll take a look at minutes to do it we'll take a look at minutes to do it we'll take a look at your application your application your application next question if we have a real sas next question if we have a real sas next question if we have a real sas product with customers but our product with customers but our product with customers but our pre-revenue pre-revenue pre-revenue would we still be a candidate for tiny would we still be a candidate for tiny would we still be a candidate for tiny seed seed seed so my definition of a customer is so my definition of a customer is so my definition of a customer is someone who is paying you money so maybe someone who is paying you money so maybe someone who is paying you money so maybe so that doesn't job custer you can't so that doesn't job custer you can't so that doesn't job custer you can't have customers that be pre-revenue but have customers that be pre-revenue but have customers that be pre-revenue but maybe you have users maybe you have users maybe you have users enter pre-revenue enter pre-revenue enter pre-revenue as a rule we discourage folks who do not as a rule we discourage folks who do not as a rule we discourage folks who do not have at least five hundred dollars in have at least five hundred dollars in have at least five hundred dollars in monthly recurring revenue to apply for monthly recurring revenue to apply for monthly recurring revenue to apply for tiny seed and that's both to save you tiny seed and that's both to save you tiny seed and that's both to save you time and also to save us time i think we time and also to save us time i think we time and also to save us time i think we got close to a thousand applicants in got close to a thousand applicants in got close to a thousand applicants in our first batch and it was because we our first batch and it was because we our first batch and it was because we got a lot of ideas you know here's a got a lot of ideas you know here's a got a lot of ideas you know here's a slide deck and yeah we don't find ideas slide deck and yeah we don't find ideas slide deck and yeah we don't find ideas we fund things that are a little bit we fund things that are a little bit we fund things that are a little bit further along but let me go into the why further along but let me go into the why further along but let me go into the why about that it's because of the program about that it's because of the program about that it's because of the program it's because of the the way that

it's because of the the way that it's because of the the way that the playbook calls that we've set up and the playbook calls that we've set up and the playbook calls that we've set up and the mentors and kind of like when you're the mentors and kind of like when you're the mentors and kind of like when you're pre-revenue the kind of problems you're pre-revenue the kind of problems you're pre-revenue the kind of problems you're working on are different than the ones working on are different than the ones working on are different than the ones where you at least have some amount of where you at least have some amount of where you at least have some amount of revenue and you're looking to scale that revenue and you're looking to scale that revenue and you're looking to scale that and so the program and the things that and so the program and the things that and so the program and the things that we work on applies the best for folks we work on applies the best for folks we work on applies the best for folks who have some amount of revenue and you who have some amount of revenue and you who have some amount of revenue and you might not get as much out of tiny seed might not get as much out of tiny seed might not get as much out of tiny seed if we funded you pre-revenue because if we funded you pre-revenue because if we funded you pre-revenue because you'll be spending so much time trying you'll be spending so much time trying you'll be spending so much time trying to to to to achieve that um amount of revenue so to achieve that um amount of revenue so to achieve that um amount of revenue so it's not just like we're trying to be it's not just like we're trying to be it's not just like we're trying to be jerks or trying to like you know jerks or trying to like you know jerks or trying to like you know it's not just because of the it's not just because of the it's not just because of the applications but it's because we we know applications but it's because we we know applications but it's because we we know where we can be of most help and it's to where we can be of most help and it's to where we can be of most help and it's to help folks scale help folks scale help folks scale yep that's a great answer thanks tracy yep that's a great answer thanks tracy yep that's a great answer thanks tracy all right next question if we are all right next question if we are all right next question if we are pre-app dev so we do not have software pre-app dev so we do not have software pre-app dev so we do not have software but we are manually emulating the app but we are manually emulating the app but we are manually emulating the app that will facilitate our methodology that will facilitate our methodology that will facilitate our methodology would that possibly qualify or would the would that possibly qualify or would the would that possibly qualify or would the app itself the software need to be in app itself the software need to be in app itself the software need to be in beta etc beta etc beta etc though 120k from tinyseed would be though 120k from tinyseed would be though 120k from tinyseed would be what we need to start development what we need to start development what we need to start development ooh this i like this question because ooh this i like this question because ooh this i like this question because this is um this is um this is um yeah so i'm going to weigh in but i'm yeah so i'm going to weigh in but i'm yeah so i'm going to weigh in but i'm curious to hear your thoughts as well no curious to hear your thoughts as well no curious to hear your thoughts as well no i want to hear your thoughts because i want to hear your thoughts because i want to hear your thoughts because okay yeah i so to me if you have built a okay yeah i so to me if you have built a okay yeah i so to me if you have built a business business business that you're doing manually whether it's that you're doing manually whether it's that you're doing manually whether it's with human automation like a virtual with human automation like a virtual with human automation like a virtual assistant or you're just behind the assistant or you're just behind the assistant or you're just behind the scenes cranking out excel spreadsheets scenes cranking out excel spreadsheets scenes cranking out excel spreadsheets that later on at software will build and that later on at software will build and that later on at software will build and you've built that to multiple thousands you've built that to multiple thousands you've built that to multiple thousands a month in monthly recurring revenue a month in monthly recurring revenue a month in monthly recurring revenue i want to talk to you because that is

i want to talk to you because that is i want to talk to you because that is amazing hustle and to me that's some amazing hustle and to me that's some amazing hustle and to me that's some type of traction we you know type of traction we you know type of traction we you know if we could fund businesses without if we could fund businesses without if we could fund businesses without software it would be a lot easier right software it would be a lot easier right software it would be a lot easier right but the software is essentially what but the software is essentially what but the software is essentially what creates a lot of value in the business creates a lot of value in the business creates a lot of value in the business but truly like customers paying you for but truly like customers paying you for but truly like customers paying you for a result a result a result that's where the true value is so i that's where the true value is so i that's where the true value is so i would say yes apply let's have a would say yes apply let's have a would say yes apply let's have a conversation just make sure to caveat conversation just make sure to caveat conversation just make sure to caveat somewhere in the application that like somewhere in the application that like somewhere in the application that like this revenue that we don't have software this revenue that we don't have software this revenue that we don't have software yet but we plan to build it and um yet but we plan to build it and um yet but we plan to build it and um because we do have some folks who come because we do have some folks who come because we do have some folks who come in and put a lot of revenue but it's in and put a lot of revenue but it's in and put a lot of revenue but it's like purely consulting revenue for like purely consulting revenue for like purely consulting revenue for example it's like i'm writing custom example it's like i'm writing custom example it's like i'm writing custom software for each of these clients but i software for each of these clients but i software for each of these clients but i have 10k a month in recurring revenue have 10k a month in recurring revenue have 10k a month in recurring revenue it's like yeah but you're so you're not it's like yeah but you're so you're not it's like yeah but you're so you're not sas and you're not even headed in the sas and you're not even headed in the sas and you're not even headed in the direction of sas versus this question direction of sas versus this question direction of sas versus this question asker has basically built a asker has basically built a asker has basically built a human-powered mvp of a sas product it human-powered mvp of a sas product it human-powered mvp of a sas product it sounds like sounds like sounds like cool i'm glad you answered that because cool i'm glad you answered that because cool i'm glad you answered that because i like it that was really illuminated i like it that was really illuminated i like it that was really illuminated that one's out of left field i don't that one's out of left field i don't that one's out of left field i don't know that we've had many people do that know that we've had many people do that know that we've had many people do that but i love the hustle there i think it's but i love the hustle there i think it's but i love the hustle there i think it's certainly the cool part of the certainly the cool part of the certainly the cool part of the applications though there's nuance and applications though there's nuance and applications though there's nuance and you can provide more context and give us you can provide more context and give us you can provide more context and give us the story and uh that's what lets us you the story and uh that's what lets us you the story and uh that's what lets us you know know know look beyond the numbers yep i will say look beyond the numbers yep i will say look beyond the numbers yep i will say like most of the application fields like most of the application fields like most of the application fields we'll have like a little note saying you we'll have like a little note saying you we'll have like a little note saying you know for a few saying limit to one to know for a few saying limit to one to know for a few saying limit to one to two paragraphs but there's no actual two paragraphs but there's no actual two paragraphs but there's no actual physical limit and we're not going to physical limit and we're not going to physical limit and we're not going to ping you if you do more we just kind of ping you if you do more we just kind of ping you if you do more we just kind of want to let people know that we don't want to let people know that we don't want to let people know that we don't require to do giant answers but if you require to do giant answers but if you require to do giant answers but if you need that space to give us more clarity need that space to give us more clarity need that space to give us more clarity about what you're working on or kind of about what you're working on or kind of about what you're working on or kind of go into more detail like feel free to go into more detail like feel free to go into more detail like feel free to blow past that two paragraph answer i blow past that two paragraph answer i blow past that two paragraph answer i just don't want everyone to feel like just don't want everyone to feel like just don't want everyone to feel like they have to do more than that but it's

they have to do more than that but it's they have to do more than that but it's you know there is no physical limit so you know there is no physical limit so you know there is no physical limit so feel free to add that context if you feel free to add that context if you feel free to add that context if you need need need all right next question is it possible all right next question is it possible all right next question is it possible to join the accelerator without funding to join the accelerator without funding to join the accelerator without funding so i'm guessing that this person wants so i'm guessing that this person wants so i'm guessing that this person wants to to to have the mentorship the advice and the have the mentorship the advice and the have the mentorship the advice and the community community community but not take funding well if you're but not take funding well if you're but not take funding well if you're still willing to give up the same amount still willing to give up the same amount still willing to give up the same amount of equity absolutely we'll take that of equity absolutely we'll take that of equity absolutely we'll take that yeah yeah yeah that was the question right yeah so yes that was the question right yeah so yes that was the question right yeah so yes we will happily take you without funding we will happily take you without funding we will happily take you without funding but but in order for this to be worth but but in order for this to be worth but but in order for this to be worth like the whole mission of tinyseed it we like the whole mission of tinyseed it we like the whole mission of tinyseed it we have to take some ownership otherwise have to take some ownership otherwise have to take some ownership otherwise we're we're essentially a non-profit and we're we're essentially a non-profit and we're we're essentially a non-profit and that's you know that's not how the fund that's you know that's not how the fund that's you know that's not how the fund works so um works so um works so um if you want to see how the fund works we if you want to see how the fund works we if you want to see how the fund works we actually have that on our website it's actually have that on our website it's actually have that on our website it's in the footer it's under a slash thesis in the footer it's under a slash thesis in the footer it's under a slash thesis so tennessee.com thesis and that's what so tennessee.com thesis and that's what so tennessee.com thesis and that's what we it's up there or you can read what we it's up there or you can read what we it's up there or you can read what how we're talking about tennessee to how we're talking about tennessee to how we're talking about tennessee to investors and get some more clarity in investors and get some more clarity in investors and get some more clarity in terms of how we work on that side of terms of how we work on that side of terms of how we work on that side of things things things yeah that's a yeah that's a yeah that's a i'm great page i'm great page i'm great page down down down okay i was just but yeah i was just okay i was just but yeah i was just okay i was just but yeah i was just gonna say like that usually people yeah gonna say like that usually people yeah gonna say like that usually people yeah we get that question probably every we get that question probably every we get that question probably every every round every round every round um because um because um because the value of tennessee mostly comes from the value of tennessee mostly comes from the value of tennessee mostly comes from our community and our mentorship like our community and our mentorship like our community and our mentorship like rob like rob says uh i think we we rob like rob says uh i think we we rob like rob says uh i think we we talked about maybe exploring it but i talked about maybe exploring it but i talked about maybe exploring it but i think it wasn't think it wasn't think it wasn't um um um just doesn't work as much as yeah it just doesn't work as much as yeah it just doesn't work as much as yeah it doesn't make sense yeah there are doesn't make sense yeah there are doesn't make sense yeah there are probably i would say 70-ish percent of probably i would say 70-ish percent of probably i would say 70-ish percent of the companies who we fund through tiny the companies who we fund through tiny the companies who we fund through tiny tinyseed tell us we don't actually need

