TinySeed Fall 2021 SaaS Accelerator Application Info Session

but uh it's really exciting i'm really but uh it's really exciting i'm really excited about being able to excited about being able to excited about being able to work with more companies i'm really work with more companies i'm really work with more companies i'm really excited about expanding tennessee excited about expanding tennessee excited about expanding tennessee um like having like multiple rounds at um like having like multiple rounds at um like having like multiple rounds at once it's going to be an interesting once it's going to be an interesting once it's going to be an interesting challenge to try to see how that goes challenge to try to see how that goes challenge to try to see how that goes uh so a lot of this just kind of like uh so a lot of this just kind of like uh so a lot of this just kind of like what's gonna happen we're gonna we're what's gonna happen we're gonna we're what's gonna happen we're gonna we're planning as much as possible but you planning as much as possible but you planning as much as possible but you know it's also being aware that you know it's also being aware that you know it's also being aware that you could plan all you want could plan all you want could plan all you want um and then uh we just had to see how um and then uh we just had to see how um and then uh we just had to see how things happen i'm very excited for the things happen i'm very excited for the things happen i'm very excited for the future year and i think it's gonna be future year and i think it's gonna be future year and i think it's gonna be awesome awesome awesome yeah it's like any other startup you yeah it's like any other startup you yeah it's like any other startup you know a lot of a lot of the stuff we do know a lot of a lot of the stuff we do know a lot of a lot of the stuff we do are are are tested experiments based on um some tested experiments based on um some tested experiments based on um some intuition but also some information we intuition but also some information we intuition but also some information we have because you know we have because you know we have because you know we we never overlapped six months but our we never overlapped six months but our we never overlapped six months but our first program overlapped first program overlapped first program overlapped two months with the second year and our two months with the second year and our two months with the second year and our second one i believe overlapped a month second one i believe overlapped a month second one i believe overlapped a month due to covert or something so we due to covert or something so we due to covert or something so we we have had overlap um before wait host we have had overlap um before wait host we have had overlap um before wait host there's a there's a poll up but hosting there's a there's a poll up but hosting there's a there's a poll up but hosting panelists can't vote i was just panelists can't vote i was just panelists can't vote i was just i was just about to vote i'm curious i was just about to vote i'm curious i was just about to vote i'm curious what would you answer rob what part of what would you answer rob what part of what would you answer rob what part of the accelerator program is most valuable the accelerator program is most valuable the accelerator program is most valuable to you to you to you single choice mentorship community or single choice mentorship community or single choice mentorship community or funding well i'm not going to say it yet funding well i'm not going to say it yet funding well i'm not going to say it yet because it'll it'll stuff the ballot box because it'll it'll stuff the ballot box because it'll it'll stuff the ballot box right that's true right that's true right that's true that's the answer yeah i'm curious once that's the answer yeah i'm curious once that's the answer yeah i'm curious once once we see it uh once we see it uh once we see it uh the responses i'm curious for us to the responses i'm curious for us to the responses i'm curious for us to weigh in weigh in weigh in all right i feel like um things are good all right i feel like um things are good all right i feel like um things are good and we should probably get rolling we're and we should probably get rolling we're and we should probably get rolling we're a couple minutes in so a couple minutes in so a couple minutes in so welcome everyone to this tiny seed welcome everyone to this tiny seed welcome everyone to this tiny seed information information information session it's great to have you here and session it's great to have you here and session it's great to have you here and you know this will be recorded you know this will be recorded you know this will be recorded and on youtube for folks who may not be and on youtube for folks who may not be and on youtube for folks who may not be able to make the entire thing or if you

able to make the entire thing or if you able to make the entire thing or if you know of a know of a know of a friend or founder who's considering you friend or founder who's considering you friend or founder who's considering you know who couldn't make it um know who couldn't make it um know who couldn't make it um it'd be great if you'd pass this along i it'd be great if you'd pass this along i it'd be great if you'd pass this along i am rob walling i'm the co-founder of am rob walling i'm the co-founder of am rob walling i'm the co-founder of tinyseed and the co-founder of tinyseed and the co-founder of tinyseed and the co-founder of microconf and the host of startups for microconf and the host of startups for microconf and the host of startups for the rest of us and the rest of us and the rest of us and i'm really excited to chat through some i'm really excited to chat through some i'm really excited to chat through some questions today questions today questions today and to my right is tracy osborne she is and to my right is tracy osborne she is and to my right is tracy osborne she is tracymakes on twitter tracy you want to tracymakes on twitter tracy you want to tracymakes on twitter tracy you want to give yourself a give yourself a give yourself a couple sentence bio there yeah hi couple sentence bio there yeah hi couple sentence bio there yeah hi everyone i well as mentioned i'm tracy everyone i well as mentioned i'm tracy everyone i well as mentioned i'm tracy i'm the program director of tennessee so i'm the program director of tennessee so i'm the program director of tennessee so i kind of run the day-to-day operations i kind of run the day-to-day operations i kind of run the day-to-day operations of the program and kind of keep of the program and kind of keep of the program and kind of keep everything rolling and everything rolling and everything rolling and on time and the lead person for on time and the lead person for on time and the lead person for questions and helping offenders out questions and helping offenders out questions and helping offenders out and kind of booking events and all that and kind of booking events and all that and kind of booking events and all that kind of jazz kind of jazz kind of jazz um previously i ran a startup called um previously i ran a startup called um previously i ran a startup called wedding lovely um wedding lovely um wedding lovely um which was shut down after like eight or which was shut down after like eight or which was shut down after like eight or nine or so years that's a whole story nine or so years that's a whole story nine or so years that's a whole story there's a microconf um there's a microconf um there's a microconf um talk i did on that on that story uh but talk i did on that on that story uh but talk i did on that on that story uh but i love i love i love entrepreneurship i'm also a author entrepreneurship i'm also a author entrepreneurship i'm also a author self-published author of one book and self-published author of one book and self-published author of one book and then i'm also then i'm also then i'm also um my most recent book hello web design um my most recent book hello web design um my most recent book hello web design has come out has come out has come out uh was published by no search press and uh was published by no search press and uh was published by no search press and came out a couple months ago came out a couple months ago came out a couple months ago so do a little bit of everything but the so do a little bit of everything but the so do a little bit of everything but the day-to-day job is running the day-to-day job is running the day-to-day job is running the accelerator program accelerator program accelerator program and keeping basically all the trainings and keeping basically all the trainings and keeping basically all the trainings running on time running on time running on time very good and last year when we were very good and last year when we were very good and last year when we were going to do this information session you going to do this information session you going to do this information session you know we we blocked out an hour for it i know we we blocked out an hour for it i know we we blocked out an hour for it i remember we were a little panicked that remember we were a little panicked that remember we were a little panicked that maybe we're only going to get like four maybe we're only going to get like four maybe we're only going to get like four questions and run to 20 minutes and then questions and run to 20 minutes and then questions and run to 20 minutes and then run out um run out um run out um and last year at you know 59 59 we were and last year at you know 59 59 we were and last year at you know 59 59 we were still still still frantically asking questions so i don't

frantically asking questions so i don't frantically asking questions so i don't want to belabor uh want to belabor uh want to belabor uh you know too much upfront information you know too much upfront information you know too much upfront information but um but um but um so i'm going to assume that folks who so i'm going to assume that folks who so i'm going to assume that folks who are on this have had minimum are on this have had minimum are on this have had minimum read you know through at least part of read you know through at least part of read you know through at least part of the chinese faq that they understand the chinese faq that they understand the chinese faq that they understand that that that you know our terms are 120 000 for the you know our terms are 120 000 for the you know our terms are 120 000 for the first founder first founder first founder 60 000 for the second 40 000 for the 60 000 for the second 40 000 for the 60 000 for the second 40 000 for the third for between 10 and 12 third for between 10 and 12 third for between 10 and 12 equity depending on the stage your equity depending on the stage your equity depending on the stage your company so those are the investment company so those are the investment company so those are the investment terms but tracy you want to give folks terms but tracy you want to give folks terms but tracy you want to give folks an overview an overview an overview you know really of what the what tiny you know really of what the what tiny you know really of what the what tiny tinyc does for people what the tinyc does for people what the tinyc does for people what the accelerator year looks like just what accelerator year looks like just what accelerator year looks like just what the program offers because funding is the program offers because funding is the program offers because funding is is not only i i would say not only a is not only i i would say not only a is not only i i would say not only a part of it but it's a small part of it part of it but it's a small part of it part of it but it's a small part of it you know a lot of companies that come you know a lot of companies that come you know a lot of companies that come into tiny seed don't need the funding into tiny seed don't need the funding into tiny seed don't need the funding and it's more for and it's more for and it's more for all the other stuff that tracy is about all the other stuff that tracy is about all the other stuff that tracy is about to talk about yeah like tiny seed to talk about yeah like tiny seed to talk about yeah like tiny seed the funding is nice but um we uh the funding is nice but um we uh the funding is nice but um we uh we're not just investors like we really we're not just investors like we really we're not just investors like we really believe in the accelerated moderate believe in the accelerated moderate believe in the accelerated moderate remodel we really want to spend remodel we really want to spend remodel we really want to spend the accelerator year the people are in the accelerator year the people are in the accelerator year the people are in the program to the program to the program to to take them what is it that you say rob to take them what is it that you say rob to take them what is it that you say rob escape velocity i like using that term escape velocity i like using that term escape velocity i like using that term taken to escape velocity you know taken to escape velocity you know taken to escape velocity you know you're already going up and we want to you're already going up and we want to you're already going up and we want to just accelerate that curve just accelerate that curve just accelerate that curve so it's a year-long program so it's a year-long program so it's a year-long program when people start the program we start when people start the program we start when people start the program we start off with the first three months of what off with the first three months of what off with the first three months of what we call the thai ac playbook we call the thai ac playbook we call the thai ac playbook so we are devoted to sas so we are devoted to sas so we are devoted to sas we are very focused on sas and the we are very focused on sas and the we are very focused on sas and the playbook is playbook is playbook is the thai seats teams opinionated advice the thai seats teams opinionated advice the thai seats teams opinionated advice on some of the biggest on some of the biggest on some of the biggest topics that affect most businesses that topics that affect most businesses that topics that affect most businesses that we fund

we fund we fund um that we fund so things like pricing um that we fund so things like pricing um that we fund so things like pricing and and and um let's see onboarding and we do some um let's see onboarding and we do some um let's see onboarding and we do some design sessions design sessions design sessions and we have things on m a and and we have things on m a and and we have things on m a and fundraising so the first third of the fundraising so the first third of the fundraising so the first third of the program we're selling is basically like program we're selling is basically like program we're selling is basically like education and then we roll into bringing education and then we roll into bringing education and then we roll into bringing on mentors on mentors on mentors we have some of the best mentors in sas we have some of the best mentors in sas we have some of the best mentors in sas as a part of tennessee we have both as a part of tennessee we have both as a part of tennessee we have both experienced founders experienced founders experienced founders like uh the base camp folks rand fishkin like uh the base camp folks rand fishkin like uh the base camp folks rand fishkin of moz of moz of moz and uh spark toro uh laura roeder of and uh spark toro uh laura roeder of and uh spark toro uh laura roeder of um uh laura thor ritter is um uh laura thor ritter is um uh laura thor ritter is magical about me meet edgar no meet magical about me meet edgar no meet magical about me meet edgar no meet edgar okay sorry paper bill edgar okay sorry paper bill edgar okay sorry paper bill paper bell that's what it was yes paper paper bell that's what it was yes paper paper bell that's what it was yes paper bell and we also have subject matter bell and we also have subject matter bell and we also have subject matter experts like april dunford for experts like april dunford for experts like april dunford for positioning positioning positioning um and uh uh samuel hulick for um and uh uh samuel hulick for um and uh uh samuel hulick for uh onboarding so we have a like a whole uh onboarding so we have a like a whole uh onboarding so we have a like a whole roster of mentors roster of mentors roster of mentors we bring those in for mentor meetings we bring those in for mentor meetings we bring those in for mentor meetings throughout the year we do q and a's with throughout the year we do q and a's with throughout the year we do q and a's with them people get like 101 to help with them people get like 101 to help with them people get like 101 to help with these mentors these mentors these mentors we also have a slack group you know we we also have a slack group you know we we also have a slack group you know we have a little online community have a little online community have a little online community um hopefully this year we are gonna be um hopefully this year we are gonna be um hopefully this year we are gonna be doing in-person retreat so people can doing in-person retreat so people can doing in-person retreat so people can get together in person and get together in person and get together in person and we can do a little bit of work a little we can do a little bit of work a little we can do a little bit of work a little bit of play together and kind of form bit of play together and kind of form bit of play together and kind of form the connections between all the people the connections between all the people the connections between all the people who are in the accelerator program who are in the accelerator program who are in the accelerator program uh anything else i'm missing in terms of uh anything else i'm missing in terms of uh anything else i'm missing in terms of the program the program the program no i mean that's those are the the no i mean that's those are the the no i mean that's those are the the details of it i think you know details of it i think you know details of it i think you know the the high level is it's funding it's the the high level is it's funding it's the the high level is it's funding it's mentorship and advising mentorship and advising mentorship and advising and it's a incredibly strong network and and it's a incredibly strong network and and it's a incredibly strong network and kind of anything you want to do we know kind of anything you want to do we know kind of anything you want to do we know people who have done it

people who have done it people who have done it or who can give you advice on it or whom or who can give you advice on it or whom or who can give you advice on it or whom you can you know we have vetted you can you know we have vetted you can you know we have vetted resources that you can hire and then resources that you can hire and then resources that you can hire and then it's the community it's a super tight it's the community it's a super tight it's the community it's a super tight knit community i mean much like y knit community i mean much like y knit community i mean much like y combinator before us combinator before us combinator before us where you'll hear founders go in there where you'll hear founders go in there where you'll hear founders go in there saying they saying they saying they they found more value from the actual they found more value from the actual they found more value from the actual community than other aspects community than other aspects community than other aspects of it and we you know with this batch of it and we you know with this batch of it and we you know with this batch this is our fourth batch we're funding this is our fourth batch we're funding this is our fourth batch we're funding we're going to be north of 60 companies we're going to be north of 60 companies we're going to be north of 60 companies funded and these are ambitious funded and these are ambitious funded and these are ambitious b2b sas startups you know in the six b2b sas startups you know in the six b2b sas startups you know in the six and seven figures of annual recurring and seven figures of annual recurring and seven figures of annual recurring revenue and they're all they're not revenue and they're all they're not revenue and they're all they're not venture track venture track venture track they're not looking to you know become they're not looking to you know become they're not looking to you know become billion dollar companies so they're just billion dollar companies so they're just billion dollar companies so they're just like you you know like you in the in the like you you know like you in the in the like you you know like you in the in the audience who's watching this and audience who's watching this and audience who's watching this and there aren't i don't know of another there aren't i don't know of another there aren't i don't know of another place you know microconf and tinyseed place you know microconf and tinyseed place you know microconf and tinyseed microcomp became kind of the the microcomp became kind of the the microcomp became kind of the the worldwide hub for that and tiny seed is worldwide hub for that and tiny seed is worldwide hub for that and tiny seed is the fund and the accelerator for that the fund and the accelerator for that the fund and the accelerator for that and so that's and so that's and so that's if that's your track like it's it's the if that's your track like it's it's the if that's your track like it's it's the place to be place to be place to be all right we already have questions all right we already have questions all right we already have questions poured in which is great um poured in which is great um poured in which is great um goenka sorry about your name my goenka sorry about your name my goenka sorry about your name my pronunciation i'm sure i'm pronunciation i'm sure i'm pronunciation i'm sure i'm might be guanka um can we be a part of might be guanka um can we be a part of might be guanka um can we be a part of tinyseed for the mentorship in the tinyseed for the mentorship in the tinyseed for the mentorship in the community without accepting investment community without accepting investment community without accepting investment or selling equity or selling equity or selling equity raising money is not our primary raising money is not our primary raising money is not our primary objective due to the stage we're at with objective due to the stage we're at with objective due to the stage we're at with our company and i think as i said before our company and i think as i said before our company and i think as i said before i mean i mean i mean i guess i didn't mention numbers but in i guess i didn't mention numbers but in i guess i didn't mention numbers but in our last our last our last batch about 75 to 80 of the companies batch about 75 to 80 of the companies batch about 75 to 80 of the companies didn't actually need the money they didn't actually need the money they didn't actually need the money they didn't do it for the money they didn't do it for the money they didn't do it for the money they were in that 30 to 100 000 mrr range were in that 30 to 100 000 mrr range were in that 30 to 100 000 mrr range they didn't need they didn't need they didn't need our 120k they did it for the mentorship our 120k they did it for the mentorship our 120k they did it for the mentorship for the community for the community for the community for the network for all the other things

