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Uhlu lokuhlola lwe-due diligence

Uhlu lokuhlola lophenyo olunzulu lokuqoqa uxhaso lwezinkampani ezisaqala

Lokho abatshalizimali be-venture abakucelayo ngaphambi kokusayina i-term sheet nangaphambi kokuvala – kuhlelwe njengegumbi ledatha labatshalizimali elinezinombolo ongalilungiselela ngaphambi komhlangano wokuqala.

Bona uhlu lokuhlola

Ukuhlola okujulile kwe-startup kwenzeka ngezigaba ezimbili. Ngaphambi kwe-term sheet, abatshali-zimali bafuna okwanele ukuze bakhe umbono: amaslayidi, izilinganiso ezibalulekile, ithebula labanikazi bamasheya, imodeli nomqondo ngethimba nemakethe. Ngemva kwe-term sheet, abameli bomtshali-zimali ohamba phambili baqhuba ukuhlola okujulile kokuqinisekisa kumarekhodi ezomthetho enkampani, i-IP nokuxhaswa ngezimali kwangaphambili ngaphambi kokuba imibhalo yesivumelwano isayinwe.

Isigaba sokuqala simayelana nokuqiniseka, esesibili simayelana namaphepha ahlanzekile – futhi esesibili yilapho kwenzeka khona ukubambezeleka okungagwemeka. Ukudluliselwa kwe-IP okungekho okuvela kumsunguli ozakwethu, ukunikezwa kwezinketho okungasayiniwe noma i-SAFE eguquka ngendlela ehlukile kunaleyo abasunguli ababecabanga ngayo kungabambezela ukuvala amasonto. Amafolda alandela uhlu lokuqoqa izimali ethuluzini lethu lamahhala lohlu lokuhlola okujulile, kunwetshwe ngezinto abameli abazicelayo kusukela ku-seed kuya ku-Series B.

Indlela esebenzayo ukwakha igumbi ledatha kanye bese ulivula ngezingqimba. Yabelana ngamaslayidi nefolda emfushane yezilinganiso nawo wonke umtshali-zimali okhuluma naye, vula imodeli yezezimali nemininingwane yamakhasimende kubatshali-zimali abazibandakanya ngokungathi sína, bese unikeza abameli bomtshali-zimali ohamba phambili amafolda aphelele ezomthetho ngemva kwe-term sheet. Ukulandelela ukuthi ubani ovule ini kukutshela ukuthi yibaphi abatshali-zimali abenza umsebenzi ngempela.

Uhlu lokuhlola lwe-Uphenyo olunzulu lokuqoqa uxhaso lwezinkampani ezisaqala – amafolda angu-5, amadokhumenti angu-34

Kunezinombolo njengenkomba yegumbi ledatha: sebenzisa izigaba njengamafolda bese ugcina izinombolo emagameni amafayela.

1. Inkampani

  1. 1.1I-pitch deck
  2. 1.2Isitifiketi sokubhaliswa nemigomo yenhlangano
  3. 1.3Ithebula labanikazi bamasheya (elihlanjululwe ngokugcwele, kufaka phakathi isiqoqo sezinketho nezinto eziguqukayo)
  4. 1.4Imibhalo yokuxhaswa ngezimali kwangaphambili (ama-SAFE, amanothi aguqukayo, imizuliswano enentengo)
  5. 1.5Imizuzu yebhodi nezinqumo zabanikazi bamasheya
  6. 1.6Isivumelwano sabanikazi bamasheya namalungelo abatshali-zimali
  7. 1.7Ukufayela kubhalisi wezinkampani nesitifiketi sesimo esihle

2. Imininingwane yezezimali

  1. 2.1Imodeli yezezimali (iminyaka engu-3–5) nezicabangelo
  2. 2.2I-P&L yomlando, ibhalansi nokugeleza kukakheshi
  3. 2.3Ama-KPI anyanga zonke (i-MRR/ARR, ukukhula, ukulahlekelwa amakhasimende, i-CAC, i-LTV, umngcele wenzuzo ephelele)
  4. 2.4Izitatimende zasebhange (izinyanga ezingu-3–6 ezedlule)
  5. 2.5Izinga lokusetshenziswa kwemali nesibalo sesikhathi esisele semali
  6. 2.6Ukusetshenziswa kwezimali zalo mzuliswano
  7. 2.7Izibonelelo, imalimboleko noxhaso lukahulumeni olutholiwe