tinyseed tell us we don't actually need tinyseed tell us we don't actually need this money yeah we are at the point this money yeah we are at the point this money yeah we are at the point where we can just figure it out where we can just figure it out where we can just figure it out yeah we can do revenue-based financing yeah we can do revenue-based financing yeah we can do revenue-based financing like we would figure it out without the like we would figure it out without the like we would figure it out without the money money money but you know it's still a but you know it's still a but you know it's still a some people do 10 20 30 do need the some people do 10 20 30 do need the some people do 10 20 30 do need the money so it's cool if you need it and money so it's cool if you need it and money so it's cool if you need it and it's cool if you don't the vast majority it's cool if you don't the vast majority it's cool if you don't the vast majority of value though because you can go get of value though because you can go get of value though because you can go get 120 180k from a lot of different sources 120 180k from a lot of different sources 120 180k from a lot of different sources you cannot get the mentorship the advice you cannot get the mentorship the advice you cannot get the mentorship the advice and the uh the community that you get and the uh the community that you get and the uh the community that you get from tiny anywhere else from tiny anywhere else from tiny anywhere else i'm going to jump down to a question i'm going to jump down to a question i'm going to jump down to a question because it's just so fundamental do you because it's just so fundamental do you because it's just so fundamental do you accept solo founders accept solo founders accept solo founders yes yes yes big article on that yep not only do we big article on that yep not only do we big article on that yep not only do we accept but we accept but we accept but we we are we are we are what he calls almost biased i am bullish what he calls almost biased i am bullish what he calls almost biased i am bullish yep biased towards solo founders yep biased towards solo founders yep biased towards solo founders especially with bootstrappers capital especially with bootstrappers capital especially with bootstrappers capital efficient companies um the venture efficient companies um the venture efficient companies um the venture industrial complex has seemed to be industrial complex has seemed to be industrial complex has seemed to be say a little bit anti-single founder and say a little bit anti-single founder and say a little bit anti-single founder and they really want two three four person they really want two three four person they really want two three four person teams teams teams the vast majority of the successful the vast majority of the successful the vast majority of the successful bootstrappers that you know i've seen in bootstrappers that you know i've seen in bootstrappers that you know i've seen in my 16 years 15 years of doing this have my 16 years 15 years of doing this have my 16 years 15 years of doing this have been single founders and so if i were to been single founders and so if i were to been single founders and so if i were to guess guess guess of of the compa of the 60 companies we of of the compa of the 60 companies we of of the compa of the 60 companies we funded funded funded i think i think i think three quarters of them three quarters of them three quarters of them are single founders you think that's are single founders you think that's are single founders you think that's accurate somewhere in this let's say 50 accurate somewhere in this let's say 50 accurate somewhere in this let's say 50 really we need to figure we need to look really we need to figure we need to look really we need to figure we need to look at this so somewhere in between 50 and at this so somewhere in between 50 and at this so somewhere in between 50 and 75.

75. 75. yeah yeah yeah so anyways yes single founders awesome so anyways yes single founders awesome so anyways yes single founders awesome it's almost like you can be scrappier it's almost like you can be scrappier it's almost like you can be scrappier because if you as a single founder you because if you as a single founder you because if you as a single founder you have to wear a lot of hats we love have to wear a lot of hats we love have to wear a lot of hats we love people who wear a lot of hats because people who wear a lot of hats because people who wear a lot of hats because the thing about the thing about the thing about you know being a founder and you're just you know being a founder and you're just you know being a founder and you're just constantly having to constantly having to constantly having to learn everything you need to order to learn everything you need to order to learn everything you need to order to get your company to the next level and i get your company to the next level and i get your company to the next level and i feel like solo founders are of that feel like solo founders are of that feel like solo founders are of that mindset i say that i'm biased because i mindset i say that i'm biased because i mindset i say that i'm biased because i was a former solo founder myself with my was a former solo founder myself with my was a former solo founder myself with my last startup last startup last startup yeah exactly we love it you know we love yeah exactly we love it you know we love yeah exactly we love it you know we love scrappy people um who will you know scrappy people um who will you know scrappy people um who will you know learn what they need to learn in order learn what they need to learn in order learn what they need to learn in order to take their company out to the next to take their company out to the next to take their company out to the next level because that's really what level because that's really what level because that's really what tennessee's doing is we're gonna be tennessee's doing is we're gonna be tennessee's doing is we're gonna be throwing a lot of information and a lot throwing a lot of information and a lot throwing a lot of information and a lot of best practices um and just like of best practices um and just like of best practices um and just like really just filling your brain with like really just filling your brain with like really just filling your brain with like all of that so you can just go out and all of that so you can just go out and all of that so you can just go out and get things done get things done get things done hey judy judy say hi um thanks for that hey judy judy say hi um thanks for that hey judy judy say hi um thanks for that question digital ceo that's a that's a question digital ceo that's a that's a question digital ceo that's a that's a really good one and i'm glad i'm glad we really good one and i'm glad i'm glad we really good one and i'm glad i'm glad we covered it next question do uk companies covered it next question do uk companies covered it next question do uk companies need to be s e i s or e i s registered need to be s e i s or e i s registered need to be s e i s or e i s registered so for those tracy alex are you familiar so for those tracy alex are you familiar so for those tracy alex are you familiar with those i'm not okay cool and this is with those i'm not okay cool and this is with those i'm not okay cool and this is well we will all be familiar with this well we will all be familiar with this well we will all be familiar with this in six months after we've read it first in six months after we've read it first in six months after we've read it first batch but basically in the uk you can batch but basically in the uk you can batch but basically in the uk you can apply for these statuses seis eis where apply for these statuses seis eis where apply for these statuses seis eis where if you raise like an angel round or i if you raise like an angel round or i if you raise like an angel round or i think even venture think even venture think even venture the and the investors are in the and the investors are in the and the investors are in either the uk or the eu i don't know either the uk or the eu i don't know either the uk or the eu i don't know exactly but they get this huge tax break exactly but they get this huge tax break exactly but they get this huge tax break huge so it's like if i write you a huge so it's like if i write you a huge so it's like if i write you a hundred thousand dollar check i'm in the hundred thousand dollar check i'm in the hundred thousand dollar check i'm in the uk funding uk company your seis uk funding uk company your seis uk funding uk company your seis registered i get a 25 000 registered i get a 25 000 registered i get a 25 000 tax credit tax credit tax credit not a write-off but a credit on my next

not a write-off but a credit on my next not a write-off but a credit on my next tax return so it's like a huge uh tax return so it's like a huge uh tax return so it's like a huge uh benefit benefit benefit um the answer is um the answer is um the answer is i don't believe so and if you're not i don't believe so and if you're not i don't believe so and if you're not already you should still apply and if we already you should still apply and if we already you should still apply and if we decide that that we do that that is you decide that that we do that that is you decide that that we do that that is you know advantageous um know advantageous um know advantageous um we have three months of due diligence we have three months of due diligence we have three months of due diligence and back and forth about this and back and forth about this and back and forth about this my this is truly an art question because my this is truly an art question because my this is truly an art question because he's most familiar with all you know the he's most familiar with all you know the he's most familiar with all you know the legality and stuff but my gut is i think legality and stuff but my gut is i think legality and stuff but my gut is i think you have to be a uk-based fund or you have to be a uk-based fund or you have to be a uk-based fund or investor investor investor in order to take advantage of that and in order to take advantage of that and in order to take advantage of that and our fund will not be located in the uk our fund will not be located in the uk our fund will not be located in the uk so i don't believe that we can take so i don't believe that we can take so i don't believe that we can take advantage of it so advantage of it so advantage of it so for anyone who's not aware of our team for anyone who's not aware of our team for anyone who's not aware of our team anar is the other general partner of anar is the other general partner of anar is the other general partner of tennessee right and he does a lot of the tennessee right and he does a lot of the tennessee right and he does a lot of the fundraising and and the legal side of fundraising and and the legal side of fundraising and and the legal side of things things things we have next question we have revenue we have next question we have revenue we have next question we have revenue from a few different products that are from a few different products that are from a few different products that are related and address similar customer related and address similar customer related and address similar customer problems would they all be considered as problems would they all be considered as problems would they all be considered as part of an application under a single part of an application under a single part of an application under a single umbrella umbrella umbrella tracy makes tracy makes tracy makes uh i feel like we've gotten a few uh i feel like we've gotten a few uh i feel like we've gotten a few i mean we funded a few people like this i mean we funded a few people like this i mean we funded a few people like this right that have a few different products right that have a few different products right that have a few different products yeah so yeah i mean it's um yeah so yeah i mean it's um yeah so yeah i mean it's um we talked to somebody who thinks this we talked to somebody who thinks this we talked to somebody who thinks this suite of shopify apps who had like five suite of shopify apps who had like five suite of shopify apps who had like five shopping apps and applied with them all shopping apps and applied with them all shopping apps and applied with them all under the same umbrella yeah so one under the same umbrella yeah so one under the same umbrella yeah so one application is definitely better because application is definitely better because application is definitely better because we can see everything as a whole we can we can see everything as a whole we can we can see everything as a whole we can see your business as a whole we can talk see your business as a whole we can talk see your business as a whole we can talk to you um because if it's multiple to you um because if it's multiple to you um because if it's multiple applications we might miss that it's the applications we might miss that it's the applications we might miss that it's the same person the way that the application same person the way that the application same person the way that the application system is set up because we evaluate system is set up because we evaluate system is set up because we evaluate each application individually not like