for the network for all the other things for the network for all the other things that you're looking for so the answer is that you're looking for so the answer is that you're looking for so the answer is no we can't we're we're not a non-profit no we can't we're we're not a non-profit no we can't we're we're not a non-profit you know we can't provide the mentorship you know we can't provide the mentorship you know we can't provide the mentorship and the network and all that and the network and all that and the network and all that for no equity because there would be no for no equity because there would be no for no equity because there would be no we would be out of business next year we would be out of business next year we would be out of business next year right um so right um so right um so that's that uh paul loeb has a question that's that uh paul loeb has a question that's that uh paul loeb has a question i read on the website the funding can be i read on the website the funding can be i read on the website the funding can be used to pay the founder's salary at a used to pay the founder's salary at a used to pay the founder's salary at a rate of a typical software engineer rate of a typical software engineer rate of a typical software engineer hmm however that amount is guaranteed to hmm however that amount is guaranteed to hmm however that amount is guaranteed to be greater than 120k be greater than 120k be greater than 120k how does this work tracy so a we need to how does this work tracy so a we need to how does this work tracy so a we need to update yes so there is our old terms update yes so there is our old terms update yes so there is our old terms it's been updated uh it was insubmitable it's been updated uh it was insubmitable it's been updated uh it was insubmitable it snuck into the description for the it snuck into the description for the it snuck into the description for the last last last last forum so i updated that this last forum so i updated that this last forum so i updated that this morning we've updated our terms so morning we've updated our terms so morning we've updated our terms so the salary cap is no longer set at a the salary cap is no longer set at a the salary cap is no longer set at a software engineers salary in the closest software engineers salary in the closest software engineers salary in the closest city that was too nebulous it was too city that was too nebulous it was too city that was too nebulous it was too hard to kind of figure out every city hard to kind of figure out every city hard to kind of figure out every city and there's lots of situations and and there's lots of situations and and there's lots of situations and whatnot whatnot whatnot so we've actually updated the salary cap so we've actually updated the salary cap so we've actually updated the salary cap across the board for every previous across the board for every previous across the board for every previous company and future company to company and future company to company and future company to 250 000 u.s dollars um so that's a quite 250 000 u.s dollars um so that's a quite 250 000 u.s dollars um so that's a quite a high salary obviously a high salary obviously a high salary obviously it's not a salary or setting is a salary it's not a salary or setting is a salary it's not a salary or setting is a salary cap so your salary can be anywhere below cap so your salary can be anywhere below cap so your salary can be anywhere below 250 000 u.s dollars um when you reach 250 000 u.s dollars um when you reach 250 000 u.s dollars um when you reach the point the point the point of that you know that salary and you of that you know that salary and you of that you know that salary and you know you're know you're know you're sorry if it's successful enough that you sorry if it's successful enough that you sorry if it's successful enough that you want to pay yourself more then you can want to pay yourself more then you can want to pay yourself more then you can issue dividends and that's kind of how issue dividends and that's kind of how issue dividends and that's kind of how tennessee will share um in that in your tennessee will share um in that in your tennessee will share um in that in your business business business at that point because we would receive a at that point because we would receive a at that point because we would receive a share of those dividends because it's share of those dividends because it's share of those dividends because it's based on the um percentage of um

based on the um percentage of um based on the um percentage of um ownership so 250 000 ownership so 250 000 ownership so 250 000 hopefully that's large enough for anyone hopefully that's large enough for anyone hopefully that's large enough for anyone for quite a few years and for quite a few years and for quite a few years and you know not hit that cap um and then you know not hit that cap um and then you know not hit that cap um and then that cap exists so that cap exists so that cap exists so that the dividends get issued at some that the dividends get issued at some that the dividends get issued at some point for tennessee point for tennessee point for tennessee yeah and for reference at the venture yeah and for reference at the venture yeah and for reference at the venture funded startups that i've been a part of funded startups that i've been a part of funded startups that i've been a part of or or or know of usually 250k is what the ceo and know of usually 250k is what the ceo and know of usually 250k is what the ceo and the coo make after they've raised five the coo make after they've raised five the coo make after they've raised five or 10 million so or 10 million so or 10 million so should be plenty for everyone um i think should be plenty for everyone um i think should be plenty for everyone um i think paul's question is he says you know paul's question is he says you know paul's question is he says you know you're saying that you have a cap i like you're saying that you have a cap i like you're saying that you have a cap i like tracy that you introduced that word cap tracy that you introduced that word cap tracy that you introduced that word cap it doesn't mean you have to pay yourself it doesn't mean you have to pay yourself it doesn't mean you have to pay yourself this we have founders in our program who this we have founders in our program who this we have founders in our program who live very inexpensively who pay live very inexpensively who pay live very inexpensively who pay themselves two or three thousand dollars themselves two or three thousand dollars themselves two or three thousand dollars a month a month a month and all the rest they're investing back and all the rest they're investing back and all the rest they're investing back in their business and it gives them a in their business and it gives them a in their business and it gives them a ton of runway ton of runway ton of runway we have some other founders who have we have some other founders who have we have some other founders who have higher burn and personal burn and so higher burn and personal burn and so higher burn and personal burn and so they they they pay themselves i don't know that pay themselves i don't know that pay themselves i don't know that anyone's paying themselves a cap right anyone's paying themselves a cap right anyone's paying themselves a cap right now but people are approaching that now but people are approaching that now but people are approaching that and to paul's question um and to paul's question um and to paul's question um we give 120 000 in funding but what if we give 120 000 in funding but what if we give 120 000 in funding but what if you give yourself 250 you give yourself 250 you give yourself 250 salary well you're gonna burn through salary well you're gonna burn through salary well you're gonna burn through your money in six months then unless you your money in six months then unless you your money in six months then unless you have revenue that's the idea right have revenue that's the idea right have revenue that's the idea right that's why that's why that's why you know we're not expecting you to have you know we're not expecting you to have you know we're not expecting you to have zero mrr zero mrr zero mrr uh when you apply so you're a founder uh when you apply so you're a founder uh when you apply so you're a founder and you make the choice of what you pay and you make the choice of what you pay and you make the choice of what you pay yourself but yourself but yourself but we will give you advice and and you know we will give you advice and and you know we will give you advice and and you know if you're if you're burning 15 or 20 if you're if you're burning 15 or 20 if you're if you're burning 15 or 20 000 a month and you have no employees 000 a month and you have no employees 000 a month and you have no employees like that's you're not going to last like that's you're not going to last like that's you're not going to last very long so you just have to use you very long so you just have to use you very long so you just have to use you know use your sense in terms of running know use your sense in terms of running know use your sense in terms of running running your business running your business running your business muhammad abu shanab says i do muhammad abu shanab says i do muhammad abu shanab says i do have already raised pre-seed funding have already raised pre-seed funding have already raised pre-seed funding so am i eligible to apply i'm based in so am i eligible to apply i'm based in so am i eligible to apply i'm based in the uk and looking to move myself

the uk and looking to move myself the uk and looking to move myself with the startup to the united states with the startup to the united states with the startup to the united states so the answer is it depends so the answer is it depends so the answer is it depends on what form your preceded funding has on what form your preceded funding has on what form your preceded funding has taken um taken um taken um if someone has purchased equity at a if someone has purchased equity at a if someone has purchased equity at a certain valuation certain valuation certain valuation then we will we our terms are then we will we our terms are then we will we our terms are they're pretty standard and we will they're pretty standard and we will they're pretty standard and we will purchase at purchase at purchase at our valuation and so if you're prior our valuation and so if you're prior our valuation and so if you're prior investors and you are okay with our investors and you are okay with our investors and you are okay with our valuation valuation valuation great that works if you have raised a great that works if you have raised a great that works if you have raised a safe or convertible note safe or convertible note safe or convertible note that converts at a future funding round that converts at a future funding round that converts at a future funding round we are a priced round we are a priced round we are a priced round so again you and your investors would so again you and your investors would so again you and your investors would have to be okay with conver without have to be okay with conver without have to be okay with conver without equity converting at our price equity converting at our price equity converting at our price the exception is a lot of safes and the exception is a lot of safes and the exception is a lot of safes and convertible notes have a convertible notes have a convertible notes have a minimum funding amount uh to have a minimum funding amount uh to have a minimum funding amount uh to have a conversion so conversion so conversion so they'll say like if you raise less than they'll say like if you raise less than they'll say like if you raise less than 250k 250k 250k then it doesn't count as a convertible then it doesn't count as a convertible then it doesn't count as a convertible funding round or if you raise that less funding round or if you raise that less funding round or if you raise that less than 500k than 500k than 500k you know that's usually the range and we you know that's usually the range and we you know that's usually the range and we are obviously below that so in that case are obviously below that so in that case are obviously below that so in that case we have had i believe one or two we have had i believe one or two we have had i believe one or two companies come in companies come in companies come in with safes or convertible notes and and with safes or convertible notes and and with safes or convertible notes and and we funded and they didn't we funded and they didn't we funded and they didn't convert on our round but if they raise a convert on our round but if they raise a convert on our round but if they raise a future around or they sell it will future around or they sell it will future around or they sell it will so that's the gist yeah we have some so that's the gist yeah we have some so that's the gist yeah we have some some of those questions in the some of those questions in the some of those questions in the application and kind of digs into some application and kind of digs into some application and kind of digs into some of those of those of those points we added that this time around um points we added that this time around um points we added that this time around um and i want to say that those answers to and i want to say that those answers to and i want to say that those answers to your question when you say like how i your question when you say like how i your question when you say like how i you know to the questions about where you know to the questions about where you know to the questions about where you're you're you're incorporated or um any kind of those dig

incorporated or um any kind of those dig incorporated or um any kind of those dig in in in questions nothing is set in stone we're questions nothing is set in stone we're questions nothing is set in stone we're asking those questions asking those questions asking those questions so that we can follow up um do follow-up so that we can follow up um do follow-up so that we can follow up um do follow-up emails emails emails or questions later um so either in a or questions later um so either in a or questions later um so either in a email email email or in the first round of interviews or or in the first round of interviews or or in the first round of interviews or whatnot so whatnot so whatnot so when it comes to those answers if you when it comes to those answers if you when it comes to those answers if you don't know you're not sure you have don't know you're not sure you have don't know you're not sure you have questions feel free to answer questions feel free to answer questions feel free to answer write those in and we'll follow up with write those in and we'll follow up with write those in and we'll follow up with you um but the application definitely is you um but the application definitely is you um but the application definitely is not set in stone it's just meant to kind not set in stone it's just meant to kind not set in stone it's just meant to kind of start that conversation of start that conversation of start that conversation yeah that's the thing it's you know we yeah that's the thing it's you know we yeah that's the thing it's you know we get several hundred applications and we get several hundred applications and we get several hundred applications and we literally go through and look at tracy literally go through and look at tracy literally go through and look at tracy at least looks at every single one of at least looks at every single one of at least looks at every single one of them them them and then anar and i believe look yeah and then anar and i believe look yeah and then anar and i believe look yeah it's it's anna and i it's it's anna and i it's it's anna and i look at almost all of them but there are look at almost all of them but there are look at almost all of them but there are a few that you know whatever a few that you know whatever a few that you know whatever don't make the first cut um so we it don't make the first cut um so we it don't make the first cut um so we it really is really is really is a lot of this is case by case where we a lot of this is case by case where we a lot of this is case by case where we look at it and we'll ask you questions look at it and we'll ask you questions look at it and we'll ask you questions and do you have this and that you know and do you have this and that you know and do you have this and that you know we we have experienced a lot of um edge we we have experienced a lot of um edge we we have experienced a lot of um edge cases and so i appreciate these cases and so i appreciate these cases and so i appreciate these questions questions questions next question david williams says next question david williams says next question david williams says geographically and with the program in geographically and with the program in geographically and with the program in mind are we at a mind are we at a mind are we at a significant disadvantage if we are based significant disadvantage if we are based significant disadvantage if we are based in the uk it's david from in the uk it's david from in the uk it's david from profitizer dot app profitizer dot app profitizer dot app so tracy there's two things here there's so tracy there's two things here there's so tracy there's two things here there's a uk entity a uk entity a uk entity right david if you're based in the uk right david if you're based in the uk right david if you're based in the uk and have a u.s entity and have a u.s entity and have a u.s entity no problem but then the second thing i no problem but then the second thing i no problem but then the second thing i think you might be asking is uh location think you might be asking is uh location think you might be asking is uh location and time zones you want to address that and time zones you want to address that and time zones you want to address that piece of it piece of it piece of it yeah so um when we raised well we're in yeah so um when we raised well we're in yeah so um when we raised well we're in the process of raising our european fund the process of raising our european fund the process of raising our european fund which is specifically going to which is specifically going to which is specifically going to um well i can say that right now we just

um well i can say that right now we just um well i can say that right now we just started yep i was just making sure i was started yep i was just making sure i was started yep i was just making sure i was like oh no like oh no like oh no we're live so yeah we're raising this we're live so yeah we're raising this we're live so yeah we're raising this fund so we can have tiny seed europe fund so we can have tiny seed europe fund so we can have tiny seed europe and uk um and so we can invest directly and uk um and so we can invest directly and uk um and so we can invest directly in startups who are in in startups who are in in startups who are in um in those time zones in uk who are as um in those time zones in uk who are as um in those time zones in uk who are as uh uh uh not incorporated in the us i'm very not incorporated in the us i'm very not incorporated in the us i'm very excited for that excited for that excited for that hopefully there'll be more information hopefully there'll be more information hopefully there'll be more information say at the beginning of 2022 and what say at the beginning of 2022 and what say at the beginning of 2022 and what that looks like when the program will that looks like when the program will that looks like when the program will start start start um because it kind of depends on the um because it kind of depends on the um because it kind of depends on the fundraising so that said fundraising so that said fundraising so that said um the this fall 2021 batch is coming um the this fall 2021 batch is coming um the this fall 2021 batch is coming out of our second fund which we just out of our second fund which we just out of our second fund which we just raised which was 27 million which is raised which was 27 million which is raised which was 27 million which is awesome um that was raised uh to invest awesome um that was raised uh to invest awesome um that was raised uh to invest specifically in north american time specifically in north american time specifically in north american time zones and so that's kind of where this zones and so that's kind of where this zones and so that's kind of where this question question question like our requirements come up um like our requirements come up um like our requirements come up um rob would you say like how would you say rob would you say like how would you say rob would you say like how would you say how strict that is how strict that is how strict that is um i don't know if i can answer that um i don't know if i can answer that um i don't know if i can answer that yeah i mean specifically yeah i mean specifically yeah i mean specifically um we are looking for a us entity um we are looking for a us entity um we are looking for a us entity u.s and canadian entities and then i u.s and canadian entities and then i u.s and canadian entities and then i think someone's right now we have a think someone's right now we have a think someone's right now we have a mid-batch person who's probably coming mid-batch person who's probably coming mid-batch person who's probably coming in who is converting to like a us virgin in who is converting to like a us virgin in who is converting to like a us virgin islands company but islands company but islands company but it's still u.s law and u.s related um if it's still u.s law and u.s related um if it's still u.s law and u.s related um if you are a uk limited company you are a uk limited company you are a uk limited company and you are not willing or any you know and you are not willing or any you know and you are not willing or any you know anything outside the americas and are anything outside the americas and are anything outside the americas and are not willing to convert not willing to convert not willing to convert to some c-corp an llc a canadian entity to some c-corp an llc a canadian entity to some c-corp an llc a canadian entity um um um then you would want to wait for our then you would want to wait for our then you would want to wait for our european fund european fund european fund which you know tbd six months um which you know tbd six months um which you know tbd six months um nine months yeah i mean it's it's next nine months yeah i mean it's it's next nine months yeah i mean it's it's next year but if you have definitely not for

