Founders usually prepare for questions about the market. The deals that stall are stopped by internal ones.
Five items to have ready
- The deck.
- The cap table, including anything unvested with someone who has left.
- The numbers for the last thirty days, not next year's target.
- The audit status, and what runs in production without one.
- The token plan, with what is released in the first twelve months after TGE.
None of it needs to be polished. We read raw numbers faster than a designed deck, and a rough answer now is better than a perfect one next month.
Three questions to answer first
- Who owns what today, and is any of it sitting unvested with someone who has already left?
- What is released in the first twelve months after TGE, and who holds it?
- What is running in production that has not been audited?
Each question takes five minutes to answer. Each can take weeks to fix once an investor finds it first. Answer them for yourself before you open a data room.