each application individually not like each application individually not like by submitter so definitely put that by submitter so definitely put that by submitter so definitely put that under one application under one application under one application yes indeed next question we've launched yes indeed next question we've launched yes indeed next question we've launched a closed beta of our cloud observability a closed beta of our cloud observability a closed beta of our cloud observability product we are two months away before product we are two months away before product we are two months away before making it commercially available is it a making it commercially available is it a making it commercially available is it a good time to apply or is it better to good time to apply or is it better to good time to apply or is it better to apply when you have paying customers apply when you have paying customers apply when you have paying customers i would say apply when you have paying i would say apply when you have paying i would say apply when you have paying customers we run yeah this is why we run customers we run yeah this is why we run customers we run yeah this is why we run batches every six months because in six batches every six months because in six batches every six months because in six if you're in beta if you go live in two if you're in beta if you go live in two if you're in beta if you go live in two months it gives you four months to get months it gives you four months to get months it gives you four months to get traction and you know whatever it is traction and you know whatever it is traction and you know whatever it is august september when we open the the august september when we open the the august september when we open the the next august probably yep which is just next august probably yep which is just next august probably yep which is just america's though right we'll have uh america's though right we'll have uh america's though right we'll have uh clarify yeah good point clarify yeah good point clarify yeah good point it's not emea mia is only once a year or it's not emea mia is only once a year or it's not emea mia is only once a year or eus right now it's a year yeah we'll be eus right now it's a year yeah we'll be eus right now it's a year yeah we'll be moving to twice a year i think but yeah moving to twice a year i think but yeah moving to twice a year i think but yeah we did two one year like we did two one year like we did two one year like uh 2019 2020 we're kind of following the uh 2019 2020 we're kind of following the uh 2019 2020 we're kind of following the same playbook we did before where we same playbook we did before where we same playbook we did before where we tested out the system made sure tested out the system made sure tested out the system made sure everything worked did it once a year everything worked did it once a year everything worked did it once a year moving to two years for you know we moving to two years for you know we moving to two years for you know we moved to two years for the americas moved to two years for the americas moved to two years for the americas starting slowly with europe so yes only starting slowly with europe so yes only starting slowly with europe so yes only one one one application per year for europe right application per year for europe right application per year for europe right now now now that said if you launch your app and it that said if you launch your app and it that said if you launch your app and it is taking off and you're like i can't is taking off and you're like i can't is taking off and you're like i can't wait especially for europe i can't wait wait especially for europe i can't wait wait especially for europe i can't wait another eight months send us an email um another eight months send us an email um another eight months send us an email um we have the syndicate we there is a we have the syndicate we there is a we have the syndicate we there is a possibility for late acceptances possibility for late acceptances possibility for late acceptances yep mid-batch except acceptances um so yep mid-batch except acceptances um so yep mid-batch except acceptances um so there are things it's everything really there are things it's everything really there are things it's everything really we're flexible people nothing is set in we're flexible people nothing is set in we're flexible people nothing is set in stone we try to leave guidelines um if stone we try to leave guidelines um if stone we try to leave guidelines um if you're in that situation feel free to you're in that situation feel free to you're in that situation feel free to reach out and we can let you know

reach out and we can let you know reach out and we can let you know next question what are the typical next question what are the typical next question what are the typical metrics that you use to evaluate metrics that you use to evaluate metrics that you use to evaluate investment opportunities aside from the investment opportunities aside from the investment opportunities aside from the minimum 500 a month in revenue minimum 500 a month in revenue minimum 500 a month in revenue follow-up are investment terms the same follow-up are investment terms the same follow-up are investment terms the same or pro-rated if a founder is part-time or pro-rated if a founder is part-time or pro-rated if a founder is part-time so i'll answer that second question so i'll answer that second question so i'll answer that second question first first first one of the conditions of there's really one of the conditions of there's really one of the conditions of there's really two conditions um that we fund a founder two conditions um that we fund a founder two conditions um that we fund a founder on our founders is number one that you on our founders is number one that you on our founders is number one that you when you accept our money that you do go when you accept our money that you do go when you accept our money that you do go full time on the product so you no full time on the product so you no full time on the product so you no longer can be part-time on it all longer can be part-time on it all longer can be part-time on it all founders right yep yeah all founders yes founders right yep yeah all founders yes founders right yep yeah all founders yes some unless we some unless we some unless we yeah and the best and firms are per yeah and the best and firms are per yeah and the best and firms are per founder and i guess there's there's a founder and i guess there's there's a founder and i guess there's there's a situation where if you have a lot like situation where if you have a lot like situation where if you have a lot like multiple founders and one founder multiple founders and one founder multiple founders and one founder doesn't go part-time it just means the doesn't go part-time it just means the doesn't go part-time it just means the investment would change right it doesn't investment would change right it doesn't investment would change right it doesn't go full-time so we do have a case where go full-time so we do have a case where go full-time so we do have a case where we have a couple cases where all the we have a couple cases where all the we have a couple cases where all the founders didn't go full-time but then founders didn't go full-time but then founders didn't go full-time but then they get the investment amount only for they get the investment amount only for they get the investment amount only for the number of founders who went the number of founders who went the number of founders who went full-time so there's no prorating there full-time so there's no prorating there full-time so there's no prorating there and then what are the typical metrics and then what are the typical metrics and then what are the typical metrics that used to evaluate i mean yeah that's that used to evaluate i mean yeah that's that used to evaluate i mean yeah that's a whole that's like a whole podcast a whole that's like a whole podcast a whole that's like a whole podcast episode or something but it's like it's episode or something but it's like it's episode or something but it's like it's the people it's product market fit it's the people it's product market fit it's the people it's product market fit it's price sensitivity you know we have like price sensitivity you know we have like price sensitivity you know we have like 41 things in a google doc of like it's 41 things in a google doc of like it's 41 things in a google doc of like it's traction it's what we think of the traction it's what we think of the traction it's what we think of the founders it's what we think of the founders it's what we think of the founders it's what we think of the market opportunity you know it's market opportunity you know it's market opportunity you know it's basically it's a very long list um basically it's a very long list um basically it's a very long list um yeah like i said the the yeses never yeah like i said the the yeses never yeah like i said the the yeses never come from looking at the application and come from looking at the application and come from looking at the application and setting over yes there's there's always setting over yes there's there's always setting over yes there's there's always going to be going to be going to be you know probably at least two chats you know probably at least two chats you know probably at least two chats with the tennessee team as we like dig with the tennessee team as we like dig with the tennessee team as we like dig into we you know ask follow-up questions into we you know ask follow-up questions into we you know ask follow-up questions we dig into some of your answers we you

we dig into some of your answers we you we dig into some of your answers we you know know know have to do like more valuation so have to do like more valuation so have to do like more valuation so everything in the application is everything in the application is everything in the application is technically considered technically considered technically considered yep yep yep and there's a follow-up to that can you and there's a follow-up to that can you and there's a follow-up to that can you explain what defines a second or third explain what defines a second or third explain what defines a second or third founder founder founder is it an equity percentage or something is it an equity percentage or something is it an equity percentage or something else that adjusts the funding amount you else that adjusts the funding amount you else that adjusts the funding amount you provide and so yes a founder is defined provide and so yes a founder is defined provide and so yes a founder is defined as someone who owns at least 15 percent as someone who owns at least 15 percent as someone who owns at least 15 percent of the company and who is willing to go of the company and who is willing to go of the company and who is willing to go full-time to work full-time on the full-time to work full-time on the full-time to work full-time on the product once you receive the funding product once you receive the funding product once you receive the funding yeah yeah yeah next question is raising a funding route next question is raising a funding route next question is raising a funding route alongside a tiny application something alongside a tiny application something alongside a tiny application something that could work that could work that could work so here's the advice that we give the so here's the advice that we give the so here's the advice that we give the best best best what we found to be the optimal way is what we found to be the optimal way is what we found to be the optimal way is some companies come in they raise the some companies come in they raise the some companies come in they raise the tiny seed money and then within tiny seed money and then within tiny seed money and then within two to four months later they then raise two to four months later they then raise two to four months later they then raise essentially a follow-on round and that essentially a follow-on round and that essentially a follow-on round and that is inevitably at a higher valuation is inevitably at a higher valuation is inevitably at a higher valuation because of the value that tiny seed because of the value that tiny seed because of the value that tiny seed brings and usually that follow-on is brings and usually that follow-on is brings and usually that follow-on is maybe a safer convertible note whereas maybe a safer convertible note whereas maybe a safer convertible note whereas we are you know straight equity um and we are you know straight equity um and we are you know straight equity um and these days you can you know if you have these days you can you know if you have these days you can you know if you have a network and want to raise it that's a network and want to raise it that's a network and want to raise it that's great we also great we also great we also can um you know help with that we have can um you know help with that we have can um you know help with that we have our own tiny clps we have our tiny seed our own tiny clps we have our tiny seed our own tiny clps we have our tiny seed syndicate for follow-on so the answer is syndicate for follow-on so the answer is syndicate for follow-on so the answer is effectively yes to that question uh but effectively yes to that question uh but effectively yes to that question uh but i personally i wouldn't do it alongside i personally i wouldn't do it alongside i personally i wouldn't do it alongside i would do it a few months later because i would do it a few months later because i would do it a few months later because the you just get more bang for your buck the you just get more bang for your buck the you just get more bang for your buck then because the valuation increases then because the valuation increases then because the valuation increases yeah and there's some like nitpicky yeah and there's some like nitpicky yeah and there's some like nitpicky details in that you know we our details in that you know we our details in that you know we our investment is not as safe for confirmed

investment is not as safe for confirmed investment is not as safe for confirmed mono is equity and so there are mono is equity and so there are mono is equity and so there are some situations where some situations where some situations where i don't know for some people that might i don't know for some people that might i don't know for some people that might be an issue with with if you raise be an issue with with if you raise be an issue with with if you raise previous money i don't know nothing previous money i don't know nothing previous money i don't know nothing again this is not like nothing is a uh again this is not like nothing is a uh again this is not like nothing is a uh like a bad thing or like it would like a bad thing or like it would like a bad thing or like it would prevent us from investing you but i'm prevent us from investing you but i'm prevent us from investing you but i'm just saying that there's take a look at just saying that there's take a look at just saying that there's take a look at our investment terms as well um and make our investment terms as well um and make our investment terms as well um and make sure that that plays well with your sure that that plays well with your sure that that plays well with your plans plans plans next question is it strictly b2b next question is it strictly b2b next question is it strictly b2b and the answer is yeah pretty much but i and the answer is yeah pretty much but i and the answer is yeah pretty much but i mean we've had some kind of pro prosumer mean we've had some kind of pro prosumer mean we've had some kind of pro prosumer you know like like for example we funded you know like like for example we funded you know like like for example we funded squad cast and castos which uh serve as squad cast and castos which uh serve as squad cast and castos which uh serve as podcasters right and they podcasters right and they podcasters right and they they're they're they're b2b podcasts or their business podcast b2b podcasts or their business podcast b2b podcasts or their business podcast businesses but then they're also businesses but then they're also businesses but then they're also hobbyists that use it so um if you have hobbyists that use it so um if you have hobbyists that use it so um if you have some path to get to some price above some path to get to some price above some path to get to some price above nine dollars a month i mean usually the nine dollars a month i mean usually the nine dollars a month i mean usually the problem with prosumer or consumer is problem with prosumer or consumer is problem with prosumer or consumer is it's like well i can charge six dollars it's like well i can charge six dollars it's like well i can charge six dollars a month and i need a million people to a month and i need a million people to a month and i need a million people to actually make money you know or i need a actually make money you know or i need a actually make money you know or i need a hundred thousand people that's usually hundred thousand people that's usually hundred thousand people that's usually the issue however we have usually it the issue however we have usually it the issue however we have usually it requires the vc path for that right you requires the vc path for that right you requires the vc path for that right you know you need a lot more money into your know you need a lot more money into your know you need a lot more money into your business to get to scale to that level business to get to scale to that level business to get to scale to that level right and so strictly b2b it's like right and so strictly b2b it's like right and so strictly b2b it's like yeah we lean that way but like b2b like yeah we lean that way but like b2b like yeah we lean that way but like b2b like a vsb a very small business is you know a vsb a very small business is you know a vsb a very small business is you know a solopreneur consultant who needs a a solopreneur consultant who needs a a solopreneur consultant who needs a platform to manage her coaching business platform to manage her coaching business platform to manage her coaching business and and and that so it's like would you call that that so it's like would you call that that so it's like would you call that it's not enterprise but it's like she it's not enterprise but it's like she it's not enterprise but it's like she runs a business you know we have had runs a business you know we have had runs a business you know we have had some folks apply who have you know say some folks apply who have you know say some folks apply who have you know say have stuff in like the tabletop gaming have stuff in like the tabletop gaming have stuff in like the tabletop gaming space and we have actually had space and we have actually had space and we have actually had conversations with them so if you have