year but if you have definitely not for year but if you have definitely not for the the the next year not like five years from now next year not like five years from now next year not like five years from now we're we're trying to go very fast in we're we're trying to go very fast in we're we're trying to go very fast in that direction that direction that direction but if you if you are willing to convert but if you if you are willing to convert but if you if you are willing to convert or you already have a or you already have a or you already have a us-based uh again a u.s a canadian you us-based uh again a u.s a canadian you us-based uh again a u.s a canadian you know an american-based um know an american-based um know an american-based um entity we have tons of founders who entity we have tons of founders who entity we have tons of founders who live in europe or live in other places live in europe or live in other places live in europe or live in other places yeah so that your location yeah so that your location yeah so that your location is um is less relevant the only thing is is um is less relevant the only thing is is um is less relevant the only thing is then time zones i mean we do schedule then time zones i mean we do schedule then time zones i mean we do schedule the the the a lot of our calls between like noon and a lot of our calls between like noon and a lot of our calls between like noon and two central time and so that gets a two central time and so that gets a two central time and so that gets a little later on little later on little later on on your title we have to cater to a lot on your title we have to cater to a lot on your title we have to cater to a lot it's up to the founder like our current it's up to the founder like our current it's up to the founder like our current batch we have some people that are in batch we have some people that are in batch we have some people that are in thailand which has been a very thailand which has been a very thailand which has been a very um it's a hard time zone so you know um it's a hard time zone so you know um it's a hard time zone so you know they're opting and not to they're opting and not to they're opting and not to to show up live to our events but to show up live to our events but to show up live to our events but everything that we do is recorded it's everything that we do is recorded it's everything that we do is recorded it's put onto put onto put onto like a private founder dashboards and like a private founder dashboards and like a private founder dashboards and people to review later so if you're in a people to review later so if you're in a people to review later so if you're in a time zone that doesn't isn't conducive time zone that doesn't isn't conducive time zone that doesn't isn't conducive to to to attending any of our live events you can attending any of our live events you can attending any of our live events you can review it afterwards review it afterwards review it afterwards right so i want to remind folks to use right so i want to remind folks to use right so i want to remind folks to use the q and a the q and a the q and a function in zoom because there's chat at function in zoom because there's chat at function in zoom because there's chat at the bottom but if if you go to the the bottom but if if you go to the the bottom but if if you go to the bottom of zoom and look to the right bottom of zoom and look to the right bottom of zoom and look to the right almost next to that leave almost next to that leave almost next to that leave button there's a q a and that is much button there's a q a and that is much button there's a q a and that is much easier because then producer xander is easier because then producer xander is easier because then producer xander is able to able to able to to track them and uh and mark those to track them and uh and mark those to track them and uh and mark those questions when they're answered questions when they're answered questions when they're answered next question from harris yeah a lot are next question from harris yeah a lot are next question from harris yeah a lot are coming through harris kenny i'm happy to coming through harris kenny i'm happy to coming through harris kenny i'm happy to see you're open to funding a company see you're open to funding a company see you're open to funding a company that's relying on productized services that's relying on productized services that's relying on productized services to grow into a software company to grow into a software company to grow into a software company i'm sure that's 100 correct do you have i'm sure that's 100 correct do you have i'm sure that's 100 correct do you have any advice for how to talk any advice for how to talk any advice for how to talk about where companies like this are in about where companies like this are in about where companies like this are in the journey when applying for tiny seed the journey when applying for tiny seed the journey when applying for tiny seed so we've had we have a few companies who so we've had we have a few companies who so we've had we have a few companies who have a productized have a productized have a productized service in essence built on top of sas

service in essence built on top of sas service in essence built on top of sas but their sas but their sas but their sas revenue was at a minimum revenue was at a minimum revenue was at a minimum you know it met our minimum bar in terms you know it met our minimum bar in terms you know it met our minimum bar in terms of having a software company already of having a software company already of having a software company already and this and the productize service was and this and the productize service was and this and the productize service was um um um either a way to go revenue faster or either a way to go revenue faster or either a way to go revenue faster or just an additional revenue stream so if just an additional revenue stream so if just an additional revenue stream so if you are productive service and you have you are productive service and you have you are productive service and you have no no no software written you wouldn't be a fit software written you wouldn't be a fit software written you wouldn't be a fit for us today you're not a sas company for us today you're not a sas company for us today you're not a sas company you are a product service which is you are a product service which is you are a product service which is different if you are in the process of different if you are in the process of different if you are in the process of building a sas building a sas building a sas from your product to service then build from your product to service then build from your product to service then build that launch it that launch it that launch it get some sas revenue and apply to tiny get some sas revenue and apply to tiny get some sas revenue and apply to tiny seed and the beauty is seed and the beauty is seed and the beauty is is it's not every year now it's every is it's not every year now it's every is it's not every year now it's every six months and when you know when we add six months and when you know when we add six months and when you know when we add europe next year it'll europe next year it'll europe next year it'll there'll be even more opportunities to there'll be even more opportunities to there'll be even more opportunities to do it do it do it but we do you know productive services but we do you know productive services but we do you know productive services are nice because you can charge are nice because you can charge are nice because you can charge you can charge a lot for them they don't you can charge a lot for them they don't you can charge a lot for them they don't scale as easily as software but they're scale as easily as software but they're scale as easily as software but they're certainly certainly certainly helpful in the early days question what helpful in the early days question what helpful in the early days question what are some key aspects you look for are some key aspects you look for are some key aspects you look for in companies that you select in companies that you select in companies that you select so i will go first on this the short so i will go first on this the short so i will go first on this the short answer there's a really long answer answer there's a really long answer answer there's a really long answer and we're not going to do that one and we're not going to do that one and we're not going to do that one there's like a we have a google doc with there's like a we have a google doc with there's like a we have a google doc with 40 something bullets in it that we look 40 something bullets in it that we look 40 something bullets in it that we look at at at i look at people product market fit i look at people product market fit i look at people product market fit and pricing and so the people is we're and pricing and so the people is we're and pricing and so the people is we're we're talking to the founders do we we're talking to the founders do we we're talking to the founders do we think these founders are are going to think these founders are are going to think these founders are are going to get it done have they get it done have they get it done have they a proven track record of shipping and a proven track record of shipping and a proven track record of shipping and getting things done do they take action getting things done do they take action getting things done do they take action or you know are they victims are they or you know are they victims are they or you know are they victims are they sitting around saying oh it's not my sitting around saying oh it's not my sitting around saying oh it's not my fault that my fault that my fault that my you know my product isn't working or i you know my product isn't working or i you know my product isn't working or i got screwed here or they're like or are got screwed here or they're like or are got screwed here or they're like or are they pushing it and and they pushing it and and they pushing it and and getting it done so that's the people um

getting it done so that's the people um getting it done so that's the people um uh someone asked solo founders yes we uh someone asked solo founders yes we uh someone asked solo founders yes we fund a lot of solo founders i think we fund a lot of solo founders i think we fund a lot of solo founders i think we actually fund more solo founders than actually fund more solo founders than actually fund more solo founders than two-person teams two-person teams two-person teams um which is which is the opposite of um which is which is the opposite of um which is which is the opposite of most you know accelerators and most most you know accelerators and most most you know accelerators and most venture funds venture funds venture funds um so that was people uh product market um so that was people uh product market um so that was people uh product market fit fit fit is just that have you built something is just that have you built something is just that have you built something people want and are willing to pay for people want and are willing to pay for people want and are willing to pay for and this is a spectrum so you know you and this is a spectrum so you know you and this is a spectrum so you know you could say at 2 2000 mrr could say at 2 2000 mrr could say at 2 2000 mrr i have some product market fit and at 10 i have some product market fit and at 10 i have some product market fit and at 10 or 15k i have a lot of product market or 15k i have a lot of product market or 15k i have a lot of product market fit fit fit that's a general range but it doesn't that's a general range but it doesn't that's a general range but it doesn't always hold true we've i've seen always hold true we've i've seen always hold true we've i've seen companies with 30k mrr companies with 30k mrr companies with 30k mrr who really still haven't found product who really still haven't found product who really still haven't found product market fit or found it with just a very market fit or found it with just a very market fit or found it with just a very small audience and are plateauing small audience and are plateauing small audience and are plateauing and then have to expand out um but and then have to expand out um but and then have to expand out um but definitely definitely definitely if you have zero mrr you've shown that if you have zero mrr you've shown that if you have zero mrr you've shown that you haven't yet built something people you haven't yet built something people you haven't yet built something people are willing to pay for you know you are willing to pay for you know you are willing to pay for you know you haven't proven that yet haven't proven that yet haven't proven that yet um and if you're that's the main reason um and if you're that's the main reason um and if you're that's the main reason why we ask for people who are post why we ask for people who are post why we ask for people who are post revenue like revenue like revenue like because we get a lot of questions asking because we get a lot of questions asking because we get a lot of questions asking like oh i have a pre-revenue company oh like oh i have a pre-revenue company oh like oh i have a pre-revenue company oh i'm still working on like collecting i'm still working on like collecting i'm still working on like collecting emails but it's a really great idea emails but it's a really great idea emails but it's a really great idea um and this is the primary reason why we um and this is the primary reason why we um and this is the primary reason why we um we um we um we uh that this aspect of what we're uh that this aspect of what we're uh that this aspect of what we're looking for is why we don't allow people looking for is why we don't allow people looking for is why we don't allow people who are pre-revenue who are pre-revenue who are pre-revenue right and and here's the thing it right and and here's the thing it right and and here's the thing it revenue is not everything revenue is not revenue is not everything revenue is not revenue is not everything revenue is not the only signal it's not like we sort on the only signal it's not like we sort on the only signal it's not like we sort on mrr and just make an offer to the top mrr and just make an offer to the top mrr and just make an offer to the top ten that's not how it works it ten that's not how it works it ten that's not how it works it there really are a bunch of factors and there really are a bunch of factors and there really are a bunch of factors and so people is one product market fit is so people is one product market fit is so people is one product market fit is another and another and another and uh pricing or price sensitivity is a big uh pricing or price sensitivity is a big uh pricing or price sensitivity is a big one that i look at if you're selling two one that i look at if you're selling two one that i look at if you're selling two consumers consumers consumers and you're charging nine dollars a month and you're charging nine dollars a month and you're charging nine dollars a month and your churn is really high you're and your churn is really high you're and your churn is really high you're going to plateau pretty quick even in a going to plateau pretty quick even in a going to plateau pretty quick even in a big big big market if you uh have can have higher

market if you uh have can have higher market if you uh have can have higher price points if you have price points if you have price points if you have enterprise price points and you know enterprise price points and you know enterprise price points and you know your churn is low your churn is low your churn is low then you have less price sensitivity and then you have less price sensitivity and then you have less price sensitivity and you have more price flexibility you have more price flexibility you have more price flexibility so those are my three p's that i look at so those are my three p's that i look at so those are my three p's that i look at tracy you have other other things to add tracy you have other other things to add tracy you have other other things to add no i've pretty much learned from you so no i've pretty much learned from you so no i've pretty much learned from you so a lot of my experience in the in the in a lot of my experience in the in the in a lot of my experience in the in the in this is coming directly from you and this is coming directly from you and this is coming directly from you and adar adar adar um i can't think of anything else i would i can't think of anything else i would add for that i think that was a pretty add for that i think that was a pretty add for that i think that was a pretty uh uh uh complete answer awesome great um complete answer awesome great um complete answer awesome great um nelson asked what i'm just skipping nelson asked what i'm just skipping nelson asked what i'm just skipping around sorry producer xander what around sorry producer xander what around sorry producer xander what startup from i'll be back in the outline startup from i'll be back in the outline startup from i'll be back in the outline a second what startup what about a second what startup what about a second what startup what about startups from africa we can register a startups from africa we can register a startups from africa we can register a company in the us and apply for the company in the us and apply for the company in the us and apply for the accelerator accelerator accelerator yes we have actually had some african yes we have actually had some african yes we have actually had some african companies apply and have had companies apply and have had companies apply and have had conversations with them so conversations with them so conversations with them so um please do next question from mihai um please do next question from mihai um please do next question from mihai sava sava sava uh boy how many questions are here i uh boy how many questions are here i uh boy how many questions are here i don't know i'll also start reading don't know i'll also start reading don't know i'll also start reading question one question one question one we've launched our product two months we've launched our product two months we've launched our product two months ago we have signed a contract with one ago we have signed a contract with one ago we have signed a contract with one company company company to start using our product in the to start using our product in the to start using our product in the agreement we have fixed agreement we have fixed agreement we have fixed kpis which are key performance kpis which are key performance kpis which are key performance indicators on how much we're going to indicators on how much we're going to indicators on how much we're going to achieve in terms of revenue for year one achieve in terms of revenue for year one achieve in terms of revenue for year one two and three along with the profit two and three along with the profit two and three along with the profit share share share can we count that against mrr in your can we count that against mrr in your can we count that against mrr in your application application application i don't understand what you're asking so i don't understand what you're asking so i don't understand what you're asking so maybe in maybe in maybe in maybe in the application do take your maybe in the application do take your maybe in the application do take your best guess and then there's like a notes best guess and then there's like a notes best guess and then there's like a notes field or there's something and just field or there's something and just field or there's something and just explain it because i don't understand explain it because i don't understand explain it because i don't understand what the profit share is versus what the profit share is versus what the profit share is versus the kpis um and this is a very specific the kpis um and this is a very specific the kpis um and this is a very specific question so i don't necessarily want to

question so i don't necessarily want to question so i don't necessarily want to you know you know you know dig into it we have 20 or 20 more coming dig into it we have 20 or 20 more coming dig into it we have 20 or 20 more coming in um also we have some in um also we have some in um also we have some mou which is what uh something of a mou which is what uh something of a mou which is what uh something of a memorandum of understanding memorandum of understanding memorandum of understanding signed with two other companies waiting signed with two other companies waiting signed with two other companies waiting to use our product can we to use our product can we to use our product can we put that somewhere in the application put that somewhere in the application put that somewhere in the application yes there is a there's an open text yes there is a there's an open text yes there is a there's an open text field somewhere right tracy so this kind field somewhere right tracy so this kind field somewhere right tracy so this kind of stuff explain it but explain it in of stuff explain it but explain it in of stuff explain it but explain it in detail like detail like detail like explain really like isn't it as an mou explain really like isn't it as an mou explain really like isn't it as an mou that they have committed that they have committed that they have committed to purchase and at what price like we to purchase and at what price like we to purchase and at what price like we need to know all those numbers need to know all those numbers need to know all those numbers um or is it they are considering um or is it they are considering um or is it they are considering purchasing if you hit milestones in the purchasing if you hit milestones in the purchasing if you hit milestones in the future future future you know then it might be a hey come you know then it might be a hey come you know then it might be a hey come back and apply later back and apply later back and apply later yeah and you know and if there's any yeah and you know and if there's any yeah and you know and if there's any fields that seem to be missing feel free fields that seem to be missing feel free fields that seem to be missing feel free to send me an email hello at 10ac.com or to send me an email hello at 10ac.com or to send me an email hello at 10ac.com or you can you can you can message me directly through your message me directly through your message me directly through your submittable application which is the submittable application which is the submittable application which is the platform we're using for the platform we're using for the platform we're using for the applications applications applications i can grab anything that doesn't fit and i can grab anything that doesn't fit and i can grab anything that doesn't fit and i can stick it on your application and i can stick it on your application and i can stick it on your application and buy it buy it buy it um so yeah don't don't worry if things um so yeah don't don't worry if things um so yeah don't don't worry if things don't fit exactly like i'm going to read don't fit exactly like i'm going to read don't fit exactly like i'm going to read through all your applications and i through all your applications and i through all your applications and i you know i'm not going to just judge you know i'm not going to just judge you know i'm not going to just judge them based on whether everything is in them based on whether everything is in them based on whether everything is in the right place the right place the right place i would read through it like a human i would read through it like a human i would read through it like a human it's totally fine um so feel free to put it's totally fine um so feel free to put it's totally fine um so feel free to put answers in a different place and say hey answers in a different place and say hey answers in a different place and say hey this refers to something else this refers to something else this refers to something else or send me an email i can switch it up or send me an email i can switch it up or send me an email i can switch it up it's totally it's totally it's totally always it's all flexible it's fine always it's all flexible it's fine always it's all flexible it's fine evan hallward says we're three weeks evan hallward says we're three weeks evan hallward says we're three weeks into a plg into a plg into a plg pivot from sales lead and pivot from sales lead and pivot from sales lead and i had never heard of plg i was gonna say i had never heard of plg i was gonna say i had never heard of plg i was gonna say what's plg well okay i put typed what's plg well okay i put typed what's plg well okay i put typed plg into google just to see and here's plg into google just to see and here's plg into google just to see and here's the definitions it gives me number one the definitions it gives me number one the definitions it gives me number one pretty little girl number two pretty little girl number two pretty little girl number two progressive librarians guild progressive librarians guild progressive librarians guild number three private lights goods number

