Wednesday, April 15, 2009
Posted by
Lynn-Ann Gries
Rarely in life do we have an opportunity to get a lot for a little. Most of the time we complain that we don't get our money's worth, that the goods and services we buy never measure up to expectations (did anyone buy a ticket to see the Browns last season? If yes, you know what I mean.) Well, here is your chance to reverse that trend and get a lot for (almost) nothing.
Next week JumpStart is hosting a seminar called "The Term Sheet: What You Must Know" Leading the discussion will be Steve Lindseth, Founder and CEO of Axentis, Inc., and John Saada, a Partner with the global law firm of Jones Day. Typically, advice from knowledgeable individuals such as these doesn't come cheap. Getting a one-on-one session with either of these gentlemen would likely cost you a few hundred clams. But the cost to attend our seminar is only $25 and you get a "two-fer "-- two experts discussing this timely and important topic.
If you are an entrepreneur who is considering taking money from outside investors it is imperative that you understand what a term sheet is, why you need one and what the terms actually mean. While I will always counsel entrepreneurs to hire a great lawyer, I will also tell you it isn't a substitute for understanding the terms yourself. After all, it's your company and you owe it to yourself to get smart on this stuff way before you ever have to raise outside capital. So, if you haven't already signed up, I'd hurry. It's not every day you can get a Ferrari for the price of a Smart Car.
Lynn-Ann Gries is the Chief Investment Officer of JumpStart Ventures. She previously worked in the investment banking departments at both McDonald Investments and Smith Barney (now part of Citigroup), and in the sales and trading area at Morgan Stanley. She received her MBA from New York University's Stern School of Business and her BA in Economics from Smith College. She currently serves on the board of the Fund for the Future of Shaker Heights, the Great Lakes Science Center and Summer on the Cuyahoga (SOTC).