conversations with them so if you have conversations with them so if you have traction and you truly are b2c and you traction and you truly are b2c and you traction and you truly are b2c and you have traction have traction have traction we sh we should still chat um but in we sh we should still chat um but in we sh we should still chat um but in general like if you look down the list general like if you look down the list general like if you look down the list of companies we've funded it has wound of companies we've funded it has wound of companies we've funded it has wound up over overwhelmingly like maybe like up over overwhelmingly like maybe like up over overwhelmingly like maybe like 99 out of 100 but you know been pretty 99 out of 100 but you know been pretty 99 out of 100 but you know been pretty um b2b focused yeah i mean it's another um b2b focused yeah i mean it's another um b2b focused yeah i mean it's another case also where our program is geared case also where our program is geared case also where our program is geared more towards b2b so there are things more towards b2b so there are things more towards b2b so there are things that you would go through as a b2c that you would go through as a b2c that you would go through as a b2c company that we wouldn't be able to help company that we wouldn't be able to help company that we wouldn't be able to help with because ours our experience our with because ours our experience our with because ours our experience our mentor's experience and our program are mentor's experience and our program are mentor's experience and our program are kind of around the issues of b2b kind of around the issues of b2b kind of around the issues of b2b businesses and there are things that you businesses and there are things that you businesses and there are things that you know we all want to know we all want to know we all want to we want to make sure that the we want to make sure that the we want to make sure that the everyone who is in tiny state is getting everyone who is in tiny state is getting everyone who is in tiny state is getting the most out of tiny scene so that is the most out of tiny scene so that is the most out of tiny scene so that is also something that i would have a chat also something that i would have a chat also something that i would have a chat with a person about just to make sure with a person about just to make sure with a person about just to make sure that that you know if you're a b2c that that you know if you're a b2c that that you know if you're a b2c business and you're just in tiny seed business and you're just in tiny seed business and you're just in tiny seed and we're interested in working with you and we're interested in working with you and we're interested in working with you i would have a chat with you in terms of i would have a chat with you in terms of i would have a chat with you in terms of you know making sure the program works you know making sure the program works you know making sure the program works for the challenges that you're going to for the challenges that you're going to for the challenges that you're going to face yeah i would agree that's a good face yeah i would agree that's a good face yeah i would agree that's a good way to think about it because i do think way to think about it because i do think way to think about it because i do think the reason we talked to a couple of the the reason we talked to a couple of the the reason we talked to a couple of the bbc founders who applied is i think they bbc founders who applied is i think they bbc founders who applied is i think they did a lot of content in seo and we do did a lot of content in seo and we do did a lot of content in seo and we do have content and seo expertise and have content and seo expertise and have content and seo expertise and mentors and advisors but if you have mentors and advisors but if you have mentors and advisors but if you have some other channel that's like whatever some other channel that's like whatever some other channel that's like whatever it's a pure b2c play it may not be a fit it's a pure b2c play it may not be a fit it's a pure b2c play it may not be a fit the second part of that question is is the second part of that question is is the second part of that question is is there no room at all for a pre-revenue there no room at all for a pre-revenue there no room at all for a pre-revenue sas pretty pretty much i mean we haven't sas pretty pretty much i mean we haven't sas pretty pretty much i mean we haven't funded a pre-revenue sas in the past i funded a pre-revenue sas in the past i funded a pre-revenue sas in the past i think we did one or two in the first think we did one or two in the first think we did one or two in the first batch and then none after that so that's batch and then none after that so that's batch and then none after that so that's pretty much been the you know it's like pretty much been the you know it's like pretty much been the you know it's like 500 500 a month and up apply um other 500 500 a month and up apply um other 500 500 a month and up apply um other than that get traction and then apply

than that get traction and then apply than that get traction and then apply once you do you know and that's why we once you do you know and that's why we once you do you know and that's why we have the openings so frequently how many have the openings so frequently how many have the openings so frequently how many sas businesses can you submit sas businesses can you submit sas businesses can you submit well as many as you have doing 500 a well as many as you have doing 500 a well as many as you have doing 500 a month or up month or up month or up uh yeah that's the thing it's like when uh yeah that's the thing it's like when uh yeah that's the thing it's like when someone submits that question i think someone submits that question i think someone submits that question i think like are all of them making over exactly like are all of them making over exactly like are all of them making over exactly right or these ideas you have because if right or these ideas you have because if right or these ideas you have because if they're just ideas like work on one and they're just ideas like work on one and they're just ideas like work on one and get it to the point where it makes sense get it to the point where it makes sense get it to the point where it makes sense for us to fund because if we were to for us to fund because if we were to for us to fund because if we were to fund you and give you our expertise and fund you and give you our expertise and fund you and give you our expertise and you just have an idea i'm just not sure you just have an idea i'm just not sure you just have an idea i'm just not sure how much we can actually help you at how much we can actually help you at how much we can actually help you at that at that stage and maybe it takes that at that stage and maybe it takes that at that stage and maybe it takes you two three years to get to the point you two three years to get to the point you two three years to get to the point you know where you where you have the you know where you where you have the you know where you where you have the traction you know that you need to keep traction you know that you need to keep traction you know that you need to keep going do you fund sas that have a going do you fund sas that have a going do you fund sas that have a reseller component to their product i reseller component to their product i reseller component to their product i think that might mean white labeling and think that might mean white labeling and think that might mean white labeling and i yeah we've had folks work with i yeah we've had folks work with i yeah we've had folks work with resellers on whether someone resells resellers on whether someone resells resellers on whether someone resells their product or whether they are being their product or whether they are being their product or whether they are being resold or whatever so uh i would say yes resold or whatever so uh i would say yes resold or whatever so uh i would say yes um um um that's not a deal breaker for us that's not a deal breaker for us that's not a deal breaker for us um let's see next question i'm bait i'm um let's see next question i'm bait i'm um let's see next question i'm bait i'm zipping through these because they're zipping through these because they're zipping through these because they're just you're so ready just you're so ready just you're so ready yeah we got about 20 minutes and i want yeah we got about 20 minutes and i want yeah we got about 20 minutes and i want to get through i think we might be able to get through i think we might be able to get through i think we might be able to get through them but um yeah if you to get through them but um yeah if you to get through them but um yeah if you have questions again feel free to keep have questions again feel free to keep have questions again feel free to keep submitting them that's is why i'm going submitting them that's is why i'm going submitting them that's is why i'm going so quickly i am based in the uk so quickly i am based in the uk so quickly i am based in the uk personally but i have a usc corp personally but i have a usc corp personally but i have a usc corp which location would be best in your which location would be best in your which location would be best in your opinion would i qualify for the uk based opinion would i qualify for the uk based opinion would i qualify for the uk based fund or does it not matter fund or does it not matter fund or does it not matter i know the answer to this but does i know the answer to this but does i know the answer to this but does anyone else anyone else anyone else i think we would be i mean the main part i think we would be i mean the main part i think we would be i mean the main part of uh tiny seed europe is time zone and of uh tiny seed europe is time zone and of uh tiny seed europe is time zone and uh uh uh and accessibility so and accessibility so and accessibility so uh uh uh yeah i think you should go ahead and

yeah i think you should go ahead and yeah i think you should go ahead and apply for apply for apply for um um um the uk the eu the uk the eu the uk the eu europe fund and um europe fund and um europe fund and um that'll work just fine yeah i think it that'll work just fine yeah i think it that'll work just fine yeah i think it would be better accessibility for the would be better accessibility for the would be better accessibility for the founder founder founder um the incorporation stuff is fine um um the incorporation stuff is fine um um the incorporation stuff is fine um just you know uh was the other thing oh just you know uh was the other thing oh just you know uh was the other thing oh yeah the application i should say is yeah the application i should say is yeah the application i should say is that the application that the application that the application asks which are you applying for asks which are you applying for asks which are you applying for america's europe or don't know and that america's europe or don't know and that america's europe or don't know and that is that means that we will work with you is that means that we will work with you is that means that we will work with you on that so feel free to you know if this on that so feel free to you know if this on that so feel free to you know if this question pops up for anyone um you have question pops up for anyone um you have question pops up for anyone um you have a weird situation feel free to choose a weird situation feel free to choose a weird situation feel free to choose don't know and we'll find the rest but don't know and we'll find the rest but don't know and we'll find the rest but the best bucket for you the best bucket for you the best bucket for you oh that was smart oh that was smart oh that was smart i know i didn't have a location i know i didn't have a location i know i didn't have a location in there it's really smart i love it in there it's really smart i love it in there it's really smart i love it when people do smart things and i don't when people do smart things and i don't when people do smart things and i don't have to be involved all right i have have to be involved all right i have have to be involved all right i have revenue but it is from sponsors of the revenue but it is from sponsors of the revenue but it is from sponsors of the product or service it's an open source product or service it's an open source product or service it's an open source like product like product like product but a hosted version is only available but a hosted version is only available but a hosted version is only available for a recurring fee for a recurring fee for a recurring fee for sponsors or supporters do you for sponsors or supporters do you for sponsors or supporters do you classify this as mrr classify this as mrr classify this as mrr if it's a recurring feature sponsorship if it's a recurring feature sponsorship if it's a recurring feature sponsorship supporters supporters supporters yeah if it's recurring if it's monthly yeah if it's recurring if it's monthly yeah if it's recurring if it's monthly recurring i would classified as mrr and recurring i would classified as mrr and recurring i would classified as mrr and then if there's um then if there's um then if there's um annual fees i would usually divide those annual fees i would usually divide those annual fees i would usually divide those by 12 and make them mrr but this is by 12 and make them mrr but this is by 12 and make them mrr but this is where it's that asterisk and there's an where it's that asterisk and there's an where it's that asterisk and there's an other like tell us more about your mrr other like tell us more about your mrr other like tell us more about your mrr and you can say this is from sponsors so and you can say this is from sponsors so and you can say this is from sponsors so i'm guessing are they not they're not i'm guessing are they not they're not i'm guessing are they not they're not users of the system but they're somehow users of the system but they're somehow users of the system but they're somehow sponsoring it because they feel like sponsoring it because they feel like sponsoring it because they feel like they want to support it i'm not super they want to support it i'm not super they want to support it i'm not super something we would dig into it yes