number three private lights goods number number three private lights goods number four play golf holdings plc so i'm four play golf holdings plc so i'm four play golf holdings plc so i'm thinking it's not these thinking it's not these thinking it's not these down uh about on the fifth result that down uh about on the fifth result that down uh about on the fifth result that says what is different says what is different says what is different there it is i know i got to it it was a there it is i know i got to it it was a there it is i know i got to it it was a joke it'd be entertaining we're just joke it'd be entertaining we're just joke it'd be entertaining we're just answering questions this is boring answering questions this is boring answering questions this is boring all right here's we're three weeks into all right here's we're three weeks into all right here's we're three weeks into a product-led growth pivot a product-led growth pivot a product-led growth pivot from sales led right and you know how from sales led right and you know how from sales led right and you know how product like sales led growth would be product like sales led growth would be product like sales led growth would be outbound and dealing a lot of sales outbound and dealing a lot of sales outbound and dealing a lot of sales stuff where product is um stuff where product is um stuff where product is um more going to be on the marketing side more going to be on the marketing side more going to be on the marketing side we do have mrr but it's low we do have mrr but it's low we do have mrr but it's low and it depends so what is low right and it depends so what is low right and it depends so what is low right would you say apply now would you say apply now would you say apply now anyway or wait six months and check back anyway or wait six months and check back anyway or wait six months and check back we'd benefit more from the mentorship we'd benefit more from the mentorship we'd benefit more from the mentorship community funding now than in six months community funding now than in six months community funding now than in six months but may not have impressive numbers um but may not have impressive numbers um but may not have impressive numbers um oh no problem evan oh no problem evan oh no problem evan that it's it's all good man i was it's that it's it's all good man i was it's that it's it's all good man i was it's just a fun little little thing to chat just a fun little little thing to chat just a fun little little thing to chat about about about um i mean my gut is always honestly it's um i mean my gut is always honestly it's um i mean my gut is always honestly it's like if you're in doubt like if you're in doubt like if you're in doubt apply because what is it is it take you apply because what is it is it take you apply because what is it is it take you 20 minutes 20 minutes 20 minutes to do this like we're not you should to do this like we're not you should to do this like we're not you should know your mrr and your church like we know your mrr and your church like we know your mrr and your church like we don't ask for stuff that don't ask for stuff that don't ask for stuff that that takes it's not a two-hour that takes it's not a two-hour that takes it's not a two-hour application it shouldn't be a tour if application it shouldn't be a tour if application it shouldn't be a tour if it's a two-hour application you it's a two-hour application you it's a two-hour application you honestly you don't know your business honestly you don't know your business honestly you don't know your business that well and so in my opinion that well and so in my opinion that well and so in my opinion if you if you're in doubt you should if you if you're in doubt you should if you if you're in doubt you should apply apply apply because you don't have much to lose because you don't have much to lose because you don't have much to lose we've had many companies apply we've had many companies apply we've had many companies apply twice and we had uh cloud forecast twice and we had uh cloud forecast twice and we had uh cloud forecast applied three times and got in on their applied three times and got in on their applied three times and got in on their third time right it took third time right it took third time right it took they replied every single application they replied every single application they replied every single application that should be clear there's like every that should be clear there's like every that should be clear there's like every single application we put out cloud single application we put out cloud single application we put out cloud force has force has force has uh applied was denied twice uh applied was denied twice uh applied was denied twice but they kept showing up and to to the but they kept showing up and to to the but they kept showing up and to to the people product market fit and pricing

people product market fit and pricing people product market fit and pricing like they kept showing up they actually like they kept showing up they actually like they kept showing up they actually found more product market fit over the found more product market fit over the found more product market fit over the two years they two years they two years they showed us that their price people showed us that their price people showed us that their price people weren't price sensitive and the founder weren't price sensitive and the founder weren't price sensitive and the founder showed that they showed that they showed that they showed us that they showed up and were showed us that they showed up and were showed us that they showed up and were able to get traction so able to get traction so able to get traction so the other thing is these applications the other thing is these applications the other thing is these applications are often are often are often we will often have a conversation and we will often have a conversation and we will often have a conversation and then if we if we don't wind up having a then if we if we don't wind up having a then if we if we don't wind up having a spot for you we will frequently say spot for you we will frequently say spot for you we will frequently say please please please we know each other we've seen each other we know each other we've seen each other we know each other we've seen each other face to face on zoom i kind of have an face to face on zoom i kind of have an face to face on zoom i kind of have an understanding your business now understanding your business now understanding your business now send us your updates like if you send us send us your updates like if you send us send us your updates like if you send us a monthly update and then apply again in a monthly update and then apply again in a monthly update and then apply again in six months and by that time we're six months and by that time we're six months and by that time we're even more familiar i read every i think even more familiar i read every i think even more familiar i read every i think i get 70 something updates i get 70 something updates i get 70 something updates um from seed and then other investments um from seed and then other investments um from seed and then other investments and then from non-investments and and then from non-investments and and then from non-investments and we read them um uh we read them um uh we read them um uh yes so anyways the the apply i think is yes so anyways the the apply i think is yes so anyways the the apply i think is a little uh a little uh a little uh oh xander just sent me a message to the oh xander just sent me a message to the oh xander just sent me a message to the chat that i answered a question um chat that i answered a question um chat that i answered a question um sorry about that xander if you click on sorry about that xander if you click on sorry about that xander if you click on answer live i think i would notice i answer live i think i would notice i answer live i think i would notice i would know that was going to be an would know that was going to be an would know that was going to be an answer live question answer live question answer live question all right so is did you answer a all right so is did you answer a all right so is did you answer a question that we should answer question that we should answer question that we should answer uh i just asked something about i think uh i just asked something about i think uh i just asked something about i think it's i think it was a typical it's i think it was a typical it's i think it was a typical i'm thinking if they're mad i'm thinking if they're mad i'm thinking if they're mad you told me i could type answers anyways you told me i could type answers anyways you told me i could type answers anyways um what did i answer i think that was um what did i answer i think that was um what did i answer i think that was the ar question okay the ar question okay the ar question okay i don't know anymore so um anyways i i don't know anymore so um anyways i i don't know anymore so um anyways i answered a question that was uh answered a question that was uh answered a question that was uh that was in that's in the q a answering that was in that's in the q a answering that was in that's in the q a answering what does it what does it what does it tip chris christopher mannion what does tip chris christopher mannion what does tip chris christopher mannion what does a typical company look like ar etc when

a typical company look like ar etc when a typical company look like ar etc when entering the program is there a size entering the program is there a size entering the program is there a size that is too big for tiny seed no there that is too big for tiny seed no there that is too big for tiny seed no there is not and that's the typical thing is is not and that's the typical thing is is not and that's the typical thing is each batch has looked different the each batch has looked different the each batch has looked different the first batch was earlier stage second first batch was earlier stage second first batch was earlier stage second batch people were further along and the batch people were further along and the batch people were further along and the third batch third batch third batch people you know it's it's really a mix people you know it's it's really a mix people you know it's it's really a mix and anything and anything and anything we say will um i think it's just too we say will um i think it's just too we say will um i think it's just too limiting it's like limiting it's like limiting it's like last batch we didn't accept anyone under last batch we didn't accept anyone under last batch we didn't accept anyone under 2k mrr i believe 2k mrr i believe 2k mrr i believe and it would be nice if from our and it would be nice if from our and it would be nice if from our perspective perspective perspective we can continue to do that because um we can continue to do that because um we can continue to do that because um man when you're at a thousand mri man when you're at a thousand mri man when you're at a thousand mri it can take you six to 12 months just to it can take you six to 12 months just to it can take you six to 12 months just to get the 5k right you just don't know yet get the 5k right you just don't know yet get the 5k right you just don't know yet um but that's not a hard and fast rule um but that's not a hard and fast rule um but that's not a hard and fast rule let's say let's say let's say we don't get the applicants that we need we don't get the applicants that we need we don't get the applicants that we need and we want to fill the batch well then and we want to fill the batch well then and we want to fill the batch well then we might you know take some folks that we might you know take some folks that we might you know take some folks that are at a different spot and again mrr is are at a different spot and again mrr is are at a different spot and again mrr is not not not it's one of several factors it's not the it's one of several factors it's not the it's one of several factors it's not the only factor only factor only factor okay i want to jump in actually on the okay i want to jump in actually on the okay i want to jump in actually on the previous question we were talking about previous question we were talking about previous question we were talking about some of the metrics some of the metrics some of the metrics it occurred we actually did something i it occurred we actually did something i it occurred we actually did something i ins we asked some things about metrics ins we asked some things about metrics ins we asked some things about metrics we we we ask about uh what's your lifetime value ask about uh what's your lifetime value ask about uh what's your lifetime value and churn and whatnot and churn and whatnot and churn and whatnot and i have this like flashback to when i and i have this like flashback to when i and i have this like flashback to when i was running my last startup and i knew was running my last startup and i knew was running my last startup and i knew what my revenue was but a lot of the what my revenue was but a lot of the what my revenue was but a lot of the acronyms were still confusing to me i acronyms were still confusing to me i acronyms were still confusing to me i was still building a sas but was still building a sas but was still building a sas but you know i wasn't like say delved into you know i wasn't like say delved into you know i wasn't like say delved into those acronyms i linked to some those acronyms i linked to some those acronyms i linked to some resources for how to calculate those if resources for how to calculate those if resources for how to calculate those if if you are new to like kind of calculate if you are new to like kind of calculate if you are new to like kind of calculate all your metrics if you have a sas all your metrics if you have a sas all your metrics if you have a sas that's running and you're new to that that's running and you're new to that that's running and you're new to that um feel free to either send me an email um feel free to either send me an email um feel free to either send me an email and ask any questions or i can and ask any questions or i can and ask any questions or i can click through some of those resources um click through some of those resources um click through some of those resources um if that's just something that is new to if that's just something that is new to if that's just something that is new to you you you um so that's i think that's the only

um so that's i think that's the only um so that's i think that's the only part of the application if you're not part of the application if you're not part of the application if you're not already doing those kind of tracking or already doing those kind of tracking or already doing those kind of tracking or not really aware of that side of the not really aware of that side of the not really aware of that side of the things things things might take you some time just to do might take you some time just to do might take you some time just to do those calculations but it's a really those calculations but it's a really those calculations but it's a really good practice to do too good practice to do too good practice to do too um and now that i you know i didn't do um and now that i you know i didn't do um and now that i you know i didn't do it my last startup it's one of my it my last startup it's one of my it my last startup it's one of my biggest regrets biggest regrets biggest regrets um so if you're not doing it if you're um so if you're not doing it if you're um so if you're not doing it if you're not tracking some of these metrics um not tracking some of these metrics um not tracking some of these metrics um now is the time to do it and then you'll now is the time to do it and then you'll now is the time to do it and then you'll need that for your application so when i need that for your application so when i need that for your application so when i said if you don't know these numbers you said if you don't know these numbers you said if you don't know these numbers you don't know your business very well don't know your business very well don't know your business very well did you take offense at that were you did you take offense at that were you did you take offense at that were you like oh i just thought i just thought of like oh i just thought i just thought of like oh i just thought i just thought of myself myself myself my previous founder i'd be like i do my previous founder i'd be like i do my previous founder i'd be like i do know that i know my business but then know that i know my business but then know that i know my business but then it's like those kind of things now that it's like those kind of things now that it's like those kind of things now that my tiny seed and now i my tiny seed and now i my tiny seed and now i now that i know how valuable those now that i know how valuable those now that i know how valuable those metrics are i look back at that metrics are i look back at that metrics are i look back at that i can see like previous tracy didn't i can see like previous tracy didn't i can see like previous tracy didn't know but current tracy it kind of know but current tracy it kind of know but current tracy it kind of understands that mindset understands that mindset understands that mindset so just want to bring that up but i did so just want to bring that up but i did so just want to bring that up but i did link to some resources for those link to some resources for those link to some resources for those those um those fields all right sean those um those fields all right sean those um those fields all right sean mcauliffe says i'm a bit confused by the mcauliffe says i'm a bit confused by the mcauliffe says i'm a bit confused by the investment you accept investment you accept investment you accept uh lower mrr companies but offer 120k uh lower mrr companies but offer 120k uh lower mrr companies but offer 120k for he says 10 but really our standard for he says 10 but really our standard for he says 10 but really our standard terms 120k for 12 percent that is our terms 120k for 12 percent that is our terms 120k for 12 percent that is our standard offer standard offer standard offer um and then he says but you also um and then he says but you also um and then he says but you also mentioned six figure and seven figure mentioned six figure and seven figure mentioned six figure and seven figure err can you elaborate as to what this err can you elaborate as to what this err can you elaborate as to what this might look like for an might look like for an might look like for an early stage company so yeah our standard early stage company so yeah our standard early stage company so yeah our standard term term term are 120k for the first founder 60k for are 120k for the first founder 60k for are 120k for the first founder 60k for the second 40 for the third the second 40 for the third the second 40 for the third we've never funded a four-person company we've never funded a four-person company we've never funded a four-person company founder team and i don't know that founder team and i don't know that founder team and i don't know that we will we tend to be to be honest we we will we tend to be to be honest we we will we tend to be to be honest we have a bias towards smaller founding have a bias towards smaller founding have a bias towards smaller founding teams teams teams that's the pattern that we've seen in that's the pattern that we've seen in that's the pattern that we've seen in bootstrappers who get it done or usually bootstrappers who get it done or usually bootstrappers who get it done or usually it's one or two person teams it's one or two person teams it's one or two person teams um and that's the opposite of boise um and that's the opposite of boise um and that's the opposite of boise because it is like multiple founders because it is like multiple founders because it is like multiple founders that's one of the big you know the way

that's one of the big you know the way that's one of the big you know the way that we look at the industry that's kind that we look at the industry that's kind that we look at the industry that's kind of that's what i say and and i like that of that's what i say and and i like that of that's what i say and and i like that a lot of things a lot of things a lot of things i mean look we have a lot of respect for i mean look we have a lot of respect for i mean look we have a lot of respect for yc and r went through yc your husband yc and r went through yc your husband yc and r went through yc your husband went through yc like we have connections went through yc like we have connections went through yc like we have connections there and i have i've been a fan of p there and i have i've been a fan of p there and i have i've been a fan of p of paul graham forever i've read his of paul graham forever i've read his of paul graham forever i've read his books when they came out like we books when they came out like we books when they came out like we it's it's it's just a different model it's it's it's just a different model it's it's it's just a different model right it's uh i have a lot of respect right it's uh i have a lot of respect right it's uh i have a lot of respect for for for for what they built and certainly we are for what they built and certainly we are for what they built and certainly we are standing on the on the shoulders of standing on the on the shoulders of standing on the on the shoulders of giants but we're giants but we're giants but we're kind of trying to go back to you know kind of trying to go back to you know kind of trying to go back to you know first principles so to speak and say first principles so to speak and say first principles so to speak and say what is best for bootstrappers what is best for bootstrappers what is best for bootstrappers um and so the bottom line is our um and so the bottom line is our um and so the bottom line is our standard terms 120 standard terms 120 standard terms 120 plus 60 plus 40 uh and that is for 12 plus 60 plus 40 uh and that is for 12 plus 60 plus 40 uh and that is for 12 and so low whatever low mrr companies and so low whatever low mrr companies and so low whatever low mrr companies whatever that means whatever that means whatever that means standard mrr companies that's the deal standard mrr companies that's the deal standard mrr companies that's the deal um there are some companies that come um there are some companies that come um there are some companies that come uh in with like i said you know uh in with like i said you know uh in with like i said you know six-figure seven-figure error and those six-figure seven-figure error and those six-figure seven-figure error and those we have a conversation we have a conversation we have a conversation with and uh you know so we do have that with and uh you know so we do have that with and uh you know so we do have that ten we do have a small amount of ten we do have a small amount of ten we do have a small amount of flexibility flexibility flexibility um in our terms and again i'd incur if um in our terms and again i'd incur if um in our terms and again i'd incur if you're in doubt i'd encourage you to you're in doubt i'd encourage you to you're in doubt i'd encourage you to apply and have a conversation with us apply and have a conversation with us apply and have a conversation with us we're we're we're we are really friendly people um and we are really friendly people um and we are really friendly people um and yeah i try i try to take pride in my yeah i try i try to take pride in my yeah i try i try to take pride in my my friendly and totally down-to-earth my friendly and totally down-to-earth my friendly and totally down-to-earth responses whenever responses whenever responses whenever whenever an email comes into hella tiny whenever an email comes into hella tiny whenever an email comes into hella tiny seed that goes straight to me seed that goes straight to me seed that goes straight to me so um please feel free to fill my inbox so um please feel free to fill my inbox so um please feel free to fill my inbox with questions i'm happy to answer them with questions i'm happy to answer them with questions i'm happy to answer them all right um chase fleming says does all right um chase fleming says does all right um chase fleming says does company type company type company type matter llc versus c-corp matter llc versus c-corp matter llc versus c-corp tracy do we care we don't care if you're tracy do we care we don't care if you're tracy do we care we don't care if you're us uh us uh us uh if incorporating the us we don't it if incorporating the us we don't it if incorporating the us we don't it doesn't have to be like a delaware c doesn't have to be like a delaware c doesn't have to be like a delaware c corp you don't have to convert to sell corp you don't have to convert to sell corp you don't have to convert to sell dell or corp like all those things that dell or corp like all those things that dell or corp like all those things that their investors do

