1Questions beforehand

2Scorecard

31. Purpose

42. Profit

53. People

64. Product

75. Pitch Deck

86. Financial Plan

97. Deal

The questions beforehand

1. What is the name of the start-up?

Name

2. Does the start-up currently have any sales?

Yes

3. How many years has the start-up been active?

4. What sector does the start-up operate in?

5. How many FTE are employed by the start-up? (including the founders)

6. What are you yourself?

Starter

Entrepreneur

Investor

The start-up scorecard

Score the start-up on the following 22 success factors from the start-up scorecard.
Rate all success factors on a scale of one to five, where 1 = low (big NO) and 5 = high (big YES).
In total, you can score 110 points on these success factors.
After completing the scorecard, you will see how the start-up scores relative to peers.

Score the start-up on the following 34 success factors from the start-up scorecard.
Rate all success factors on a scale of one to five, where 1 = low (big NO) and 5 = high (big YES).
In total, you can score 170 points on these success factors.
After completing the scorecard, you will see how the start-up scores relative to peers.

Dimension purpose

Focus on having a positive impact on people, the environment or society

1.1 Purpose driven

The start-up's reason for existence is focused on having a positive impact on people, the environment and/or society and is clearly communicated internally and externally

1.2 Environmental impact (E = Environmental).

The start-up has strategies for positive environmental impact within the organization: in material use, production process, transportation or product life cycle outside the organization: focus on climate change, energy transition or biodiversity and ecosystems)

1.3 Impact on people and society (S = Social)

The start-up has strategies for positive impact on people and society within the organization: working conditions, diversity, equality and inclusiveness outside the organization: working conditions at suppliers, local communities, human rights and customer relations

1.4 Culture and good governance (G = Governance)

The start-up has strategies for a positive and safe corporate culture, attention to integrity and ethical conduct, open and transparent leadership

1.5 Measurable impact

The start-up realizes measurable impact for people, environment and/or society (works with goals and key results, an OKR method). And goes public with the results with an 'Impact Report'

Dimension profit

The potential profitability of the start-up operating in a defined market

2.1 Earnings model

The start-up has defined a razor-sharp revenue model (or combination) that allows for predictable growth in revenues and future profitability

2.2 Market potential

The size of the chosen market segment, the market growth and the start-up's plans to enter new markets offer substantial room for growth; sales can increase tenfold

2.3 Scalability

Growth allows the start-up to benefit from economies of scale (cost advantages, purchasing advantages and/or more efficient use of personnel)

2.4 Unit economics

The start-up can make revenue at an acceptable cost at the product or customer level. There is existence or prospect of positive unit economics: attractive contribution margin or attractive CLV to CAC ratio

2.5 Market leadership

The start-up can grow to become a market leader within its chosen market segment, with all the advantages that this entails

Dimension people

The composition, quality and executive strength of the founding team

3.1 Team composition

The founding team is complementary, diverse (in background and experience) and share the same values. There is trust and mutual respect and chemistry

3.2 Domain knowledge and track record

The founding team has knowledge and experience of the market in which it operates, has relevant work experience and/or entrepreneurial experience

3.3 Ambition and dedication

The founding team works more than full-time, is enormously ambitious and shows complete dedication. The founders share the same vision of the end result

3.4 Executive power

The founding team demonstrates leadership and decisiveness, has speed in action and possesses the strength to make a radical change when necessary

3.5 Skin in the game

The founding team itself has sufficiently invested in the company and is experiencing the negative consequences of possible failure itself

3.6 Self-awareness and coachability

The founding team possesses the capacity for self-reflection, is "humbitious" (humble and ambitious), is curious, can listen well and is open to feedback

Dimension product

The demand for and distinction of the product or service

4.1 Innovative capability

The start-up has the ambition and ability to be innovative. The company actively works on product innovations and responds innovatively to changing market conditions

4.2 Distinctive product

The current product is optimally distinctive in material use, production method, product features, product design, application of technology and/or unique service experience. It is not a 'me-too' product but sufficiently recognizable

4.3 Market demand and timing

The product meets a demonstrable need in the market and the timing of launch is good. Start-up follows 'fast follower' strategy

4.4 Competitive advantage

The start-up and its product possess characteristics that provide future competitive advantage: ownership of patents, high barriers to entry for new entrants, vertical integration (grip on the chain), strong product roadmap or network effects

4.5 Marketing and sales strategy

Marketing and sales expenditures are well thought out (use right channels) and appropriate to make product-level margins for the foreseeable future. Customers show willingness to pay and start-up successfully works on 'sales machine'

4.6 Traction

The start-up is making progress and showing growth over several months in terms of leads, orders, product sales, customers, users or usage

Dimension pitch deck

The quality of the pitch deck and the attractiveness of the investment

5.1 Completeness

The pitch deck is complete, including problem and solution, market potential, product, revenue model, competition, traction, team, financials and money requirements

5.2 Clarity

Within five minutes, plan is crystal clear: what will they do (product/market), who will do it (team) and how will they make money (revenue model)

5.3 Investment opportunity

The investment opportunity is good: the plan has great potential (given size of problem, market and growth potential) and a capable team (diverse, experience and execution power)

Dimension financial plan

The quality and attractiveness of the financial section in the investment memorandum (IM)

6.1 Completeness

The financial plan is complete and includes an income statement, balance sheet, cash flow statement, investment budget and financing requirements. Forecasts advance at least two years

6.2 Degree of realism

Financial forecasts have been realistically and consistently implemented with respect to revenue, growth, market share, economies of scale, EBITDA and key figures. Assumptions and rationale are well founded

6.3 Available cash flow

Given the burn rate, the start-up can certainly move forward with the investment for eighteen months (the runway = eighteen months)

Dimension deal

The attractiveness of the deal

7.1 Investment team

Other, professional investors with a strong track record are also participating in this funding round

7.2 Rating

The valuation of the start-up is defensible given its nature (innovative, distinctive) and the stage it is in

7.3 Conditions

The conditions are attractive: use of the money, decision-making (reserved matters) and protection of minority shareholders, liquidation preference, issuance and sale of shares and commitment of management

7.4 Ticket size

The requested investment fits within its own set limits

7.5 Personal click

There is a good click with the founding team, expectations are set, and values and norms match

7.6 Exit option

There is a reasonable chance of an exit in five to seven years

The questions beforehand

The start-up scorecard

Dimension purpose

Dimension profit

Dimension people

Dimension product

Dimension pitch deck

Dimension financial plan

Dimension deal

Start-up Scorecard

Contact

Start-up Scorecard

Inspiratie & Advies

Blijf op de hoogte

Start-up Scorecard

Start-up Scorecard

Inspiratie & Advies

Interviews

Adres