something we would dig into it yes something we would dig into it yes exactly we would just ask you more exactly we would just ask you more exactly we would just ask you more questions questions questions yeah yeah yeah are there next question is are there are there next question is are there are there next question is are there mandatory aspects mandatory aspects mandatory aspects related related related to the team to the team to the team and i think this and i think this and i think this yeah as i say there's nothing mandatory yeah as i say there's nothing mandatory yeah as i say there's nothing mandatory other than the fact the investment is other than the fact the investment is other than the fact the investment is based on founders being full-time but in based on founders being full-time but in based on founders being full-time but in terms of the program itself terms of the program itself terms of the program itself try to keep everything is not mandatory try to keep everything is not mandatory try to keep everything is not mandatory and as optional as possible so all the and as optional as possible so all the and as optional as possible so all the in-person retreats are optional all of in-person retreats are optional all of in-person retreats are optional all of the calls are optional they're recorded the calls are optional they're recorded the calls are optional they're recorded i take questions beforehand so if you i take questions beforehand so if you i take questions beforehand so if you miss the call miss the call miss the call i can ask that question for you and then i can ask that question for you and then i can ask that question for you and then you can review the recording afterwards you can review the recording afterwards you can review the recording afterwards you know we try i've you know we try i've you know we try i've founders are super busy you know and founders are super busy you know and founders are super busy you know and you're doing events and going to you're doing events and going to you're doing events and going to conferences and working on your business conferences and working on your business conferences and working on your business and whatnot and so if your actual and whatnot and so if your actual and whatnot and so if your actual program nothing is mandatory because the program nothing is mandatory because the program nothing is mandatory because the most important part of your of the most important part of your of the most important part of your of the business is you working on the business business is you working on the business business is you working on the business so we try to make things as accessible so we try to make things as accessible so we try to make things as accessible as possible it's awesome if people can as possible it's awesome if people can as possible it's awesome if people can show up to things when they're being run show up to things when they're being run show up to things when they're being run when they're run live but definitely when they're run live but definitely when they're run live but definitely nothing is mandatory muted myself sorry from the application muted myself sorry from the application how many customers are in your target how many customers are in your target how many customers are in your target market market market what geography should we consider what geography should we consider what geography should we consider so personally so personally so personally i would i would i would if if i were in the americas then i if if i were in the americas then i if if i were in the americas then i would am i'm focused on north american would am i'm focused on north american would am i'm focused on north american market then i would put north america if market then i would put north america if market then i would put north america if i was in luxembourg i was in luxembourg i was in luxembourg and you're only going after people in and you're only going after people in and you're only going after people in luxembourg then i would probably state luxembourg then i would probably state luxembourg then i would probably state that and then say but then there's x

that and then say but then there's x that and then say but then there's x amount in the entire european union amount in the entire european union amount in the entire european union which we can then you know expand into which we can then you know expand into which we can then you know expand into if needed so yeah there's doesn't have if needed so yeah there's doesn't have if needed so yeah there's doesn't have to be exact it's another one where we're to be exact it's another one where we're to be exact it's another one where we're happy to follow up with questions yep happy to follow up with questions yep happy to follow up with questions yep are you considering applications that are you considering applications that are you considering applications that depend on external paid apis but depend on external paid apis but depend on external paid apis but reselling them in a different way yes if reselling them in a different way yes if reselling them in a different way yes if you have added value to an external paid you have added value to an external paid you have added value to an external paid api think of what think of what almost api think of what think of what almost api think of what think of what almost every email service provider is except every email service provider is except every email service provider is except for mailchimp they have their own for mailchimp they have their own for mailchimp they have their own infrastructure but most of the and infrastructure but most of the and infrastructure but most of the and infusionsoft but most of them pay send infusionsoft but most of them pay send infusionsoft but most of them pay send grid or an equivalent server mail gun grid or an equivalent server mail gun grid or an equivalent server mail gun equivalent service equivalent service equivalent service and they're basically just building a and they're basically just building a and they're basically just building a value layer on top of that to allow you value layer on top of that to allow you value layer on top of that to allow you to build emails and all that so a lot of to build emails and all that so a lot of to build emails and all that so a lot of businesses come down to just being on an businesses come down to just being on an businesses come down to just being on an external paid api so absolutely external paid api so absolutely external paid api so absolutely next question do you also welcome sas next question do you also welcome sas next question do you also welcome sas apps that are running on a blockchain apps that are running on a blockchain apps that are running on a blockchain ecosystem ecosystem ecosystem i would love to fund a blockchain i would love to fund a blockchain i would love to fund a blockchain startup are you kidding me startup are you kidding me startup are you kidding me somewhere yeah somewhere yeah somewhere yeah exactly he's cheering blockchain i would exactly he's cheering blockchain i would exactly he's cheering blockchain i would love to do blockchain i'm into nfts i love to do blockchain i'm into nfts i love to do blockchain i'm into nfts i tabletop role-playing games no wait a tabletop role-playing games no wait a tabletop role-playing games no wait a minute these are just my i'm just minute these are just my i'm just minute these are just my i'm just rattling off my hobbies but yes rattling off my hobbies but yes rattling off my hobbies but yes absolutely um absolutely um absolutely um we would uh we would love to have a we would uh we would love to have a we would uh we would love to have a conversation with you conversation with you conversation with you i see the next question is i see the i see the next question is i see the i see the next question is i see the perks listed here which is tinycity.com perks listed here which is tinycity.com perks listed here which is tinycity.com perks overview perks overview perks overview i was wondering what the precise amount i was wondering what the precise amount i was wondering what the precise amount is for the aws credits and do you know is for the aws credits and do you know is for the aws credits and do you know if a startup can take advantage of your if a startup can take advantage of your if a startup can take advantage of your aws credits if they already did an aws aws credits if they already did an aws aws credits if they already did an aws activate activate activate program

program program so the first part of that question i'm so the first part of that question i'm so the first part of that question i'm actually not sure if i can say it here actually not sure if i can say it here actually not sure if i can say it here um um um it might be a part like a light nda with it might be a part like a light nda with it might be a part like a light nda with them yeah it might be part of our them yeah it might be part of our them yeah it might be part of our agreement with aws because they have so agreement with aws because they have so agreement with aws because they have so many programs to not advertise the many programs to not advertise the many programs to not advertise the maoists publicly so i apologize for that maoists publicly so i apologize for that maoists publicly so i apologize for that i will say it's quite nice and it is i will say it's quite nice and it is i will say it's quite nice and it is higher than most people higher than most people higher than most people and i think everyone is coming to tiny and i think everyone is coming to tiny and i think everyone is coming to tiny seed um seed um seed um the second part of the question which is the second part of the question which is the second part of the question which is if you have can you take advantage of if you have can you take advantage of if you have can you take advantage of the credits if you've already been the credits if you've already been the credits if you've already been through the program if our credits are through the program if our credits are through the program if our credits are larger than the amount of credits you've larger than the amount of credits you've larger than the amount of credits you've redeemed so far you'll get the redeemed so far you'll get the redeemed so far you'll get the difference so you'll be bumped up to the difference so you'll be bumped up to the difference so you'll be bumped up to the next tier so if you next tier so if you next tier so if you i'm not going to do any numbers but i'm not going to do any numbers but i'm not going to do any numbers but if ours is ours is larger then you can if ours is ours is larger then you can if ours is ours is larger then you can take advantage of that difference yes take advantage of that difference yes take advantage of that difference yes is there a sweet spot makely larger is is there a sweet spot makely larger is is there a sweet spot makely larger is there a sweet spot for the time the there a sweet spot for the time the there a sweet spot for the time the company has been in business can having company has been in business can having company has been in business can having been incorporated too long be a been incorporated too long be a been incorporated too long be a detrimental detrimental detrimental factor that's a good question yeah it is factor that's a good question yeah it is factor that's a good question yeah it is i would say no i mean i think if you're i would say no i mean i think if you're i would say no i mean i think if you're just growing extremely slowly let's say just growing extremely slowly let's say just growing extremely slowly let's say you've been in business 10 years and you've been in business 10 years and you've been in business 10 years and you're going five bucks a month mrr and you're going five bucks a month mrr and you're going five bucks a month mrr and you know you have a great business but you know you have a great business but you know you have a great business but it's very very slow growing that's the it's very very slow growing that's the it's very very slow growing that's the growth is more of a factor than the growth is more of a factor than the growth is more of a factor than the incorporation because we've had people incorporation because we've had people incorporation because we've had people who incorporated like on the side while who incorporated like on the side while who incorporated like on the side while they're working a day job and then they're working a day job and then they're working a day job and then worked a day job for four years and so worked a day job for four years and so worked a day job for four years and so they incorporated in like 2015 they incorporated in like 2015 they incorporated in like 2015 four years on the side and then they four years on the side and then they four years on the side and then they eventually quit their job 2019 2020 or eventually quit their job 2019 2020 or eventually quit their job 2019 2020 or even 2021 and then went in on it and even 2021 and then went in on it and even 2021 and then went in on it and so so so yeah we've had a lot of businesses there yeah we've had a lot of businesses there yeah we've had a lot of businesses there are many years yeah before they join are many years yeah before they join are many years yeah before they join tennessee tennessee tennessee um just you know a lot of vc funds out um just you know a lot of vc funds out um just you know a lot of vc funds out there like all they want new and shiny

there like all they want new and shiny there like all they want new and shiny businesses and that's definitely not us businesses and that's definitely not us businesses and that's definitely not us we're happy to if you know if you have we're happy to if you know if you have we're happy to if you know if you have the growth um and you're interested in the growth um and you're interested in the growth um and you're interested in chinese yes we'd love to chat with you chinese yes we'd love to chat with you chinese yes we'd love to chat with you and the question specific in the and the question specific in the and the question specific in the application asks growth in the last six application asks growth in the last six application asks growth in the last six months is what it attracts it that months is what it attracts it that months is what it attracts it that really is you can tell we're focused really is you can tell we're focused really is you can tell we're focused more on recent um more on recent um more on recent um recent growth rather rather than four recent growth rather rather than four recent growth rather rather than four years ago that's true because a lot of years ago that's true because a lot of years ago that's true because a lot of startups are very slow a lot of startups are very slow a lot of startups are very slow a lot of bootstrap starts with very slow growth bootstrap starts with very slow growth bootstrap starts with very slow growth in the early days because founders in the early days because founders in the early days because founders working a day job working a day job working a day job we have we invoice our customers in we have we invoice our customers in we have we invoice our customers in advance for a whole year can we advance for a whole year can we advance for a whole year can we calculate the mrr as arr divided by 12. calculate the mrr as arr divided by 12. calculate the mrr as arr divided by 12. yes right yeah absolutely i'm yes right yeah absolutely i'm yes right yeah absolutely i'm enthusiastic i'm making sure i'm proud enthusiastic i'm making sure i'm proud enthusiastic i'm making sure i'm proud of my do it up yeah of my do it up yeah of my do it up yeah yeah yeah yeah divided by 12 and then put in the divided by 12 and then put in the divided by 12 and then put in the explanation say but we bill annually explanation say but we bill annually explanation say but we bill annually because that's actually an advantage you because that's actually an advantage you because that's actually an advantage you build annual bill annual means you get build annual bill annual means you get build annual bill annual means you get all the cash up front so you have a more all the cash up front so you have a more all the cash up front so you have a more cash efficient business than if you were cash efficient business than if you were cash efficient business than if you were you know ar greater than greater than you know ar greater than greater than you know ar greater than greater than mrr in essence so just make a note of mrr in essence so just make a note of mrr in essence so just make a note of that but the mrr will certainly that but the mrr will certainly that but the mrr will certainly be something we look at be something we look at be something we look at we are in the process of closing a small we are in the process of closing a small we are in the process of closing a small round of funding combining love money round of funding combining love money round of funding combining love money i'm not sure what love money is i'm not sure what love money is i'm not sure what love money is combining love money and a few business combining love money and a few business combining love money and a few business angels are we in your scope or would you angels are we in your scope or would you angels are we in your scope or would you consider we will no longer be consider we will no longer be consider we will no longer be bootstrapped bootstrapped bootstrapped so it depends the answer is just raising so it depends the answer is just raising so it depends the answer is just raising a prior round doesn't automatically a prior round doesn't automatically a prior round doesn't automatically exclude you from tennessee the problem exclude you from tennessee the problem exclude you from tennessee the problem that we've seen is a lot of the some of that we've seen is a lot of the some of that we've seen is a lot of the some of the terms of safes or convertible notes the terms of safes or convertible notes the terms of safes or convertible notes make it hard or impossible to raise and make it hard or impossible to raise and make it hard or impossible to raise and accelerate around from any accelerator accelerate around from any accelerator accelerate around from any accelerator us or you know yc or anybody else after us or you know yc or anybody else after us or you know yc or anybody else after you raise that round so