their investors do their investors do um llcs and c corps are um llcs and c corps are um llcs and c corps are in any state uh works for us in any state uh works for us in any state uh works for us venkat says can you give a couple venkat says can you give a couple venkat says can you give a couple examples of where mentorship has made a examples of where mentorship has made a examples of where mentorship has made a practical difference to your founders practical difference to your founders practical difference to your founders i'm smiling big because i can rattle off i'm smiling big because i can rattle off i'm smiling big because i can rattle off like 30 like 30 like 30 but all right no no you go first yeah no but all right no no you go first yeah no but all right no no you go first yeah no no no no examples you don't want examples where examples you don't want examples where examples you don't want examples where the difference is to help the difference is to help the difference is to help helping sell to enterprise reducing the helping sell to enterprise reducing the helping sell to enterprise reducing the sales cycle be good to know from sales cycle be good to know from sales cycle be good to know from dealplus.io dealplus.io dealplus.io tracy you want to go first you want me tracy you want to go first you want me tracy you want to go first you want me to go okay you got so excited that i was to go okay you got so excited that i was to go okay you got so excited that i was like oh like oh like oh i just started looking at me and i was i just started looking at me and i was i just started looking at me and i was like no no no this is all you man yeah like no no no this is all you man yeah like no no no this is all you man yeah well well well it's like that i'm so excited so it's like that i'm so excited so it's like that i'm so excited so the tiny seed playbook uh is the first the tiny seed playbook uh is the first the tiny seed playbook uh is the first seven give or take it's like the first seven give or take it's like the first seven give or take it's like the first seven seven seven modules of the program and and anar and modules of the program and and anar and modules of the program and and anar and i walk through i walk through i walk through 101 and 102 level stuff on pricing 101 and 102 level stuff on pricing 101 and 102 level stuff on pricing and funnels and sales and and funnels and sales and and funnels and sales and m a and fundraising if you decide to do m a and fundraising if you decide to do m a and fundraising if you decide to do that that that um and a cup and a lead jan and a couple um and a cup and a lead jan and a couple um and a cup and a lead jan and a couple other things other things other things um and every time we talk go through the um and every time we talk go through the um and every time we talk go through the pricing one pricing one pricing one you can look at the revenue graphs of you can look at the revenue graphs of you can look at the revenue graphs of i'd say but i'd say but i'd say but yep about between 20 and 40 percent of yep about between 20 and 40 percent of yep about between 20 and 40 percent of the companies if we look back to the the companies if we look back to the the companies if we look back to the month the month the month the the week that we do the pricing talk the week that we do the pricing talk the week that we do the pricing talk within a few weeks within a few weeks within a few weeks it it's uh forget the expression it's it it's uh forget the expression it's it it's uh forget the expression it's like a hockey you know it's a hockey like a hockey you know it's a hockey like a hockey you know it's a hockey stick stick stick in inter it's a bootstrapper hockey in inter it's a bootstrapper hockey in inter it's a bootstrapper hockey stick right it's not but it's like stick right it's not but it's like stick right it's not but it's like it's incredible and so we just we it's incredible and so we just we it's incredible and so we just we encourage folks that with that encourage folks that with that encourage folks that with that um we have had and that's just that's um we have had and that's just that's um we have had and that's just that's anar and i it's not counting the 40

anar and i it's not counting the 40 anar and i it's not counting the 40 mentors we have and the advice uh mentors we have and the advice uh mentors we have and the advice uh you know yeah i just like introduced you know yeah i just like introduced you know yeah i just like introduced someone that taylor hendrickson who does someone that taylor hendrickson who does someone that taylor hendrickson who does a lot with like social like paid a lot with like social like paid a lot with like social like paid campaign so he was able to walk through campaign so he was able to walk through campaign so he was able to walk through with the founder through with the founder through with the founder through all of the paid campaigns that they had all of the paid campaigns that they had all of the paid campaigns that they had set up um set up um set up um and kind of like debugged it and gave and kind of like debugged it and gave and kind of like debugged it and gave his advice and that founder said to meet his advice and that founder said to meet his advice and that founder said to meet an email being like this is so valuable an email being like this is so valuable an email being like this is so valuable this is really amazing and that's like this is really amazing and that's like this is really amazing and that's like those are the kind of moments that those are the kind of moments that those are the kind of moments that make this whole thing worth it it's like make this whole thing worth it it's like make this whole thing worth it it's like really awesome to see you know whenever really awesome to see you know whenever really awesome to see you know whenever we connect to events for we connect to events for we connect to events for again because we have these like subject again because we have these like subject again because we have these like subject matter experts that are just like really matter experts that are just like really matter experts that are just like really really good in a specific area um it's really good in a specific area um it's really good in a specific area um it's really great to see what kind of results really great to see what kind of results really great to see what kind of results that someone can get when they can get that someone can get when they can get that someone can get when they can get that that that like shortcut advice rather than kind of like shortcut advice rather than kind of like shortcut advice rather than kind of going through and trying to learn it going through and trying to learn it going through and trying to learn it themselves from scratch themselves from scratch themselves from scratch right and i mean another example you and right and i mean another example you and right and i mean another example you and i tracy walked through a founder's i tracy walked through a founder's i tracy walked through a founder's funnel and each recorded a loom for him funnel and each recorded a loom for him funnel and each recorded a loom for him and you recorded it from like a design and you recorded it from like a design and you recorded it from like a design ux perspective or ui and i record it ux perspective or ui and i record it ux perspective or ui and i record it from like a conversion rate optimization from like a conversion rate optimization from like a conversion rate optimization perspective and we both you and i both perspective and we both you and i both perspective and we both you and i both overlapped but overlapped but overlapped but he implemented those and came back and he implemented those and came back and he implemented those and came back and was like my conversion rate's up i don't was like my conversion rate's up i don't was like my conversion rate's up i don't remember what the number it was like remember what the number it was like remember what the number it was like ridiculous it was like ridiculous it was like ridiculous it was like 50 or something based on what you guys 50 or something based on what you guys 50 or something based on what you guys said so said so said so again that's that's our internal again that's that's our internal again that's that's our internal information but our mentors you know information but our mentors you know information but our mentors you know uh also have that venkat's question he uh also have that venkat's question he uh also have that venkat's question he was saying helping sell the enterprise was saying helping sell the enterprise was saying helping sell the enterprise is reducing sales cycle is reducing sales cycle is reducing sales cycle yes i mean that's a r that's you know yes i mean that's a r that's you know yes i mean that's a r that's you know there's like there's like there's like david heller in batch one with three b's david heller in batch one with three b's david heller in batch one with three b's doing enterprise sales like there is a doing enterprise sales like there is a doing enterprise sales like there is a huge number of our huge number of our huge number of our uh founders who are doing enterprise uh founders who are doing enterprise uh founders who are doing enterprise sales and we have best practices we sales and we have best practices we sales and we have best practices we jump in slack someone asks a question jump in slack someone asks a question jump in slack someone asks a question it's like oh here's that thread where we

it's like oh here's that thread where we it's like oh here's that thread where we addressed exactly how to do this six addressed exactly how to do this six addressed exactly how to do this six months ago or whatever so months ago or whatever so months ago or whatever so a lot of good stuff there anil gupta a lot of good stuff there anil gupta a lot of good stuff there anil gupta says says says how does it work if there is already a how does it work if there is already a how does it work if there is already a company outside the u.s company outside the u.s company outside the u.s do we need to roll it up into a new do we need to roll it up into a new do we need to roll it up into a new company in the u.s or can we have some company in the u.s or can we have some company in the u.s or can we have some kind of mutually exclusive agreement kind of mutually exclusive agreement kind of mutually exclusive agreement between the two companies between the two companies between the two companies um you can't just do a mutually um you can't just do a mutually um you can't just do a mutually exclusive agreement like a licensing or exclusive agreement like a licensing or exclusive agreement like a licensing or something something something there has to be because we own equity in there has to be because we own equity in there has to be because we own equity in an entity an entity an entity and there can't be a legal way for you and there can't be a legal way for you and there can't be a legal way for you to like funnel money out of that entity to like funnel money out of that entity to like funnel money out of that entity and so i i don't know i'm not a lawyer and so i i don't know i'm not a lawyer and so i i don't know i'm not a lawyer um um um we have had companies with form another we have had companies with form another we have had companies with form another you know they're in a foreign you know they're in a foreign you know they're in a foreign uh jurisdiction and they form a u.s or a uh jurisdiction and they form a u.s or a uh jurisdiction and they form a u.s or a canadian one and they link that one owns canadian one and they link that one owns canadian one and they link that one owns the other one it's a wholly owned the other one it's a wholly owned the other one it's a wholly owned subsidiary or something like that subsidiary or something like that subsidiary or something like that so it's it's all possible uh yeah and so it's it's all possible uh yeah and so it's it's all possible uh yeah and then that's what these situations then that's what these situations then that's what these situations like we have a lauren ernst you loop in like we have a lauren ernst you loop in like we have a lauren ernst you loop in your lawyer on your end like if we your lawyer on your end like if we your lawyer on your end like if we extend an offer extend an offer extend an offer we can kind of figure out what's the we can kind of figure out what's the we can kind of figure out what's the best way to proceed forward so best way to proceed forward so best way to proceed forward so these kind of situations aren't these kind of situations aren't these kind of situations aren't necessarily a blocker to being necessarily a blocker to being necessarily a blocker to being investment it's again it's just the investment it's again it's just the investment it's again it's just the start of a conversation start of a conversation start of a conversation and we're happy to kind of work through and we're happy to kind of work through and we're happy to kind of work through what it would take for us to invest in what it would take for us to invest in what it would take for us to invest in you and we can have that conversation at you and we can have that conversation at you and we can have that conversation at that point that point that point luke porter asks we've been trading luke porter asks we've been trading luke porter asks we've been trading since 2013.

since 2013. since 2013. that means in business for those who that means in business for those who that means in business for those who aren't up with the uk lingo aren't up with the uk lingo aren't up with the uk lingo we're doing 118k mrr but we want to grow we're doing 118k mrr but we want to grow we're doing 118k mrr but we want to grow and have help recruiting people to take and have help recruiting people to take and have help recruiting people to take the business forward um the business forward um the business forward um with us being around for so long would with us being around for so long would with us being around for so long would we be considered or is it more for we be considered or is it more for we be considered or is it more for initial startups that have been going initial startups that have been going initial startups that have been going for one to two years for one to two years for one to two years tracy i was gonna say that sounds great tracy i was gonna say that sounds great tracy i was gonna say that sounds great that sounds amazing yeah the time you that sounds amazing yeah the time you that sounds amazing yeah the time you see program i think a lot of it is see program i think a lot of it is see program i think a lot of it is like why we're relying on not just like why we're relying on not just like why we're relying on not just investment why we have the education investment why we have the education investment why we have the education and the component and all the mentorship and the component and all the mentorship and the component and all the mentorship and advice and all the hands-on work and advice and all the hands-on work and advice and all the hands-on work that we do with these companies because that we do with these companies because that we do with these companies because a lot of people can roll in a lot of people can roll in a lot of people can roll in saying like hey we've been rolling for a saying like hey we've been rolling for a saying like hey we've been rolling for a long time we don't see where our long time we don't see where our long time we don't see where our weaknesses are and we can help you find weaknesses are and we can help you find weaknesses are and we can help you find those weaknesses and fix those those weaknesses and fix those those weaknesses and fix those weaknesses and hopefully get you to weaknesses and hopefully get you to weaknesses and hopefully get you to you know again escape velocity get you you know again escape velocity get you you know again escape velocity get you to the next level yep so really the age to the next level yep so really the age to the next level yep so really the age of the company is of the company is of the company is is not relevant we we do that is not a is not relevant we we do that is not a is not relevant we we do that is not a factor you know in the big factor you know in the big factor you know in the big spreadsheet or the big list of things we spreadsheet or the big list of things we spreadsheet or the big list of things we look at we don't i mean we ask how long look at we don't i mean we ask how long look at we don't i mean we ask how long but it doesn't really matter the only but it doesn't really matter the only but it doesn't really matter the only thing it impacts i think is if your thing it impacts i think is if your thing it impacts i think is if your growth rate has been stagnant for years growth rate has been stagnant for years growth rate has been stagnant for years we'll ask why is that and then we'll ask why is that and then we'll ask why is that and then how can we help you we want to know how how can we help you we want to know how how can we help you we want to know how we can help you get out of that because we can help you get out of that because we can help you get out of that because otherwise otherwise otherwise it you shouldn't be selling us equity it you shouldn't be selling us equity it you shouldn't be selling us equity and we shouldn't be investing if we and we shouldn't be investing if we and we shouldn't be investing if we don't think we can actually don't think we can actually don't think we can actually help you break out of that so good help you break out of that so good help you break out of that so good question udit question udit question udit asks will tiny seed help us in raising a asks will tiny seed help us in raising a asks will tiny seed help us in raising a series a in the future series a in the future series a in the future and is the percentage of equity and is the percentage of equity and is the percentage of equity negotiable with tiny seed so we have had negotiable with tiny seed so we have had negotiable with tiny seed so we have had the answer is the answer is the answer is if you want to raise follow-on funding if you want to raise follow-on funding if you want to raise follow-on funding usually it's a pre-seed round usually it's a pre-seed round usually it's a pre-seed round usually you start with an accelerated usually you start with an accelerated usually you start with an accelerated round then a pre-seed then a seed then a round then a pre-seed then a seed then a round then a pre-seed then a seed then a series a series a series a series a's are like 10 million now so series a's are like 10 million now so series a's are like 10 million now so the the the the the the nomenclature has changed but all that nomenclature has changed but all that nomenclature has changed but all that said if you're talking about raising

said if you're talking about raising said if you're talking about raising another half million another half million another half million or a million dollars in the future or or a million dollars in the future or or a million dollars in the future or even more than that yes we will even more than that yes we will even more than that yes we will assist we have had we obviously don't do assist we have had we obviously don't do assist we have had we obviously don't do it for you you have to create a deck and it for you you have to create a deck and it for you you have to create a deck and you're you're you're channeling investors um and we channeling investors um and we channeling investors um and we have had several founders raise have had several founders raise have had several founders raise additional funding additional funding additional funding after chinese right something like that after chinese right something like that after chinese right something like that yeah yeah yeah yeah it's a it's a large number and yeah it's a it's a large number and yeah it's a it's a large number and that's a thing tiny seats terms that's a thing tiny seats terms that's a thing tiny seats terms we want to give you optionality if you we want to give you optionality if you we want to give you optionality if you never want to raise again never want to raise again never want to raise again great you want to run a profitable great you want to run a profitable great you want to run a profitable business pull dividends out great if you business pull dividends out great if you business pull dividends out great if you want to sell it for 10 million bucks want to sell it for 10 million bucks want to sell it for 10 million bucks great if you want to go on a raise a great if you want to go on a raise a great if you want to go on a raise a precede or a series a or even you know precede or a series a or even you know precede or a series a or even you know go on the venture track go on the venture track go on the venture track cool our terms allow for all of that and cool our terms allow for all of that and cool our terms allow for all of that and we will support you know the decision we will support you know the decision we will support you know the decision you make you make you make um phil dearson says for successful um phil dearson says for successful um phil dearson says for successful accelerator participants outside the accelerator participants outside the accelerator participants outside the united states united states united states is there any help provided in to form is there any help provided in to form is there any help provided in to form that that that delaware corp what do we have for free delaware corp what do we have for free delaware corp what do we have for free as a tiny seat perk as a tiny seat perk as a tiny seat perk i mean we our lawyer has helped with i mean we our lawyer has helped with i mean we our lawyer has helped with finding other lawyers helping people finding other lawyers helping people finding other lawyers helping people find like a local council for them find like a local council for them find like a local council for them nope stripe atlas oh and try padless of nope stripe atlas oh and try padless of nope stripe atlas oh and try padless of course yes course yes course yes there we go i was i was that was like a there we go i was i was that was like a there we go i was i was that was like a bump set i was just waiting for you to bump set i was just waiting for you to bump set i was just waiting for you to i know and i'm working on it so we have i know and i'm working on it so we have i know and i'm working on it so we have stripped out i really like our lawyer so stripped out i really like our lawyer so stripped out i really like our lawyer so yeah yeah he's so helpful i just want to yeah yeah he's so helpful i just want to yeah yeah he's so helpful i just want to constantly talk about how jay and how constantly talk about how jay and how constantly talk about how jay and how helpful he is but yes we have straight helpful he is but yes we have straight helpful he is but yes we have straight atlas atlas atlas benefits so it's um freeing free benefits so it's um freeing free benefits so it's um freeing free incorporation um through stripe using incorporation um through stripe using incorporation um through stripe using their atlas program um their atlas program um their atlas program um and stripe has made that whole process and stripe has made that whole process and stripe has made that whole process like way simpler than it like way simpler than it like way simpler than it was before yeah yep and normally i