3. Umkhiqizo nemakethe

  1. 3.1Uhlelo lomkhiqizo lwesikhathi esizayo
  2. 3.2Umbukiso womkhiqizo noma ukufinyelela emkhiqizweni
  3. 3.3Ukulinganiswa kosayizi wemakethe nemithombo
  4. 3.4Isimo sokuncintisana
  5. 3.5Izinkomba zamakhasimende nezifundo zezimo
  6. 3.6Uhlu lwamathuba okuthengisa
  7. 3.7Ukubuka konke kwesakhiwo sobuchwepheshe

4. Ithimba

  1. 4.1Umlando omfushane wabasunguli nabafakazi
  2. 4.2Ishadi lenhlangano nohlelo lokuqasha
  3. 4.3Isiqoqo sezinketho nohlelo lwe-ESOP, nerejista yokunikezwa
  4. 4.4Izinkontileka zokuqashwa ezibalulekile
  5. 4.5Izivumelwano zokuthola amasheya kancane kancane kwabasunguli (vesting)
  6. 4.6Izivumelwano zabasebenzi bekontileka

5. Ezomthetho ne-IP

  1. 5.1Ukwabelwa kwe-IP okuvela kubasunguli nakosonkontileka
  2. 5.2Izimpawu zokuhweba, amalungelo obunikazi bokusungula namagama ezizinda
  3. 5.3Izinkontileka zamakhasimende ezibalulekile
  4. 5.4Inqubomgomo yobumfihlo nemibhalo ye-GDPR
  5. 5.5Ukusetshenziswa kwe-open source nokuthobela amalayisensi
  6. 5.6Amacala, izingxabano noma izimangalo (noma ukuqinisekisa ukuthi azikho)
  7. 5.7Amalayisensi okulawulwa, lapho ibhizinisi liwadinga khona
Uhlu lokuhlola olusebenzisanayo
Dawuniloda i-Excel (XLSX) Isakhiwo samafolda (ZIP)
Kopishela ku-Google Sheets

Vula i-Google Sheet entsha (sheets.new), chofoza iseli A1 bese unamathisela le fomula – uhlu lokuhlola luyavuleka namakholomu athi Status, Owner, Due date ne-Notes:

Ukuze uyihlele, khetha konke, kopisha bese unamathisela njengamavelu kuphela (Ctrl+Shift+V).

I-CSV ivuleka ku-Excel, Numbers noma ku-Google Sheets. Kuyisiqalo esisebenzayo – sishintshe sifanele isivumelwano sakho nomthetho wezwe lakho ngosizo lwabeluleki bakho.

Dala leli gumbi ku-HelpRange

Ubani obuzayo

Ozakwethu nabahlaziyi be-venture capital ngaphambi kwe-term sheet; abameli bomtshali-zimali ohamba phambili ekuhloleni okujulile kwezomthetho kokuqinisekisa; ezinye izikhwama ziphinde zihlole ubuchwepheshe noma zibuze amakhasimende.

Isikhathi esijwayelekile

Ukuhlola ngaphambi kwe-term sheet kungathatha izinsuku kuya emasontweni amaningana; ukuhlola okujulile kokuqinisekisa nemibhalo yezomthetho ngemva kwe-term sheet ngokuvamile kuthatha amasonto angu-3–6.