you raise that round so you raise that round so my advice is if you owe money love my advice is if you owe money love my advice is if you owe money love money's friends and family i've never money's friends and family i've never money's friends and family i've never heard that term um so my advice is if heard that term um so my advice is if heard that term um so my advice is if you haven't closed the round yet and you you haven't closed the round yet and you you haven't closed the round yet and you really do want to throw your hat into really do want to throw your hat into really do want to throw your hat into tiny seed like just hold off long enough tiny seed like just hold off long enough tiny seed like just hold off long enough to hear kind of hear back from us um to hear kind of hear back from us um to hear kind of hear back from us um because then you let us know that you're because then you let us know that you're because then you let us know that you're in a rush and we can definitely expedite in a rush and we can definitely expedite in a rush and we can definitely expedite that process right so then because then that process right so then because then that process right so then because then if you get funded by tiny seed then you if you get funded by tiny seed then you if you get funded by tiny seed then you can do the round after and things tend can do the round after and things tend can do the round after and things tend to be tend to work out better if you've to be tend to work out better if you've to be tend to work out better if you've already already already started closing the round or whatever i started closing the round or whatever i started closing the round or whatever i would say when in doubt still apply and would say when in doubt still apply and would say when in doubt still apply and so apply and just mention exactly the so apply and just mention exactly the so apply and just mention exactly the terms if it's safe convertible know what terms if it's safe convertible know what terms if it's safe convertible know what the valuation was how much you raised the valuation was how much you raised the valuation was how much you raised and here's the key thing is is there a and here's the key thing is is there a and here's the key thing is is there a minimum amount raised to trigger a minimum amount raised to trigger a minimum amount raised to trigger a conversion on your questions in the conversion on your questions in the conversion on your questions in the application okay so you can we that's application okay so you can we that's application okay so you can we that's there we ask that up front because we there we ask that up front because we there we ask that up front because we have had situations you know essentially have had situations you know essentially have had situations you know essentially if you have a convert that converts at if you have a convert that converts at if you have a convert that converts at our evaluation it might not be a good our evaluation it might not be a good our evaluation it might not be a good deal for you and it's not something so deal for you and it's not something so deal for you and it's not something so just it prompts you to look into that just it prompts you to look into that just it prompts you to look into that right so as you're submitting an right so as you're submitting an right so as you're submitting an application it's not a no it's just application it's not a no it's just application it's not a no it's just potentially a hurdle for you potentially a hurdle for you potentially a hurdle for you yeah i'm curious about this field in the yeah i'm curious about this field in the yeah i'm curious about this field in the application application application uh and then quotes sales demo video uh and then quotes sales demo video uh and then quotes sales demo video sales demo not product walkthrough or sales demo not product walkthrough or sales demo not product walkthrough or background can you clarify what type of background can you clarify what type of background can you clarify what type of video is appropriate to link here how video is appropriate to link here how video is appropriate to link here how important is a video sales demo to the important is a video sales demo to the important is a video sales demo to the application grant majority of our sales application grant majority of our sales application grant majority of our sales demos are live is it worth recording a demos are live is it worth recording a demos are live is it worth recording a demo for the application demo for the application demo for the application uh that is a great question um a like uh that is a great question um a like uh that is a great question um a like it's not like a yc video we don't want it's not like a yc video we don't want it's not like a yc video we don't want something like like you fretting over something like like you fretting over something like like you fretting over and produce it's one of those situations and produce it's one of those situations and produce it's one of those situations like the slide deck that if you have a

like the slide deck that if you have a like the slide deck that if you have a sales video that you're passing along to sales video that you're passing along to sales video that you're passing along to customers feel free to put it in there customers feel free to put it in there customers feel free to put it in there and we can use that as we're going and we can use that as we're going and we can use that as we're going through your you know through your you know through your you know add that to our you know uh review add that to our you know uh review add that to our you know uh review uh a recording of a a video with a uh a recording of a a video with a uh a recording of a a video with a customer seems fine with me right customer seems fine with me right customer seems fine with me right there's like there's no reason for it to there's like there's no reason for it to there's like there's no reason for it to be i mean just as long as the customer's be i mean just as long as the customer's be i mean just as long as the customer's data is the customer is aware yeah i data is the customer is aware yeah i data is the customer is aware yeah i mean but we specifically say sales demo mean but we specifically say sales demo mean but we specifically say sales demo not a product walkthrough yeah that's not a product walkthrough yeah that's not a product walkthrough yeah that's true background i mean i think the true background i mean i think the true background i mean i think the original idea for this again i'm not original idea for this again i'm not original idea for this again i'm not even sure we had this in the initial even sure we had this in the initial even sure we had this in the initial application i think people said but i application i think people said but i application i think people said but i have this 90 second explainer video that have this 90 second explainer video that have this 90 second explainer video that i want that's on my website that i want i want that's on my website that i want i want that's on my website that i want to put in here and we let's that i think to put in here and we let's that i think to put in here and we let's that i think is what we had in mind again is what we had in mind again is what we had in mind again if if you don't have one don't don't if if you don't have one don't don't if if you don't have one don't don't record one like your metric should speak record one like your metric should speak record one like your metric should speak for themselves the story is the whole for themselves the story is the whole for themselves the story is the whole rest of the application if you if you rest of the application if you if you rest of the application if you if you have an explainer video or a three have an explainer video or a three have an explainer video or a three minute hey this is our product this is minute hey this is our product this is minute hey this is our product this is what it does throw it in there and and what it does throw it in there and and what it does throw it in there and and we'll you know i do take a look at some we'll you know i do take a look at some we'll you know i do take a look at some of those yeah and some of the reason why of those yeah and some of the reason why of those yeah and some of the reason why taking a look at the reasoning behind taking a look at the reasoning behind taking a look at the reasoning behind that that that is getting an idea for how you are as a is getting an idea for how you are as a is getting an idea for how you are as a salesperson it's not going to be like a salesperson it's not going to be like a salesperson it's not going to be like a it's not going to break your application it's not going to break your application it's not going to break your application depending on how you are it just gives depending on how you are it just gives depending on how you are it just gives us an extra like view into your us an extra like view into your us an extra like view into your personality kind of founder you are but personality kind of founder you are but personality kind of founder you are but it's not something that is crucial for it's not something that is crucial for it's not something that is crucial for your application your application your application users generate revenue using our product users generate revenue using our product users generate revenue using our product we capture a percentage of that they we capture a percentage of that they we capture a percentage of that they don't pay us directly through a don't pay us directly through a don't pay us directly through a subscription subscription subscription would you consider these customers would you consider these customers would you consider these customers yes i would yeah indeed and i would yes i would yeah indeed and i would yes i would yeah indeed and i would consider that revenue that that just the consider that revenue that that just the consider that revenue that that just the percent that you take don't don't list percent that you take don't don't list percent that you take don't don't list the top line was it gmv gross merchant

the top line was it gmv gross merchant the top line was it gmv gross merchant value but list your mrr value but list your mrr value but list your mrr um with a caveat that it's technically um with a caveat that it's technically um with a caveat that it's technically not mrr it's a little spiky because i not mrr it's a little spiky because i not mrr it's a little spiky because i bet month you know one month you might bet month you know one month you might bet month you know one month you might have 500 the next one you have 1500 have 500 the next one you have 1500 have 500 the next one you have 1500 depending on it's you know if it's black depending on it's you know if it's black depending on it's you know if it's black friday it goes up and down list that we friday it goes up and down list that we friday it goes up and down list that we take it into account longer term if you take it into account longer term if you take it into account longer term if you got into tiny seed got into tiny seed got into tiny seed first conversation i would have with you first conversation i would have with you first conversation i would have with you is how can you start charging is how can you start charging is how can you start charging subscription fees because every app that subscription fees because every app that subscription fees because every app that i've seen uh really aside from stripe i've seen uh really aside from stripe i've seen uh really aside from stripe that charges based on a percentage like that charges based on a percentage like that charges based on a percentage like gumroad like uh shopify they all gumroad like uh shopify they all gumroad like uh shopify they all launched with this percentage model and launched with this percentage model and launched with this percentage model and they all now have subscription fees they all now have subscription fees they all now have subscription fees because it's very very very hard to because it's very very very hard to because it's very very very hard to build a business without some type of build a business without some type of build a business without some type of recurring revenue recurring revenue recurring revenue all right and i mean predictable all right and i mean predictable all right and i mean predictable recurring revenue recurring revenue recurring revenue can the startup buy back equity in a few can the startup buy back equity in a few can the startup buy back equity in a few years years years and the answer is there's nothing in our and the answer is there's nothing in our and the answer is there's nothing in our terms that somehow predetermine a price terms that somehow predetermine a price terms that somehow predetermine a price or a multiple um certainly if you got to or a multiple um certainly if you got to or a multiple um certainly if you got to the point where you wanted to buy back the point where you wanted to buy back the point where you wanted to buy back equity you would come to us and we would equity you would come to us and we would equity you would come to us and we would say okay let's figure out what it's say okay let's figure out what it's say okay let's figure out what it's worth and um we could talk about that as worth and um we could talk about that as worth and um we could talk about that as an option the reason we don't have an option the reason we don't have an option the reason we don't have predefined uh equity buyback predefined uh equity buyback predefined uh equity buyback clauses is a it makes the terms and the clauses is a it makes the terms and the clauses is a it makes the terms and the contracts quite um challenging quite contracts quite um challenging quite contracts quite um challenging quite complex and confusing and we've found complex and confusing and we've found complex and confusing and we've found that some of the terms in the kind of that some of the terms in the kind of that some of the terms in the kind of bootstrapper space can actually blow up bootstrapper space can actually blow up bootstrapper space can actually blow up on founders because you don't quite on founders because you don't quite on founders because you don't quite understand how they are because they're understand how they are because they're understand how they are because they're more complicated um and how they will more complicated um and how they will more complicated um and how they will react if you were to say raise a react if you were to say raise a react if you were to say raise a subsequent round without buying back subsequent round without buying back subsequent round without buying back your equity that it multiplies or it

