ZackerySprague
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Congrats on your business man and your journey, read MJs newsletter.Yesterday, I met with a banker regarding financing for my first fundraising round.
At one point, he had me fill out a form declaring my financial and personal assets.
I simply wrote: "€1,000 – emergency savings."
He said: "You need to list the value of the shares you hold in your company."
I replied: "But that’s absurd; the company isn't profitable yet."
He said: "Thibaut, right now you own 100% of a company you’ve valued at €300k. So, your total net worth is €301k."
That was the moment I realized that, even though I’m still broke, the hard work of the last two years hasn't been for nothing
P.S. I’m getting ready to sell a small percentage of the company in the coming weeks to really ramp up operations.
So, I’ll hold fewer shares, but the valuation will rise over time...
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