was before yeah yep and normally i was before yeah yep and normally i believe they charge 500 for it but believe they charge 500 for it but believe they charge 500 for it but because we have a partner we have a free because we have a partner we have a free because we have a partner we have a free deal yeah right deal yeah right deal yeah right so um several of our founders so um several of our founders so um several of our founders internationally who've wanted to internationally who've wanted to internationally who've wanted to incorporate abused it and it gives you a incorporate abused it and it gives you a incorporate abused it and it gives you a stripe account stripe account stripe account and a bank account at i forget what the and a bank account at i forget what the and a bank account at i forget what the bank is now but uh and then bank is now but uh and then bank is now but uh and then it might be mercury but don't quote me it might be mercury but don't quote me it might be mercury but don't quote me on that yeah i know i think it changed on that yeah i know i think it changed on that yeah i know i think it changed but it might be we like mercury i like but it might be we like mercury i like but it might be we like mercury i like them them them brian krohn says we have a mobile health brian krohn says we have a mobile health brian krohn says we have a mobile health app that currently is direct to consumer app that currently is direct to consumer app that currently is direct to consumer but b2b is an important channel but b2b is an important channel but b2b is an important channel we want to build out do we need b2b we want to build out do we need b2b we want to build out do we need b2b revenue before we should apply i want to say no i want to say i want to say no i want to say yeah again i err on the side of applying yeah again i err on the side of applying yeah again i err on the side of applying if all things being equal if another if all things being equal if another if all things being equal if another health app applies and they have b2b health app applies and they have b2b health app applies and they have b2b revenue revenue revenue they will have a notch above you but they will have a notch above you but they will have a notch above you but usually all things are not equal usually all things are not equal usually all things are not equal and so i would say especially i mean and so i would say especially i mean and so i would say especially i mean direct-to-consumer revenue is tough direct-to-consumer revenue is tough direct-to-consumer revenue is tough because usually churn is high price because usually churn is high price because usually churn is high price points low points low points low but if look if you have five or 10k of but if look if you have five or 10k of but if look if you have five or 10k of mrr and you can mrr and you can mrr and you can show us that there's an avenue to to b2b show us that there's an avenue to to b2b show us that there's an avenue to to b2b revenue um revenue um revenue um i would say take the 20 minutes let's i would say take the 20 minutes let's i would say take the 20 minutes let's have a car have a car have a car let's apply and you know see if we have let's apply and you know see if we have let's apply and you know see if we have a conversation anil gupta says if we a conversation anil gupta says if we a conversation anil gupta says if we have product market fit in another have product market fit in another have product market fit in another country country country does that qualify we spoke to someone in does that qualify we spoke to someone in does that qualify we spoke to someone in the last batch um the last batch um the last batch um we didn't wind up making them an offer we didn't wind up making them an offer we didn't wind up making them an offer but remember they had uh but remember they had uh but remember they had uh an app in a vertical pretty tight an app in a vertical pretty tight an app in a vertical pretty tight vertical and it was only in vertical and it was only in vertical and it was only in a country like it was like germany or a country like it was like germany or a country like it was like germany or something and so we couldn't even read something and so we couldn't even read something and so we couldn't even read the website right

the website right the website right we were like that's true i mean there's we were like that's true i mean there's we were like that's true i mean there's localizer who localizer who localizer who is largely in the middle east that's is largely in the middle east that's is largely in the middle east that's right so yeah their partner market fits right so yeah their partner market fits right so yeah their partner market fits there there there i mean they're moving north america i mean they're moving north america i mean they're moving north america based but they were primarily in the based but they were primarily in the based but they were primarily in the middle east before applying to tennessee middle east before applying to tennessee middle east before applying to tennessee yep yep yep and um oh man it's all these there's 41 and um oh man it's all these there's 41 and um oh man it's all these there's 41 companies companies companies uh legal it's just got to get worse uh legal it's just got to get worse uh legal it's just got to get worse lexco lexco lexco in south america their whole their whole in south america their whole their whole in south america their whole their whole market is down there so market is down there so market is down there so absolutely yeah we are not uh we are we absolutely yeah we are not uh we are we absolutely yeah we are not uh we are we are a product market fit country are a product market fit country are a product market fit country agnostic agnostic agnostic all right marto alberto del cid portillo all right marto alberto del cid portillo all right marto alberto del cid portillo says i have a small startup generating 4 says i have a small startup generating 4 says i have a small startup generating 4 000 worth of crypto a month from nft 000 worth of crypto a month from nft 000 worth of crypto a month from nft game scholarships would this be a game scholarships would this be a game scholarships would this be a startup for tiny seat even if it doesn't startup for tiny seat even if it doesn't startup for tiny seat even if it doesn't have a software side of things i'm not have a software side of things i'm not have a software side of things i'm not sure sure sure i don't think this is me to be sass yeah i don't think this is me to be sass yeah i don't think this is me to be sass yeah i mean so i mean so i mean so like we don't want to be picky but one like we don't want to be picky but one like we don't want to be picky but one of the reasons why we say be to be sass of the reasons why we say be to be sass of the reasons why we say be to be sass definitely says definitely says definitely says and like largely b2b sauce is because of and like largely b2b sauce is because of and like largely b2b sauce is because of that education that education that education program mentorship our expertise is all program mentorship our expertise is all program mentorship our expertise is all in that area so we want to make sure in that area so we want to make sure in that area so we want to make sure that if you join tinyc we're actually that if you join tinyc we're actually that if you join tinyc we're actually able to help you able to help you able to help you for things like crypto and um crypto we for things like crypto and um crypto we for things like crypto and um crypto we don't have a lot of experience in that don't have a lot of experience in that don't have a lot of experience in that i don't think that would be a right fit i don't think that would be a right fit i don't think that would be a right fit for you i'm not sure a lot of the topics for you i'm not sure a lot of the topics for you i'm not sure a lot of the topics that we go through would actually apply that we go through would actually apply that we go through would actually apply to your business that's the problem to your business that's the problem to your business that's the problem right right right if you look if you have a crypto startup if you look if you have a crypto startup if you look if you have a crypto startup that's like a b2b crypto startup that is that's like a b2b crypto startup that is that's like a b2b crypto startup that is processing payments via crypto or or is processing payments via crypto or or is processing payments via crypto or or is it whatever in exchange just whatever it whatever in exchange just whatever it whatever in exchange just whatever think of whatever b2b think of whatever b2b think of whatever b2b crypto app absolutely if you're a sas crypto app absolutely if you're a sas crypto app absolutely if you're a sas app that involves crypto we would love app that involves crypto we would love app that involves crypto we would love that i'm a big that i'm a big that i'm a big most of us are into crypto in one way or most of us are into crypto in one way or most of us are into crypto in one way or another right on the team

another right on the team another right on the team um i'm married to an expert yeah yeah um i'm married to an expert yeah yeah um i'm married to an expert yeah yeah and a r you know and a r you know and a r you know you know jokes about uh don't follow him you know jokes about uh don't follow him you know jokes about uh don't follow him and all that stuff so we're all about it and all that stuff so we're all about it and all that stuff so we're all about it but yeah if you're generating crypto in but yeah if you're generating crypto in but yeah if you're generating crypto in a kind of a b2c a kind of a b2c a kind of a b2c uh yeah yeah we just want to be able to uh yeah yeah we just want to be able to uh yeah yeah we just want to be able to help and so that would be something that help and so that would be something that help and so that would be something that we we we we would have a hard time i think right we would have a hard time i think right we would have a hard time i think right it's like my advice on it's like my advice on it's like my advice on pricing and marketing funnels isn't pricing and marketing funnels isn't pricing and marketing funnels isn't really gonna going to apply to you really gonna going to apply to you really gonna going to apply to you david shaw says i'm founding a startup david shaw says i'm founding a startup david shaw says i'm founding a startup based in northern ireland uk limited i'd based in northern ireland uk limited i'd based in northern ireland uk limited i'd be keen to register be keen to register be keen to register interest about the eu uk accelerator the interest about the eu uk accelerator the interest about the eu uk accelerator the eu accelerator is it possible to eu accelerator is it possible to eu accelerator is it possible to register interest for that now or would register interest for that now or would register interest for that now or would it be it be it be worth applying for fall 2021 batch and worth applying for fall 2021 batch and worth applying for fall 2021 batch and following the process following the process following the process from there that's a good question from there that's a good question from there that's a good question i mean i so i like to i mean i so i like to i mean i so i like to save applications in our application save applications in our application save applications in our application system and move them over if they make system and move them over if they make system and move them over if they make sense um so i've done that sense um so i've done that sense um so i've done that we had a what we call our mid-batch we had a what we call our mid-batch we had a what we call our mid-batch application that was up and so there's application that was up and so there's application that was up and so there's people who can apply between people who can apply between people who can apply between application processes um and if they're application processes um and if they're application processes um and if they're not a good fit for not a good fit for not a good fit for mid-batch application which is the whole mid-batch application which is the whole mid-batch application which is the whole thing it's a much higher requirements thing it's a much higher requirements thing it's a much higher requirements because it because it because it requires kind of breakout of our like requires kind of breakout of our like requires kind of breakout of our like application model application model application model if they don't match those requirements if they don't match those requirements if they don't match those requirements then often it makes sense to then often it makes sense to then often it makes sense to hold their application until that next hold their application until that next hold their application until that next round round round i don't have a system in place for this i don't have a system in place for this i don't have a system in place for this uk route i would assume that would be uk route i would assume that would be uk route i would assume that would be the way that would go though i just the way that would go though i just the way that would go though i just don't have like the application up we don't have like the application up we don't have like the application up we don't have a timeline yet don't have a timeline yet don't have a timeline yet um because we're still kind of doing the um because we're still kind of doing the um because we're still kind of doing the fundraising uh fundraising uh fundraising uh so i mean feel free to apply and see you so i mean feel free to apply and see you so i mean feel free to apply and see you know we're again we're happy to have

know we're again we're happy to have know we're again we're happy to have that conversation with you that conversation with you that conversation with you um happy to see uh you know um happy to see uh you know um happy to see uh you know talk to you if but if you do indeed want talk to you if but if you do indeed want talk to you if but if you do indeed want to incorporate if you want to wait if to incorporate if you want to wait if to incorporate if you want to wait if you just want to see what the you just want to see what the you just want to see what the application process is like application process is like application process is like um i don't think it would be that big of um i don't think it would be that big of um i don't think it would be that big of an issue right an issue right an issue right and at a minimum minimum and at a minimum minimum and at a minimum minimum tinyseed.com enter your email so that tinyseed.com enter your email so that tinyseed.com enter your email so that you're on that because we're certainly you're on that because we're certainly you're on that because we're certainly going to be announcing going to be announcing going to be announcing that to the list right minimum list is that to the list right minimum list is that to the list right minimum list is always first always first always first um the email list so it's like um the email list so it's like um the email list so it's like everywhere on our website there is an everywhere on our website there is an everywhere on our website there is an email field somewhere email field somewhere email field somewhere um right like i think it's on slash um right like i think it's on slash um right like i think it's on slash apply i think it's in our footer or apply i think it's in our footer or apply i think it's in our footer or whatnot so make sure you're on your whatnot so make sure you're on your whatnot so make sure you're on your email list email list email list and you'll definitely get that first um and you'll definitely get that first um and you'll definitely get that first um first first first announcement of the details of the announcement of the details of the announcement of the details of the program when it's right up program when it's right up program when it's right up right and if you apply we'll chat with right and if you apply we'll chat with right and if you apply we'll chat with you as well um you as well um you as well um kind of a follow-up question uh can you kind of a follow-up question uh can you kind of a follow-up question uh can you i think from a different i think from a different i think from a different asker um can you talk more about your asker um can you talk more about your asker um can you talk more about your european fund i'm not totally opposed to european fund i'm not totally opposed to european fund i'm not totally opposed to converting converting converting to a u.s one but if that can be avoided to a u.s one but if that can be avoided to a u.s one but if that can be avoided that's obviously better would the that's obviously better would the that's obviously better would the mentors on the rest of the program be mentors on the rest of the program be mentors on the rest of the program be exactly the same here uh well they exactly the same here uh well they exactly the same here uh well they they can't be because a people only have they can't be because a people only have they can't be because a people only have so much time so much time so much time and b uh time zones become a little bit and b uh time zones become a little bit and b uh time zones become a little bit of an issue as we dig in so yeah there's of an issue as we dig in so yeah there's of an issue as we dig in so yeah there's gonna be some overlap with mentors gonna be some overlap with mentors gonna be some overlap with mentors um this is another error again we're um this is another error again we're um this is another error again we're still figuring out because the european still figuring out because the european still figuring out because the european one is one is one is a bit far out um we're definitely going a bit far out um we're definitely going a bit far out um we're definitely going to be wanting to have to be wanting to have to be wanting to have definitely going to have european-based definitely going to have european-based definitely going to have european-based mentors um mentors um mentors um because of those time zones because of because of those time zones because of because of those time zones because of the expertise in that local the expertise in that local the expertise in that local culture the local ecosystem um culture the local ecosystem um culture the local ecosystem um and the rest of the program the program

and the rest of the program the program and the rest of the program the program itself when it comes to itself when it comes to itself when it comes to the playbook terms of the cadence the playbook terms of the cadence the playbook terms of the cadence through the year um through the year um through the year um that would probably stay relatively the that would probably stay relatively the that would probably stay relatively the same i think so same i think so same i think so because the playbook is just so good because the playbook is just so good because the playbook is just so good it's something we didn't do for our it's something we didn't do for our it's something we didn't do for our first year we introduced it for our first year we introduced it for our first year we introduced it for our second year second year second year second year went so well then of course second year went so well then of course second year went so well then of course we're doing it this third year it still we're doing it this third year it still we're doing it this third year it still went really well so of course we're went really well so of course we're went really well so of course we're going to replicate that across going to replicate that across going to replicate that across the rest of the accelerators that we've the rest of the accelerators that we've the rest of the accelerators that we've run so one third of the year towards a run so one third of the year towards a run so one third of the year towards a playbook playbook playbook two throws a year bring on those mentors two throws a year bring on those mentors two throws a year bring on those mentors doing events and whatnot doing events and whatnot doing events and whatnot um that model will probably be the same um that model will probably be the same um that model will probably be the same between the two accelerators between the two accelerators between the two accelerators yep that's a good description of it next yep that's a good description of it next yep that's a good description of it next question i have high personal burn as question i have high personal burn as question i have high personal burn as you described it can't avoid that you described it can't avoid that you described it can't avoid that currently to avoid spending all funding currently to avoid spending all funding currently to avoid spending all funding on salary do you have requirements on salary do you have requirements on salary do you have requirements around around around how active founders activities founders how active founders activities founders how active founders activities founders can be evolved in specifically can be evolved in specifically can be evolved in specifically can they also have a day job can they also have a day job can they also have a day job and the answer is yes our requirement is and the answer is yes our requirement is and the answer is yes our requirement is that that that if we're going to give you funding you if we're going to give you funding you if we're going to give you funding you have to be full-time so have to be full-time so have to be full-time so you have to be at a point where that you have to be at a point where that you have to be at a point where that makes sense and all founders makes sense and all founders makes sense and all founders who um want to raise the funding need to who um want to raise the funding need to who um want to raise the funding need to go go go uh full-time so if we get into different uh full-time so if we get into different uh full-time so if we get into different things where like there was a found one things where like there was a found one things where like there was a found one founder there were two co-founders and founder there were two co-founders and founder there were two co-founders and one didn't want to go full-time because one didn't want to go full-time because one didn't want to go full-time because they had this great consulting practice they had this great consulting practice they had this great consulting practice and so we gave them the funding and so we gave them the funding and so we gave them the funding for one founder that's that's just how for one founder that's that's just how for one founder that's that's just how it works we can't it works we can't it works we can't can't fund people to work a day job in can't fund people to work a day job in can't fund people to work a day job in essence right i mean the whole point of essence right i mean the whole point of essence right i mean the whole point of this is that you are this is that you are this is that you are uh gives you the leeway to focus uh gives you the leeway to focus uh gives you the leeway to focus full-time and and to make some slightly full-time and and to make some slightly full-time and and to make some slightly bigger bets than if you were truly uh bigger bets than if you were truly uh bigger bets than if you were truly uh still bootstrapped and i want to say i still bootstrapped and i want to say i still bootstrapped and i want to say i i'm pretty sure the question wasn't