Izimpawu zengozi
  • Umsunguli ozakwethu ohambile ngaphandle kwesivumelwano se-vesting noma se-IP
  • Ithebula labanikazi bamasheya elingahambisani nemibhalo esayiniwe
  • Izithembiso zezinketho ezenziwe nge-imeyili kodwa ezingazange zinikezwe
  • Amathuluzi aguqukayo anemigomo ephikisanayo
  • Izilinganiso ezishintsha incazelo phakathi kwamaslayidi negumbi ledatha
  • Ikhodi ebalulekile ebhalwe ngabasebenzi bekontileka ngaphandle kokudluliselwa kwe-IP
  • Izinkontileka zamakhasimende ezinesibopho esingenamkhawulo noma ukuzimela

Shintsha lolu hlu lokuhlola lube yigumbi ledatha

Dala isakhiwo samafolda, layisha amadokhumenti ngaphansi kwezinombolo zenkomba ezifanayo futhi wabelane ngawo ngokwamukelwa kwe-NDA, izimvume ngefolda ngayinye, izimpawu zamanzi nokulandelela ezingeni lekhasi. Uhlelo lwe-Max $87 ithimba ngalinye ngenyanga lwamagumbi edatha ane-NDA, i-Unlimited $174, noma i-Deal Room Pass yesikhathi esisodwa ngo-$199 (izinsuku ezingama-90).

Khiqiza inkomba yegumbi ledatha I-Deal Room Pass – $199
Imibuzo Evame Ukubuzwa

Uphenyo olunzulu lokuqoqa uxhaso lwezinkampani ezisaqala – imibuzo

Yini abatshali-zimali abayihlolayo ekuhloleni okujulile kwe-startup?

Ithimba, imakethe, umkhiqizo nokuthuthuka ngaphambi kwe-term sheet; bese kuba ithebula labanikazi bamasheya, ukuxhaswa ngezimali kwangaphambili, amarekhodi enkampani, ubunikazi be-IP, izinkontileka ezibalulekile, ukuqashwa nokuthobela imithetho ekuhloleni okujulile kwezomthetho kokuqinisekisa.

I-startup kufanele isethe nini igumbi ledatha?

Ngaphambi kwemihlangano yokuqala nabatshali-zimali. Yabelana ngamaslayidi nefolda elula enezilinganiso kusenesikhathi, bese uvula amafolda aphelele ezomthetho kumtshali-zimali ohamba phambili ngemva kwe-term sheet.

Igumbi ledatha lesigaba se-seed kufanele libe nani?

Amaslayidi, ithebula labanikazi bamasheya, imibhalo yokubhaliswa, noma yimaphi ama-SAFE noma amanothi, imodeli elula nama-KPI, izivumelwano zabasunguli nokudluliselwa kwe-IP, nezinkontileka zamakhasimende abalulekile. Abatshali-zimali be-seed abavamile ukudinga okungaphezu kwalokho.

Ngingakwazi yini ukubona ukuthi yibaphi abatshali-zimali abafunde amaslayidi ami?

Yebo. Ngesixhumanisi esilandelelwayo noma igumbi ledatha ubona ukuthi ubani ovule iyiphi idokhumenti nokuthi bachithe isikhathi esingakanani ekhasini ngalinye, okusiza ukubeka phambili ukulandelela.

Ingabe abatshali-zimali basayina i-NDA?

Iningi lama-VC alizukusayina i-NDA ukuze libuke amaslayidi okokuqala. Egumbini ledatha elinemininingwane ngemva kwe-term sheet, isibopho semfihlo sivamile, futhi i-NDA esayinwa ngokuchofoza egumbini ledatha yamukelwa ngabatshali-zimali abaningi.

Uhlu lokuhlola oluhlobene
Uphenyo olunzulu lwezezimali Ukuhlolisisa kwezomthetho Uphenyo olunzulu lwe-M&A Uphenyo olunzulu lomhlinzeki

Lonke uhlu lokuhlola: Uphenyo olunzulu lwe-M&A · Ukuhlolisisa kwezomthetho · Uphenyo olunzulu lwezezimali · Ukuhlolisisa kwentela · Uphenyo olunzulu lwezindlu nomhlaba · Uphenyo olunzulu lomhlinzeki · ukubuka konke

Amathuluzi namagumbi edatha
Uhlu lokuhlola lophenyo olunzulu olusebenzisanayoIsikhiqizi senkomba yegumbi ledathaIsibali sezindleko zokuhlolwa kokwethembekaIgumbi ledatha le-M&AIgumbi ledatha lokuqoqa imaliIgumbi ledatha ne-NDAAmagumbi edatha abonakalayo angcono kakhulu