your equity that it multiplies or it your equity that it multiplies or it explodes explodes explodes second thing is second thing is second thing is because if you can buy back your equity because if you can buy back your equity because if you can buy back your equity then isn't this really just a loan like then isn't this really just a loan like then isn't this really just a loan like we we are in your corner for the long we we are in your corner for the long we we are in your corner for the long term and yeah on the accelerated year term and yeah on the accelerated year term and yeah on the accelerated year yep and so we when we buy equity in a yep and so we when we buy equity in a yep and so we when we buy equity in a company like we have companies we funded company like we have companies we funded company like we have companies we funded what three three and a half years ago i what three three and a half years ago i what three three and a half years ago i did i've done two calls in the past did i've done two calls in the past did i've done two calls in the past month i've made two referrals and we've month i've made two referrals and we've month i've made two referrals and we've helped them raise subsequent rounds in helped them raise subsequent rounds in helped them raise subsequent rounds in the past month and so we are in your the past month and so we are in your the past month and so we are in your corner for a long term and if you can corner for a long term and if you can corner for a long term and if you can buy out the equity buy out the equity buy out the equity again it's like probably just if you again it's like probably just if you again it's like probably just if you want to do that do revenue-based want to do that do revenue-based want to do that do revenue-based financing you know if if you don't want financing you know if if you don't want financing you know if if you don't want that uh kind of long-term i viewed as a that uh kind of long-term i viewed as a that uh kind of long-term i viewed as a long-term partnership yeah i was the long-term partnership yeah i was the long-term partnership yeah i was the only thing that changes at the end of only thing that changes at the end of only thing that changes at the end of the accelerator year is that you stopped the accelerator year is that you stopped the accelerator year is that you stopped getting invited to weekly calls but getting invited to weekly calls but getting invited to weekly calls but everything else the one on the everything else the one on the everything else the one on the one-on-one intros to mentors the one-on-one intros to mentors the one-on-one intros to mentors the community the you know chatting with rob community the you know chatting with rob community the you know chatting with rob and adar like all those things stay the and adar like all those things stay the and adar like all those things stay the same same same this next question is a good one today this next question is a good one today this next question is a good one today our product is downloadable software our product is downloadable software our product is downloadable software with our customer portal is our customer with our customer portal is our customer with our customer portal is our customer portal is a web app it is sold as a portal is a web app it is sold as a portal is a web app it is sold as a subscription and we have ideas for a subscription and we have ideas for a subscription and we have ideas for a future version that is 100 hosted does a future version that is 100 hosted does a future version that is 100 hosted does a subscription model qualify for sas even subscription model qualify for sas even subscription model qualify for sas even if the complete software is not hosted if the complete software is not hosted if the complete software is not hosted by us by us by us yes absolutely so that was in the first yes absolutely so that was in the first yes absolutely so that was in the first iteration of chinese the very first iteration of chinese the very first iteration of chinese the very first batch we said we fund subscription batch we said we fund subscription batch we said we fund subscription software that was actually the tagline software that was actually the tagline software that was actually the tagline but you know what but you know what but you know what that's people are confused by that and that's people are confused by that and that's people are confused by that and everyone knows what sas is and so we've everyone knows what sas is and so we've everyone knows what sas is and so we've you know we we changed it to you know we we changed it to you know we we changed it to sas so yes subscription software of any sas so yes subscription software of any sas so yes subscription software of any kind even subscription marketplaces like kind even subscription marketplaces like kind even subscription marketplaces like if you have a two-sided marketplace and

if you have a two-sided marketplace and if you have a two-sided marketplace and you're taking let's say you're taking a you're taking let's say you're taking a you're taking let's say you're taking a a cut of you know deals and you have a a cut of you know deals and you have a a cut of you know deals and you have a subscription component that you want to subscription component that you want to subscription component that you want to add or have already added add or have already added add or have already added we we want to talk to you last time we we want to talk to you last time we we want to talk to you last time i know this last qualify i do want to i know this last qualify i do want to i know this last qualify i do want to say one thing not everyone knows it's us say one thing not everyone knows it's us say one thing not everyone knows it's us i still remember speaking at microconf i still remember speaking at microconf i still remember speaking at microconf 2016 and meeting you rob and you said 2016 and meeting you rob and you said 2016 and meeting you rob and you said you're working on sas right i was like you're working on sas right i was like you're working on sas right i was like yeah and then i ran back to my hotel yeah and then i ran back to my hotel yeah and then i ran back to my hotel room to figure out what sas was room to figure out what sas was room to figure out what sas was there you go yeah it was a sass i just there you go yeah it was a sass i just there you go yeah it was a sass i just wasn't using that term so i just want to wasn't using that term so i just want to wasn't using that term so i just want to say for anyone who's listening to this say for anyone who's listening to this say for anyone who's listening to this that's totally fine that's where i was that's totally fine that's where i was that's totally fine that's where i was as well as well as well will companies in the emea program the will companies in the emea program the will companies in the emea program the europe middle east and asia program need europe middle east and asia program need europe middle east and asia program need to be registered as a us entity to be registered as a us entity to be registered as a us entity folks you are clear you do not need to folks you are clear you do not need to folks you are clear you do not need to register as a u.s entity or incorporate register as a u.s entity or incorporate register as a u.s entity or incorporate in the u.s that is one of the major in the u.s that is one of the major in the u.s that is one of the major bloc challenges that we're um we're bloc challenges that we're um we're bloc challenges that we're um we're trying to remove by starting the program trying to remove by starting the program trying to remove by starting the program so so so i like rob was talking about earlier i like rob was talking about earlier i like rob was talking about earlier we'll want to hear if you already are we'll want to hear if you already are we'll want to hear if you already are incorporated somewhere where that is incorporated somewhere where that is incorporated somewhere where that is work with you but you will not need to work with you but you will not need to work with you but you will not need to uh to worry about that at all uh to worry about that at all uh to worry about that at all do we need to pursue new rounds of do we need to pursue new rounds of do we need to pursue new rounds of funding if we get accepted or is it okay funding if we get accepted or is it okay funding if we get accepted or is it okay to just grow our company to just grow our company to just grow our company this is it this is why we start a tiny this is it this is why we start a tiny this is it this is why we start a tiny seed because every other accelerator is seed because every other accelerator is seed because every other accelerator is 90 day sprint and raise that round and 90 day sprint and raise that round and 90 day sprint and raise that round and it's a failure if you don't raise it it's a failure if you don't raise it it's a failure if you don't raise it nope that's not yes no demo day no nope that's not yes no demo day no nope that's not yes no demo day no nothing feel free to just continue nothing feel free to just continue nothing feel free to just continue working on your business yep totally working on your business yep totally working on your business yep totally fine out of almost 60 i think we funded fine out of almost 60 i think we funded fine out of almost 60 i think we funded 59 companies i believe seven or eight 59 companies i believe seven or eight 59 companies i believe seven or eight have raised maybe nine now have raised

have raised maybe nine now have raised have raised maybe nine now have raised subsequent rounds it is up to them we subsequent rounds it is up to them we subsequent rounds it is up to them we help them do it if they want to the help them do it if they want to the help them do it if they want to the others have not and that's totally okay others have not and that's totally okay others have not and that's totally okay and that's why tiny seed is so different and that's why tiny seed is so different and that's why tiny seed is so different we're awesome yep and there was a we're awesome yep and there was a we're awesome yep and there was a follow-up to that um follow-up to that um follow-up to that um actually it's kind of a related well actually it's kind of a related well actually it's kind of a related well when do we have to open an llc so two when do we have to open an llc so two when do we have to open an llc so two things you can open if you're in the things you can open if you're in the things you can open if you're in the americas you can open an llc or a c corp americas you can open an llc or a c corp americas you can open an llc or a c corp and we recommend delaware but you can and we recommend delaware but you can and we recommend delaware but you can open it wherever you want open it wherever you want open it wherever you want we've had some founders come in where we've had some founders come in where we've had some founders come in where they're still taking their their startup they're still taking their their startup they're still taking their their startup is on the side and they're taking just is on the side and they're taking just is on the side and they're taking just schedule c revenue which just goes schedule c revenue which just goes schedule c revenue which just goes straight to their income tax in essence straight to their income tax in essence straight to their income tax in essence and so we have stripe atlas that we will and so we have stripe atlas that we will and so we have stripe atlas that we will recommend that you use and they can form recommend that you use and they can form recommend that you use and they can form an llc's deal with them yep and it is an llc's deal with them yep and it is an llc's deal with them yep and it is super simple and that's like a great super simple and that's like a great super simple and that's like a great corporate shell and then um you just corporate shell and then um you just corporate shell and then um you just need to work with your lawyer to then need to work with your lawyer to then need to work with your lawyer to then move all of your assets all of the the move all of your assets all of the the move all of your assets all of the the company's assets the trademarks and the company's assets the trademarks and the company's assets the trademarks and the software ownership into that llc or c software ownership into that llc or c software ownership into that llc or c corp so you can do that corp so you can do that corp so you can do that if we you know if we made you an offer if we you know if we made you an offer if we you know if we made you an offer we would make it contingent upon you we would make it contingent upon you we would make it contingent upon you doing that doing that doing that all righty my subscription model is per all righty my subscription model is per all righty my subscription model is per user so my current highest pricing tier user so my current highest pricing tier user so my current highest pricing tier is what highest paying customer is what highest paying customer is what highest paying customer or highest seat price or highest seat price or highest seat price i was i'm paying highest paying customer i was i'm paying highest paying customer i was i'm paying highest paying customer that's what i would do yeah and put a that's what i would do yeah and put a that's what i would do yeah and put a cavity out there cavity out there cavity out there yeah it's again it's it's another thing yeah it's again it's it's another thing yeah it's again it's it's another thing we could dig in with you but yeah we'll we could dig in with you but yeah we'll we could dig in with you but yeah we'll ask questions about that ask questions about that ask questions about that i have an established business funding i have an established business funding i have an established business funding the startup got it so you have a startup the startup got it so you have a startup the startup got it so you have a startup but you have an established business but you have an established business but you have an established business that's that's kind of providing the