i'm pretty sure the question wasn't i'm pretty sure the question wasn't asking this um it says do your asking this um it says do your asking this um it says do your requirements on activities consumers can requirements on activities consumers can requirements on activities consumers can evolve and i assume that means evolve and i assume that means evolve and i assume that means outside the accelerator but just be just outside the accelerator but just be just outside the accelerator but just be just to make sure to make sure to make sure um everything that the accelerator plans um everything that the accelerator plans um everything that the accelerator plans all of the calls we do and events and all of the calls we do and events and all of the calls we do and events and in-person retreats and want to in-person retreats and want to in-person retreats and want to everything that tiny seat schedules is everything that tiny seat schedules is everything that tiny seat schedules is optional we don't have anything we have optional we don't have anything we have optional we don't have anything we have things that we're like we really want things that we're like we really want things that we're like we really want you to do when microcomps you to do when microcomps you to do when microcomps like say microconf next year we're gonna like say microconf next year we're gonna like say microconf next year we're gonna have um a retreat around that that'd be have um a retreat around that that'd be have um a retreat around that that'd be especially good one to attend because especially good one to attend because especially good one to attend because you have microcoff you get to see people you have microcoff you get to see people you have microcoff you get to see people personal like that personal like that personal like that but it is optional so if if there's but it is optional so if if there's but it is optional so if if there's anyone who is like hey i have a crazy anyone who is like hey i have a crazy anyone who is like hey i have a crazy schedule schedule schedule um i just want to review everything um i just want to review everything um i just want to review everything afterwards that's actually totally okay afterwards that's actually totally okay afterwards that's actually totally okay too um too um too um we don't require we don't have time we don't require we don't have time we don't require we don't have time commitments in tennessee but of course commitments in tennessee but of course commitments in tennessee but of course you know spending the more time you do you know spending the more time you do you know spending the more time you do spend with 1080 i think the more you're spend with 1080 i think the more you're spend with 1080 i think the more you're going to get on the program going to get on the program going to get on the program a question from timmy we're a sas a question from timmy we're a sas a question from timmy we're a sas company we are not yet profitable company we are not yet profitable company we are not yet profitable is that your criteria we have no is that your criteria we have no is that your criteria we have no criteria around profitability criteria around profitability criteria around profitability it is around revenue that's true right it is around revenue that's true right it is around revenue that's true right and and that is the and that is one and and that is the and that is one and and that is the and that is one criteria again that is not the only criteria again that is not the only criteria again that is not the only um so we i think several other um so we i think several other um so we i think several other a lot of companies who've come into tiny a lot of companies who've come into tiny a lot of companies who've come into tiny seat are break even or losing money and seat are break even or losing money and seat are break even or losing money and kind of funding it out of kind of funding it out of kind of funding it out of other activities so um we don't you know other activities so um we don't you know other activities so um we don't you know if you have massive massive burn i think if you have massive massive burn i think if you have massive massive burn i think there was somebody who had raised a big there was somebody who had raised a big there was somebody who had raised a big bucket of money bucket of money bucket of money and was burning through it and had and was burning through it and had and was burning through it and had didn't have a lot of mrr to show for it didn't have a lot of mrr to show for it didn't have a lot of mrr to show for it which is a bad sign right it's like i which is a bad sign right it's like i which is a bad sign right it's like i raised 500 grand and i'm at 5k mrr and raised 500 grand and i'm at 5k mrr and raised 500 grand and i'm at 5k mrr and i'm almost out of money and it's like i'm almost out of money and it's like i'm almost out of money and it's like well well well it's not that you're not profitable it's not that you're not profitable it's not that you're not profitable that's the problem is that you spent a that's the problem is that you spent a that's the problem is that you spent a lot of money and didn't get any traction lot of money and didn't get any traction lot of money and didn't get any traction that's kind of a signal so

that's kind of a signal so that's kind of a signal so um thanks for the question on that timmy um thanks for the question on that timmy um thanks for the question on that timmy matt zuner says can you say a bit about matt zuner says can you say a bit about matt zuner says can you say a bit about how you think about unfair advantages i how you think about unfair advantages i how you think about unfair advantages i feel like none of the official feel like none of the official feel like none of the official four unfair advantages trademark apply four unfair advantages trademark apply four unfair advantages trademark apply to me he's referring to a microcomp talk to me he's referring to a microcomp talk to me he's referring to a microcomp talk i did several years ago i did several years ago i did several years ago so the unfair advantages for faster sas so the unfair advantages for faster sas so the unfair advantages for faster sas growth are just that growth are just that growth are just that they're for the really fast growing they're for the really fast growing they're for the really fast growing companies the bare metrics the drips the companies the bare metrics the drips the companies the bare metrics the drips the um i'm trying to think of who else was um i'm trying to think of who else was um i'm trying to think of who else was in that talk uh like woo themes in that talk uh like woo themes in that talk uh like woo themes woocommerce i mean these are companies woocommerce i mean these are companies woocommerce i mean these are companies that grew exceptionally fast that grew exceptionally fast that grew exceptionally fast it's great to have one of them it's not it's great to have one of them it's not it's great to have one of them it's not a requirement we we have a lot of a requirement we we have a lot of a requirement we we have a lot of companies coming in that that don't have companies coming in that that don't have companies coming in that that don't have them them them um it comes back to that people for you um it comes back to that people for you um it comes back to that people for you know product market fit know product market fit know product market fit and uh and and price sensitivity plus and uh and and price sensitivity plus and uh and and price sensitivity plus plus the other stuff plus the other stuff plus the other stuff ranjit goshal says ranjit goshal says ranjit goshal says in terms of uk companies we can use in terms of uk companies we can use in terms of uk companies we can use stripe atlas to have a u.s entity stripe atlas to have a u.s entity stripe atlas to have a u.s entity question mark question mark question mark yes and if necessary headquarters based yes and if necessary headquarters based yes and if necessary headquarters based in north america you don't need a in north america you don't need a in north america you don't need a headquarters based in north america yeah headquarters based in north america yeah headquarters based in north america yeah we have several folks who have no we have several folks who have no we have several folks who have no no headquarters based here no headquarters based here no headquarters based here um so we have some we have some bolded um so we have some we have some bolded um so we have some we have some bolded questions are these ones that we want to questions are these ones that we want to questions are these ones that we want to get to get to get to i folded the ones that i want to get to i folded the ones that i want to get to i folded the ones that i want to get to yes okay cool that would make things yes okay cool that would make things yes okay cool that would make things easier easier easier yeah yeah great devin patrick what if we yeah yeah great devin patrick what if we yeah yeah great devin patrick what if we have product market fit for one segment have product market fit for one segment have product market fit for one segment of the market of the market of the market small medium-sized businesses or smbs small medium-sized businesses or smbs small medium-sized businesses or smbs but are going up market to the but are going up market to the but are going up market to the enterprise and haven't closed enterprise and haven't closed enterprise and haven't closed one of those deals yet what do you think one of those deals yet what do you think one of those deals yet what do you think about that tracy about that tracy about that tracy um i feel like that's worth an um i feel like that's worth an um i feel like that's worth an application definitely um application definitely um application definitely um like especially if you have a product like especially if you have a product like especially if you have a product market fit for one segment of the market market fit for one segment of the market market fit for one segment of the market that that's that that's that that's awesome that's true you have need in

awesome that's true you have need in awesome that's true you have need in that market a lot of people join that market a lot of people join that market a lot of people join tennessee tennessee tennessee you know primarily selling you know to you know primarily selling you know to you know primarily selling you know to smaller businesses and then they move smaller businesses and then they move smaller businesses and then they move into doing enterprise into doing enterprise into doing enterprise once they get the advice and help but once they get the advice and help but once they get the advice and help but not from tennessee so that's awesome not from tennessee so that's awesome not from tennessee so that's awesome udit says do you accept sas marketplaces udit says do you accept sas marketplaces udit says do you accept sas marketplaces or is it only sas companies we've done or is it only sas companies we've done or is it only sas companies we've done around four million in sales around four million in sales around four million in sales in three years on our platform now in three years on our platform now in three years on our platform now looking for help taken to a new level looking for help taken to a new level looking for help taken to a new level so we accept we when we originally so we accept we when we originally so we accept we when we originally launched we said subscription launched we said subscription launched we said subscription software and we have absolutely talked software and we have absolutely talked software and we have absolutely talked to marketplaces what we don't do is talk to marketplaces what we don't do is talk to marketplaces what we don't do is talk to marketplaces who have to marketplaces who have to marketplaces who have 400 in revenue or marketplaces who have 400 in revenue or marketplaces who have 400 in revenue or marketplaces who have not only one side of the marketplace not only one side of the marketplace not only one side of the marketplace marketplace are very hard to do but if marketplace are very hard to do but if marketplace are very hard to do but if you've done four million in you've done four million in you've done four million in sales across it i would then ask so what sales across it i would then ask so what sales across it i would then ask so what was your revenue on that because if your was your revenue on that because if your was your revenue on that because if your revenue was zero revenue was zero revenue was zero then you need to get to the point where then you need to get to the point where then you need to get to the point where you have some revenue you just have to you have some revenue you just have to you have some revenue you just have to prove that there prove that there prove that there is you know a willingness to pay for it is you know a willingness to pay for it is you know a willingness to pay for it but um but um but um it is it is not a non-starter it is a it is it is not a non-starter it is a it is it is not a non-starter it is a starter starter starter for us if um yeah you know what i mean for us if um yeah you know what i mean for us if um yeah you know what i mean it's yeah uh if you like the application it's yeah uh if you like the application it's yeah uh if you like the application what are next what are next what are next oh that's a good question mihai says if oh that's a good question mihai says if oh that's a good question mihai says if you like the application what are the you like the application what are the you like the application what are the next steps next steps next steps tracy reaches out right yeah so you know tracy reaches out right yeah so you know tracy reaches out right yeah so you know with your with your with your applications to tennessee through the applications to tennessee through the applications to tennessee through the submittable platform submittable platform submittable platform uh we start reviewing um the it just uh we start reviewing um the it just uh we start reviewing um the it just opened up yesterday we're going to start opened up yesterday we're going to start opened up yesterday we're going to start reviewing reviewing reviewing like fully reviewing next week

like fully reviewing next week like fully reviewing next week um first one to say is that you're going um first one to say is that you're going um first one to say is that you're going to get a response from us to get a response from us to get a response from us um so if it's not a good fit for tiny um so if it's not a good fit for tiny um so if it's not a good fit for tiny seed and you haven't heard seed and you haven't heard seed and you haven't heard sorry if you haven't gotten a response sorry if you haven't gotten a response sorry if you haven't gotten a response from tennessee it still means you are in from tennessee it still means you are in from tennessee it still means you are in the process of being reviewed the process of being reviewed the process of being reviewed um you will get an email saying you're um you will get an email saying you're um you will get an email saying you're not a good fit at some point so we're not a good fit at some point so we're not a good fit at some point so we're not gonna ghost you not gonna ghost you not gonna ghost you we're totally gonna respond to every we're totally gonna respond to every we're totally gonna respond to every single application that comes in single application that comes in single application that comes in um if you are a good fit then the use um if you are a good fit then the use um if you are a good fit then the use the first step is having a call with me the first step is having a call with me the first step is having a call with me i i call my calls like application part i i call my calls like application part i i call my calls like application part two so i ask more questions that two so i ask more questions that two so i ask more questions that are kind of like basic questions like are kind of like basic questions like are kind of like basic questions like how did you get started with the company how did you get started with the company how did you get started with the company what kind of led to the idea what led to what kind of led to the idea what led to what kind of led to the idea what led to you you you you starting this product um what else you starting this product um what else you starting this product um what else do i ask i ask uh do i ask i ask uh do i ask i ask uh uh what are the marketing channels that uh what are the marketing channels that uh what are the marketing channels that you're using what are the because of the you're using what are the because of the you're using what are the because of the marketing channels they're looking to marketing channels they're looking to marketing channels they're looking to use in the next six use in the next six use in the next six six or so months so i ask them you know six or so months so i ask them you know six or so months so i ask them you know totally easy totally easy totally easy questions um it's things that we want questions um it's things that we want questions um it's things that we want kind of want to know more about your kind of want to know more about your kind of want to know more about your business business business they want to put in the application and they want to put in the application and they want to put in the application and make the applications larger take up make the applications larger take up make the applications larger take up more of your time especially since we more of your time especially since we more of your time especially since we know that there's going to be a large know that there's going to be a large know that there's going to be a large chunk of applications that are not a chunk of applications that are not a chunk of applications that are not a good fit don't want to waste your time good fit don't want to waste your time good fit don't want to waste your time so you get a call with me the next step so you get a call with me the next step so you get a call with me the next step uh we'll be doing a call with robin uh we'll be doing a call with robin uh we'll be doing a call with robin aynor aynor aynor rob do you want to kind of explain how rob do you want to kind of explain how rob do you want to kind of explain how that goes on your end yeah i mean each that goes on your end yeah i mean each that goes on your end yeah i mean each of these is a filtering step obviously of these is a filtering step obviously of these is a filtering step obviously some some some folks talk to tracy and you know don't folks talk to tracy and you know don't folks talk to tracy and you know don't don't make it along to the next step but don't make it along to the next step but don't make it along to the next step but then then then anar and i we look at all the anar and i we look at all the anar and i we look at all the information that tracy has put down and information that tracy has put down and information that tracy has put down and then look at your application and then then look at your application and then then look at your application and then we ask questions that we have you know we ask questions that we have you know we ask questions that we have you know we've we've seen we've we've seen we've we've seen yeah you guys dig into you know i ask yeah you guys dig into you know i ask yeah you guys dig into you know i ask like these broad questions and then you like these broad questions and then you like these broad questions and then you kind of dig into specifics kind of dig into specifics kind of dig into specifics yeah and it's it's we've looked at yeah and it's it's we've looked at yeah and it's it's we've looked at literally thousands of applications you

literally thousands of applications you literally thousands of applications you know know know and and invested in you know again and and invested in you know again and and invested in you know again between my investments and between my investments and between my investments and private ones in tiny seed i'm over 60 private ones in tiny seed i'm over 60 private ones in tiny seed i'm over 60 and that'll be over 80 here in the next and that'll be over 80 here in the next and that'll be over 80 here in the next uh uh uh month or two right that's a lot it's a month or two right that's a lot it's a month or two right that's a lot it's a lot of companies and so we're going to lot of companies and so we're going to lot of companies and so we're going to ask questions based on things we've seen ask questions based on things we've seen ask questions based on things we've seen in the past in the past in the past but also i like to be educated about but also i like to be educated about but also i like to be educated about things that i don't know about so it's things that i don't know about so it's things that i don't know about so it's oftentimes founders will educate us oftentimes founders will educate us oftentimes founders will educate us about a vertical or about about a vertical or about about a vertical or about um you know a method they're using or an um you know a method they're using or an um you know a method they're using or an approach they're using and that you know approach they're using and that you know approach they're using and that you know it can be it can be it can be intriguing to um i guess we have our intriguing to um i guess we have our intriguing to um i guess we have our impressions of how things should look impressions of how things should look impressions of how things should look and i'm you know and i'm you know and i'm you know we're just having a conversation about we're just having a conversation about we're just having a conversation about learning more about your business and learning more about your business and learning more about your business and again again again are you fit for tiny seed and is tiny are you fit for tiny seed and is tiny are you fit for tiny seed and is tiny fit for you can we help you do we think fit for you can we help you do we think fit for you can we help you do we think we can accept we can accept we can accept your growth right because if you know we your growth right because if you know we your growth right because if you know we don't want to be those vcs they're just don't want to be those vcs they're just don't want to be those vcs they're just like just tell us how awesome we are no like just tell us how awesome we are no like just tell us how awesome we are no like like like seriously we want like we're here to seriously we want like we're here to seriously we want like we're here to like really help like really help like really help take you to the next level and we have take you to the next level and we have take you to the next level and we have to ask these questions also to make sure to ask these questions also to make sure to ask these questions also to make sure that we're a good fit for you that we're a good fit for you that we're a good fit for you yep kim has a question what do you look yep kim has a question what do you look yep kim has a question what do you look for for for as an exit for tiny seed as an exit for tiny seed as an exit for tiny seed so we had our first acquisition in the so we had our first acquisition in the so we had our first acquisition in the last batch which was really awesome last batch which was really awesome last batch which was really awesome yeah we've only been around for a few yeah we've only been around for a few yeah we've only been around for a few years and so it's really awesome to have years and so it's really awesome to have years and so it's really awesome to have like say the first exit like say the first exit like say the first exit yeah i mean it's kind of a hard question yeah i mean it's kind of a hard question yeah i mean it's kind of a hard question because because because certain founders don't want to exit and certain founders don't want to exit and certain founders don't want to exit and say that you know that's okay we have we say that you know that's okay we have we say that you know that's okay we have we have someone in batch one who i think is have someone in batch one who i think is have someone in batch one who i think is gonna start cutting dividends soon which gonna start cutting dividends soon which gonna start cutting dividends soon which is fun is fun is fun um i i think that um i i think that um i i think that you know traditional vcs it's like if you know traditional vcs it's like if you know traditional vcs it's like if you don't sell for a billion then it's a you don't sell for a billion then it's a you don't sell for a billion then it's a big failure because it doesn't return big failure because it doesn't return big failure because it doesn't return their fund and they need you know they their fund and they need you know they their fund and they need you know they need you to keep going need you to keep going need you to keep going and we're not we're not necessarily in and we're not we're not necessarily in and we're not we're not necessarily in that same same boat um

that same same boat um that same same boat um or we're not in that same boat period i or we're not in that same boat period i or we're not in that same boat period i also say if you want to know what kind also say if you want to know what kind also say if you want to know what kind of boat we're in of boat we're in of boat we're in if you go to slash invest on our website if you go to slash invest on our website if you go to slash invest on our website tennessee.com invest you can read our tennessee.com invest you can read our tennessee.com invest you can read our investment thesis the thing that we give investment thesis the thing that we give investment thesis the thing that we give to investors in tinyu that kind of to investors in tinyu that kind of to investors in tinyu that kind of explain why our model works and explain why our model works and explain why our model works and to get people to invest in us so you can to get people to invest in us so you can to get people to invest in us so you can kind of read about our kind of read about our kind of read about our the way that we look at the business on the way that we look at the business on the way that we look at the business on that side of things if that's helpful that side of things if that's helpful that side of things if that's helpful yeah and i think it less about um exit yeah and i think it less about um exit yeah and i think it less about um exit goals and i think more about revenue goals and i think more about revenue goals and i think more about revenue goals like if someone comes to me and goals like if someone comes to me and goals like if someone comes to me and they say am i fit for tiny seed one of they say am i fit for tiny seed one of they say am i fit for tiny seed one of the questions i ask is do you want to the questions i ask is do you want to the questions i ask is do you want to build a seven build a seven build a seven or eight figure arr sas company meaning or eight figure arr sas company meaning or eight figure arr sas company meaning do you want to build a one do you want to build a one do you want to build a one to thirty million dollar you know to thirty million dollar you know to thirty million dollar you know bootstrap mostly bootstrap sas company bootstrap mostly bootstrap sas company bootstrap mostly bootstrap sas company the answer is yes then you know then the answer is yes then you know then the answer is yes then you know then let's talk and figure out if you're fit let's talk and figure out if you're fit let's talk and figure out if you're fit if you want to build an amazing 500 000 if you want to build an amazing 500 000 if you want to build an amazing 500 000 a year lifestyle business a year lifestyle business a year lifestyle business great i've done it it's [ __ ] amazing great i've done it it's [ __ ] amazing great i've done it it's [ __ ] amazing like go do that but but you're not a fit like go do that but but you're not a fit like go do that but but you're not a fit for tiny seat you know you're not going for tiny seat you know you're not going for tiny seat you know you're not going to be to be to be at the uh whatever the exit multiple or at the uh whatever the exit multiple or at the uh whatever the exit multiple or the um the um the um you know the profit that's going to make you know the profit that's going to make you know the profit that's going to make sense for any fund sense for any fund sense for any fund to invest in you yeah i got a question to invest in you yeah i got a question to invest in you yeah i got a question actually recently from someone asking if actually recently from someone asking if actually recently from someone asking if we invest in open source businesses and we invest in open source businesses and we invest in open source businesses and that kind of that kind of that kind of leads no you know open source business i leads no you know open source business i leads no you know open source business i think is actually fine it just depends think is actually fine it just depends think is actually fine it just depends again on that path again on that path again on that path are you going to go to the seven figure are you going to go to the seven figure are you going to go to the seven figure business or is it something that business or is it something that business or is it something that you know that's that's not your goal is you know that's that's not your goal is you know that's that's not your goal is that a girl or not so that a girl or not so that a girl or not so you know it i think that is actually you know it i think that is actually you know it i think that is actually applicable to a lot of different um applicable to a lot of different um applicable to a lot of different um questions we get yep um last question questions we get yep um last question questions we get yep um last question at least on the books right now we have at least on the books right now we have at least on the books right now we have four more minutes so let's let's crank four more minutes so let's let's crank four more minutes so let's let's crank through this one oh and of course

through this one oh and of course through this one oh and of course now xander yeah all right which is great now xander yeah all right which is great now xander yeah all right which is great cara we will end on time caroline reagan cara we will end on time caroline reagan cara we will end on time caroline reagan thanks for your question can you thanks for your question can you thanks for your question can you elaborate on how you compare to other elaborate on how you compare to other elaborate on how you compare to other types of funding and what your value types of funding and what your value types of funding and what your value prop is prop is prop is i could be out of touch with other i could be out of touch with other i could be out of touch with other investment terms but investment terms but investment terms but it seems like your valuations are you it seems like your valuations are you it seems like your valuations are you know lower she kind of says lower know lower she kind of says lower know lower she kind of says lower than other options which is which is than other options which is which is than other options which is which is true if true if true if if you want to if you want to be two if you want to if you want to be two if you want to if you want to be two people in a garage and get 10 million people in a garage and get 10 million people in a garage and get 10 million dollar evaluation with a laptop then you dollar evaluation with a laptop then you dollar evaluation with a laptop then you should go to san diego road you should should go to san diego road you should should go to san diego road you should go to silicon valley right and we're go to silicon valley right and we're go to silicon valley right and we're different than traditional vcs and different than traditional vcs and different than traditional vcs and therefore our terms are different therefore our terms are different therefore our terms are different and the kind of things that we funds and and the kind of things that we funds and and the kind of things that we funds and kind of things that we do are going to kind of things that we do are going to kind of things that we do are going to be different be different be different so those those the terms don't compare so those those the terms don't compare so those those the terms don't compare between this that's right between this that's right between this that's right and and so yeah if you're going to go and and so yeah if you're going to go and and so yeah if you're going to go the venture track you it's like you're the venture track you it's like you're the venture track you it's like you're on the track to be 100 or on the track to be 100 or on the track to be 100 or 100 million or a billion dollar company 100 million or a billion dollar company 100 million or a billion dollar company grow bigger go home grow bigger go home grow bigger go home raise funding every 18 months and that's raise funding every 18 months and that's raise funding every 18 months and that's not what we are not what we are not what we are and for our model to work you know you and for our model to work you know you and for our model to work you know you think about we are a two-sided think about we are a two-sided think about we are a two-sided marketplace we have to have terms that marketplace we have to have terms that marketplace we have to have terms that are acceptable to founders which are acceptable to founders which are acceptable to founders which um we've obviously proven by having a um we've obviously proven by having a um we've obviously proven by having a lot of founders accept our terms and be lot of founders accept our terms and be lot of founders accept our terms and be very happy with them very happy with them very happy with them the terms themselves the core of them the terms themselves the core of them the terms themselves the core of them were um they came were um they came were um they came rand fishkin founder of moz left his rand fishkin founder of moz left his rand fishkin founder of moz left his venture-friendly startup came up with venture-friendly startup came up with venture-friendly startup came up with these terms for his next startup so it's these terms for his next startup so it's these terms for his next startup so it's like by definition like by definition like by definition a founder came up with it for himself a founder came up with it for himself a founder came up with it for himself when he raised money when he raised money when he raised money i had i wrote an angel check for that i i had i wrote an angel check for that i i had i wrote an angel check for that i looked at the terms and as anna and i looked at the terms and as anna and i looked at the terms and as anna and i were coming up with terms we're like were coming up with terms we're like were coming up with terms we're like these are actually really good terms and these are actually really good terms and these are actually really good terms and can we model it so that it also makes can we model it so that it also makes can we model it so that it also makes sense for the other side of our sense for the other side of our sense for the other side of our marketplace which is the investors who marketplace which is the investors who marketplace which is the investors who are investing in us if we don't provide are investing in us if we don't provide are investing in us if we don't provide them return tiny seat goes away yeah them return tiny seat goes away yeah them return tiny seat goes away yeah i think it's worth saying also is like i think it's worth saying also is like i think it's worth saying also is like because you know when you're accepting

because you know when you're accepting because you know when you're accepting terms from a traditional vc those terms terms from a traditional vc those terms terms from a traditional vc those terms are based on the fact that you're now on are based on the fact that you're now on are based on the fact that you're now on the vc roller coaster you have your seed the vc roller coaster you have your seed the vc roller coaster you have your seed you're going to raise your you're going to raise your you're going to raise your your a you're going to raise your b your a you're going to raise your b your a you're going to raise your b you're going to have to exit for 10 you're going to have to exit for 10 you're going to have to exit for 10 million dollars million dollars million dollars ties these terms are set up so that you ties these terms are set up so that you ties these terms are set up so that you have have have a lot more options in the way that you a lot more options in the way that you a lot more options in the way that you grow your company the terms are set up grow your company the terms are set up grow your company the terms are set up so you can just continue to so you can just continue to so you can just continue to run your business don't raise any extra run your business don't raise any extra run your business don't raise any extra money run your business forever money run your business forever money run your business forever issue dividends at some point um or issue dividends at some point um or issue dividends at some point um or they're set up to they're set up to they're set up to be still allow you to raise money be still allow you to raise money be still allow you to raise money afterwards or you know choose any of afterwards or you know choose any of afterwards or you know choose any of these other options these other options these other options so it's kind of like they're the terms so it's kind of like they're the terms so it's kind of like they're the terms are also different because they give you are also different because they give you are also different because they give you more optionality more optionality more optionality right and could you go to a group of right and could you go to a group of right and could you go to a group of angels and angels and angels and raise money at a higher valuation than a raise money at a higher valuation than a raise money at a higher valuation than a tiny seed tiny seed tiny seed yeah i think so especially if you are if yeah i think so especially if you are if yeah i think so especially if you are if if you have a really good network if you have a really good network if you have a really good network are they is the dentist down the street are they is the dentist down the street are they is the dentist down the street or the angel investor who's done five or the angel investor who's done five or the angel investor who's done five angel investments are they gonna have a angel investments are they gonna have a angel investments are they gonna have a year-long program with in-person year-long program with in-person year-long program with in-person retreats with 40 retreats with 40 retreats with 40 literally world-class mentors like some literally world-class mentors like some literally world-class mentors like some of the best in sas of the best in sas of the best in sas in every respect at your beck and call in every respect at your beck and call in every respect at your beck and call to drop an email or to have a chat to drop an email or to have a chat to drop an email or to have a chat i'm exaggerating there but and and have i'm exaggerating there but and and have i'm exaggerating there but and and have weekly mastermind we match you up with weekly mastermind we match you up with weekly mastermind we match you up with folks we have our tiny seat play but you folks we have our tiny seat play but you folks we have our tiny seat play but you know on and on and on know on and on and on know on and on and on if you don't need any of that if you if you don't need any of that if you if you don't need any of that if you don't need the mentorship the guidance don't need the mentorship the guidance don't need the mentorship the guidance the network and you just want money the network and you just want money the network and you just want money you should not you should not come here you should not you should not come here you should not you should not come here you know like that our value you know like that our value you know like that our value is so much more and actually say we have is so much more and actually say we have is so much more and actually say we have a year-long program as compared to a year-long program as compared to a year-long program as compared to typically a three-month program as well typically a three-month program as well typically a three-month program as well and because we want to extend all this and because we want to extend all this and because we want to extend all this advice through a full year advice through a full year advice through a full year um rather than cramming into like one

um rather than cramming into like one um rather than cramming into like one three-month sprint because it also three-month sprint because it also three-month sprint because it also really matters to us that we're good really matters to us that we're good really matters to us that we're good work life matter work life matter work life matter good work life balance matters a lot to good work life balance matters a lot to good work life balance matters a lot to us and so we didn't want to do like a us and so we didn't want to do like a us and so we didn't want to do like a crazy three-month sprint like some of crazy three-month sprint like some of crazy three-month sprint like some of these other accelerators these other accelerators these other accelerators we have a full year to kind of like get we have a full year to kind of like get we have a full year to kind of like get these things in place to help you these things in place to help you these things in place to help you kind of watch you grow yep and then i kind of watch you grow yep and then i kind of watch you grow yep and then i think the last question we'll take today think the last question we'll take today think the last question we'll take today because we're at the hour but i like because we're at the hour but i like because we're at the hour but i like that it's caroline's follow-up to that that it's caroline's follow-up to that that it's caroline's follow-up to that question she says can you elaborate on question she says can you elaborate on question she says can you elaborate on why i would choose why i would choose why i would choose tiny seed rather than crowd funding or a tiny seed rather than crowd funding or a tiny seed rather than crowd funding or a revenue based revenue based revenue based loan and the first part is what we just loan and the first part is what we just loan and the first part is what we just said is like crowdfunding and a said is like crowdfunding and a said is like crowdfunding and a revenue-based loan doesn't get you revenue-based loan doesn't get you revenue-based loan doesn't get you all of that which again i in my opinion all of that which again i in my opinion all of that which again i in my opinion is more valuable than the money itself is more valuable than the money itself is more valuable than the money itself the other answers though is crowdfunding the other answers though is crowdfunding the other answers though is crowdfunding puts a heck of a lot of people on your puts a heck of a lot of people on your puts a heck of a lot of people on your cap table with small investments usually cap table with small investments usually cap table with small investments usually unsophisticated investors and it can be unsophisticated investors and it can be unsophisticated investors and it can be um a challenge to manage over the long um a challenge to manage over the long um a challenge to manage over the long term uh i will say term uh i will say term uh i will say well but and also if you don't have an well but and also if you don't have an well but and also if you don't have an audience audience audience um you can't just go and raise instant um you can't just go and raise instant um you can't just go and raise instant money as a crowdfund right it's like the money as a crowdfund right it's like the money as a crowdfund right it's like the people we've seen you've seen folks in people we've seen you've seen folks in people we've seen you've seen folks in this this this work that goes into that is when you work that goes into that is when you work that goes into that is when you have an audience it's almost have an audience it's almost have an audience it's almost insurmountable insurmountable insurmountable yeah and everyone if you look at folks yeah and everyone if you look at folks yeah and everyone if you look at folks who raised money through crowdfunding who raised money through crowdfunding who raised money through crowdfunding they all have these big followings and they all have these big followings and they all have these big followings and if you have that if you have that if you have that maybe consider it personally we have we maybe consider it personally we have we maybe consider it personally we have we considered crowdfunding and decided considered crowdfunding and decided considered crowdfunding and decided against it um against it um against it um for a lot for the reasons that uh for a lot for the reasons that uh for a lot for the reasons that uh there's a lot of complexity that that it there's a lot of complexity that that it there's a lot of complexity that that it brings up brings up brings up and it also helped that we you know our and it also helped that we you know our and it also helped that we you know our last fund we were last fund we were last fund we were we raised more than we were right we we raised more than we were right we we raised more than we were right we expected which was awesome expected which was awesome expected which was awesome almost 28 million and then revenue-based almost 28 million and then revenue-based almost 28 million and then revenue-based loans similarly it's like well loans similarly it's like well loans similarly it's like well in order to get rid of anybody's

in order to get rid of anybody's in order to get rid of anybody's financing with anyone you need to be financing with anyone you need to be financing with anyone you need to be about 15 or 20k about 15 or 20k about 15 or 20k mrr and you take out a loan and then mrr and you take out a loan and then mrr and you take out a loan and then you're on the hook for that sometimes you're on the hook for that sometimes you're on the hook for that sometimes there's a personal guarantee um there's a personal guarantee um there's a personal guarantee um which is you know very different than which is you know very different than which is you know very different than this and sometimes there's not but then this and sometimes there's not but then this and sometimes there's not but then at a at a at a clock starts ticking and then they start clock starts ticking and then they start clock starts ticking and then they start taking x percent of your top line taking x percent of your top line taking x percent of your top line revenue revenue revenue out of the business six percent is out of the business six percent is out of the business six percent is usually the number with tinyseed usually the number with tinyseed usually the number with tinyseed you keep as a founder get to choose to you keep as a founder get to choose to you keep as a founder get to choose to keep the money in the business as long keep the money in the business as long keep the money in the business as long as you want you take your salary as you want you take your salary as you want you take your salary up to that cap and it's only when you up to that cap and it's only when you up to that cap and it's only when you take a dividend out above that take a dividend out above that take a dividend out above that and you decide as a founder when to take and you decide as a founder when to take and you decide as a founder when to take it out so if you want to grow your it out so if you want to grow your it out so if you want to grow your business and business and business and not pay our investment back for several not pay our investment back for several not pay our investment back for several years years years you can do that it's a flexibility the you can do that it's a flexibility the you can do that it's a flexibility the founders in control and that's founders in control and that's founders in control and that's that's another i think big difference that's another i think big difference that's another i think big difference with that and like rob said with that and like rob said with that and like rob said we might get our first dividend check we might get our first dividend check we might get our first dividend check soon but um everyone else everyone has soon but um everyone else everyone has soon but um everyone else everyone has been focused on growing their business been focused on growing their business been focused on growing their business and that is totally fine with us and that is totally fine with us and that is totally fine with us that was awesome yeah thanks so much are that was awesome yeah thanks so much are that was awesome yeah thanks so much are great great great questions yeah i know it's super cool we questions yeah i know it's super cool we questions yeah i know it's super cool we were coming into this thinking we did were coming into this thinking we did were coming into this thinking we did one of these last year one of these last year one of these last year surely there will be no new questions surely there will be no new questions surely there will be no new questions but there were a lot of really good but there were a lot of really good but there were a lot of really good questions and we appreciate uh all of questions and we appreciate uh all of questions and we appreciate uh all of you you you we uh i really hope that you know you we uh i really hope that you know you we uh i really hope that you know you consider uh applying adam consider uh applying adam consider uh applying adam or at a minimum um going to tinycity.com or at a minimum um going to tinycity.com or at a minimum um going to tinycity.com getting on the list and getting on the list and getting on the list and we look forward to hopefully being in we look forward to hopefully being in we look forward to hopefully being in touch any questions and answer just touch any questions and answer just touch any questions and answer just send me an email hello timeyasu.com or send me an email hello timeyasu.com or send me an email hello timeyasu.com or dm on twitter or anything all that works dm on twitter or anything all that works dm on twitter or anything all that works all the stuff