that's that's kind of providing the that's that's kind of providing the money for that and all transactions are money for that and all transactions are money for that and all transactions are intermingled oof should i separate that intermingled oof should i separate that intermingled oof should i separate that out before applying out before applying out before applying you should not before applying but you you should not before applying but you you should not before applying but you probably shouldn't separate it out for probably shouldn't separate it out for probably shouldn't separate it out for anybody i mean if you ever wanted to anybody i mean if you ever wanted to anybody i mean if you ever wanted to sell that if you ever want to get sell that if you ever want to get sell that if you ever want to get funding for it you're going to need to funding for it you're going to need to funding for it you're going to need to do that eventually so i mean you know do that eventually so i mean you know do that eventually so i mean you know look applications are open for the next look applications are open for the next look applications are open for the next 10 days or 12 days so apply 10 days or 12 days so apply 10 days or 12 days so apply and then i would say whether we whether and then i would say whether we whether and then i would say whether we whether you get a chinese seed or not because you get a chinese seed or not because you get a chinese seed or not because i've done this before and i had to i've done this before and i had to i've done this before and i had to separate the businesses and it was a separate the businesses and it was a separate the businesses and it was a really a much better decision really a much better decision really a much better decision yeah and i will say that there are folks yeah and i will say that there are folks yeah and i will say that there are folks who are in tennessee who had to do that who are in tennessee who had to do that who are in tennessee who had to do that yep there was at least a couple um who yep there was at least a couple um who yep there was at least a couple um who went through that like we sent them an went through that like we sent them an went through that like we sent them an offer they accepted the offer but then offer they accepted the offer but then offer they accepted the offer but then they had to you know work on they had to you know work on they had to you know work on i guess you don't get the investment i guess you don't get the investment i guess you don't get the investment money until everything is set up money until everything is set up money until everything is set up correctly but they can start the program correctly but they can start the program correctly but they can start the program because that process can take a long because that process can take a long because that process can take a long time they can start the program um while time they can start the program um while time they can start the program um while they're doing that all right is there a minimum and maximum all right is there a minimum and maximum percent of equity that you are looking percent of equity that you are looking percent of equity that you are looking for yeah so the the chinese terms go to for yeah so the the chinese terms go to for yeah so the the chinese terms go to chinese.com chinese.com chinese.com faq and we fund one hundred and twenty faq and we fund one hundred and twenty faq and we fund one hundred and twenty thousand dollars for the first founder thousand dollars for the first founder thousand dollars for the first founder 180 for two 180 for two 180 for two and 220 for three and we take between and 220 for three and we take between and 220 for three and we take between ten and twelve percent equity based on a ten and twelve percent equity based on a ten and twelve percent equity based on a number of factors um we have funded number of factors um we have funded number of factors um we have funded companies between about 1000 mrr and a companies between about 1000 mrr and a companies between about 1000 mrr and a hundred thousand mrr through tiny seed hundred thousand mrr through tiny seed hundred thousand mrr through tiny seed and so um there obviously is as you get and so um there obviously is as you get and so um there obviously is as you get towards that hundred thousand mri there towards that hundred thousand mri there towards that hundred thousand mri there is some you know a bit more negotiation is some you know a bit more negotiation is some you know a bit more negotiation that happens but these days i think if that happens but these days i think if that happens but these days i think if you're over 50 or 60 you probably want

you're over 50 or 60 you probably want you're over 50 or 60 you probably want to look at the tiny seed syndicate maybe to look at the tiny seed syndicate maybe to look at the tiny seed syndicate maybe more than the accelerator but it depends more than the accelerator but it depends more than the accelerator but it depends on what you want if you really want the on what you want if you really want the on what you want if you really want the accelerator experience we would happily accelerator experience we would happily accelerator experience we would happily happily fund companies in that range happily fund companies in that range happily fund companies in that range i think we have two minutes left i think we have two minutes left i think we have two minutes left highlighted one two minutes highlighted one two minutes highlighted one two minutes three questions all right yeah i'll do three questions all right yeah i'll do three questions all right yeah i'll do the highlighted a potential competitor the highlighted a potential competitor the highlighted a potential competitor is a member of yours already does that is a member of yours already does that is a member of yours already does that pose a conflict of interest pose a conflict of interest pose a conflict of interest that is a great question uh we you know that is a great question uh we you know that is a great question uh we you know we know that we are going to be funding we know that we are going to be funding we know that we are going to be funding competitors and we try not to do competitors and we try not to do competitors and we try not to do competitors within the same batch um competitors within the same batch um competitors within the same batch um that's so that's so that's so but it's but it's but it's if there's a if it's a previous batch if there's a if it's a previous batch if there's a if it's a previous batch absolutely no problem you're absolutely no problem you're absolutely no problem you're um you still have access to your own um you still have access to your own um you still have access to your own accelerator program accelerator program accelerator program your own your own your own like cohort can be like cohort can be like cohort can be you can keep things to a decor cohort you can keep things to a decor cohort you can keep things to a decor cohort trying to figure out the best way to say trying to figure out the best way to say trying to figure out the best way to say this but essentially it's like it's it this but essentially it's like it's it this but essentially it's like it's it doesn't pose a conflict of interest we doesn't pose a conflict of interest we doesn't pose a conflict of interest we will be funding competitors um through will be funding competitors um through will be funding competitors um through the life of tennessee just because due the life of tennessee just because due the life of tennessee just because due to the number of people that we're to the number of people that we're to the number of people that we're refunding and we will try to work with refunding and we will try to work with refunding and we will try to work with you to make sure that there's not gonna you to make sure that there's not gonna you to make sure that there's not gonna be any kind of potential conflicts of be any kind of potential conflicts of be any kind of potential conflicts of interest between you and that person if interest between you and that person if interest between you and that person if you have an offer for chinese seed you have an offer for chinese seed you have an offer for chinese seed well said well said well said that's a great question though yeah that's a great question though yeah that's a great question though yeah it's definitely something where you know it's definitely something where you know it's definitely something where you know in the first three years of the program in the first three years of the program in the first three years of the program i was like cool we'd have to worry about i was like cool we'd have to worry about i was like cool we'd have to worry about this and now we're at this point we're this and now we're at this point we're this and now we're at this point we're like okay cool we have to you know we've like okay cool we have to you know we've like okay cool we have to you know we've gone big enough now this is uh this is a gone big enough now this is uh this is a gone big enough now this is uh this is a good question we knew it would happen good question we knew it would happen good question we knew it would happen yep how do how do profit distributions yep how do how do profit distributions yep how do how do profit distributions work and this is an element that of the work and this is an element that of the work and this is an element that of the tiny sea terms is venture capitalists tiny sea terms is venture capitalists tiny sea terms is venture capitalists don't fund llc's they don't want profit don't fund llc's they don't want profit don't fund llc's they don't want profit distributions tiny seed allows you if distributions tiny seed allows you if distributions tiny seed allows you if you want to grow your business for the

you want to grow your business for the you want to grow your business for the long term and just take cash out of the long term and just take cash out of the long term and just take cash out of the business then you can do that the way it business then you can do that the way it business then you can do that the way it works is let's say tinyseed purchases works is let's say tinyseed purchases works is let's say tinyseed purchases you know 12 of your company for x amount you know 12 of your company for x amount you know 12 of your company for x amount you you you as the founder can take a salary up to a as the founder can take a salary up to a as the founder can take a salary up to a quarter million dollars before you have quarter million dollars before you have quarter million dollars before you have to pay tiny seed anything quarter to pay tiny seed anything quarter to pay tiny seed anything quarter million a year then if you pull any million a year then if you pull any million a year then if you pull any additional money out of the business additional money out of the business additional money out of the business that is classified as a dividend or an that is classified as a dividend or an that is classified as a dividend or an owner's draw and tiny seed if we own 12 owner's draw and tiny seed if we own 12 owner's draw and tiny seed if we own 12 percent gets 12 percent of that so in a percent gets 12 percent of that so in a percent gets 12 percent of that so in a year if you pulled out a hundred year if you pulled out a hundred year if you pulled out a hundred thousand dollars and it pulled out 350 thousand dollars and it pulled out 350 thousand dollars and it pulled out 350 for then we would get 12 000 and you for then we would get 12 000 and you for then we would get 12 000 and you would get would get would get 350 minus 12 000. what is that that math on the fly but that's the basics math on the fly but that's the basics it's pro rata we have equity so it's it's pro rata we have equity so it's it's pro rata we have equity so it's just a simple that's why we decided to just a simple that's why we decided to just a simple that's why we decided to go with equities the terms are so simple go with equities the terms are so simple go with equities the terms are so simple and they're so easy to understand and they're so easy to understand and they're so easy to understand there's not a bunch of if-then-else there's not a bunch of if-then-else there's not a bunch of if-then-else statements there statements there statements there and it also allows us not to you know and it also allows us not to you know and it also allows us not to you know other people other vcs they need you to other people other vcs they need you to other people other vcs they need you to do that additional arrays of that do the do that additional arrays of that do the do that additional arrays of that do the sell or not so in order to have that as sell or not so in order to have that as sell or not so in order to have that as a a a positive impact and this allows us to positive impact and this allows us to positive impact and this allows us to work with bootstrappers who want to just work with bootstrappers who want to just work with bootstrappers who want to just continue working post tiny scene yep continue working post tiny scene yep continue working post tiny scene yep awesome that we are about to wrap that awesome that we are about to wrap that awesome that we are about to wrap that we have two questions left and i think we have two questions left and i think we have two questions left and i think the answer is the same to both of them the answer is the same to both of them the answer is the same to both of them so the first question is do we need to so the first question is do we need to so the first question is do we need to have a working product with customers have a working product with customers have a working product with customers our app will be ready in about six weeks our app will be ready in about six weeks our app will be ready in about six weeks although we have a demo video the answer although we have a demo video the answer although we have a demo video the answer is you should have people paying you for is you should have people paying you for is you should have people paying you for this before you apply second question this before you apply second question this before you apply second question live for a second one yep yeah six live for a second one yep yeah six live for a second one yep yeah six months from now we'll have another one months from now we'll have another one months from now we'll have another one you should be in a better spot then the you should be in a better spot then the you should be in a better spot then the second question i run a one-man services

second question i run a one-man services second question i run a one-man services company it's it training profitable but company it's it training profitable but company it's it training profitable but not recurring and i'm about to launch a not recurring and i'm about to launch a not recurring and i'm about to launch a subscription model for self-service subscription model for self-service subscription model for self-service training should i wait training should i wait training should i wait for the next batch the answer is yes you for the next batch the answer is yes you for the next batch the answer is yes you should wait if you don't have recurring should wait if you don't have recurring should wait if you don't have recurring revenue coming in revenue coming in revenue coming in just hold off every six months it's easy just hold off every six months it's easy just hold off every six months it's easy we'll still be here we'll still be here we'll still be here we'll still be here we'll still be here we'll still be here writing checks writing checks writing checks awesome well thanks we did it yeah we awesome well thanks we did it yeah we awesome well thanks we did it yeah we need to and this time we got through all need to and this time we got through all need to and this time we got through all the questions only one minute late don't the questions only one minute late don't the questions only one minute late don't you dare answer and add another question you dare answer and add another question you dare answer and add another question to this document producer to this document producer to this document producer yeah his fingers are itching i know he yeah his fingers are itching i know he yeah his fingers are itching i know he wants to do it just for anyone who wants to do it just for anyone who wants to do it just for anyone who missed who wants to review this missed who wants to review this missed who wants to review this afterwards i will take this recording afterwards i will take this recording afterwards i will take this recording putting it be putting it up on putting it be putting it up on putting it be putting it up on tinyseed.com tinyseed.com tinyseed.com latest uh tomorrow morning and it should latest uh tomorrow morning and it should latest uh tomorrow morning and it should be i believe should be on youtube pretty be i believe should be on youtube pretty be i believe should be on youtube pretty immediately because it's live it's being immediately because it's live it's being immediately because it's live it's being livestreamed on youtube so i'm pretty livestreamed on youtube so i'm pretty livestreamed on youtube so i'm pretty sure that'll be up as of today sure that'll be up as of today sure that'll be up as of today yeah and thanks everybody for joining us yeah and thanks everybody for joining us yeah and thanks everybody for joining us again i am rob walling and we look again i am rob walling and we look again i am rob walling and we look forward to receiving any of your forward to receiving any of your forward to receiving any of your questions you can obviously hit the questions you can obviously hit the questions you can obviously hit the tinyseed site or hello at tinyc.com and tinyseed site or hello at tinyc.com and tinyseed site or hello at tinyc.com and tracy or alex will respond thanks tracy tracy or alex will respond thanks tracy tracy or alex will respond thanks tracy and alex for hanging out with me for and alex for hanging out with me for and alex for hanging out with me for this hour yeah this hour yeah this hour yeah awesome awesome awesome thanks everybody thanks everybody thanks everybody we are out bye