Thu, 29 February 2024
How To Report Fraud Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Fraud sometimes arises in the startup world. Here’s how to report fraud should it happen to you. If you discover fraud don’t pay any more money into it. Collect the relevant information and documents. This includes names of the suspected perpetrators and their contact details. Any information indicating the suspected fraud. Report the fraud to the authorities. This includes the state Attorney General, Department of Justice, FINRA, and the FBI. Check your insurance coverage to see if you have any fraud protection. Get a second opinion from a coworker or other in your network about it. Fraud often comes from those who you trust most.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Wed, 28 February 2024
How Do Whistleblower Laws Protect You Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Whistleblower laws protect those who report fraud, waste, and abuse to the authorities. Here’s a list of cases of protections provided to federal employees: Disclosures made to those engaging in bad acts. Employees motive for reporting the bad acts. Disclosures made while the employee was off duty. Disclosures made while the employee was on duty. Whistleblower laws protect employees from the following in the event they report bad acts in the workplace . Violation of laws and regulations. Gross mismanagement. Gross waste of funds. Abuse of authority. Substantial danger to the public. The employee is protected from employees and their disclosures in reporting the bad acts of others. Consider these conditions in reporting bad acts.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 03.How_Do_Whistleblower_Laws_Protect_You.mp3
Category:general -- posted at: 5:00am CDT |
Tue, 27 February 2024
Filing a Complaint With the SEC Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The Securities and Exchange Commission or SEC oversees the securities industry in the US. Here’s a list of sources of fraud related to securities: Ponzi and pyramid schemes in which funds collected from one investor are paid to another investor with no actual investment. Theft or misappropriation of funds in which employees take money from the company. Stock price manipulation in which one's activities increase or decrease the price to the gain of the manipulator. Insider trading in which those with inside information make gains through stock trades. Bribery in which employees pay bribes to others to accomplish their goals. Fraudulent conduct associated with securities. Report these to the SEC through their website or hotline. There are whistleblower protections for those who provide information to the SEC. Remember, there’s no such thing as a guaranteed investment.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Mon, 26 February 2024
Claiming Whistleblower Status Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. There are three Whistleblower programs, False Claims, SEC Whistleblower, and IRS Whistleblower. One can file multiple claims under each of the programs. One must file within a time limit of the act of fraud which in most cases is 10 years. Some IRS and SEC claims require a filing within three years. The False Claims Act requires you to have an attorney. This gives anonymity to the filer. This act covers fraud and waste to the Federal Government. This includes healthcare, tax, defense, pharmaceutical, educational, financial and more. Once filed you cannot discuss the case with anyone. For SEC Whistleblower cases you file a Form TCR. For IRS Whistleblower cases you file a Form 211. The government will determine whether to pursue or not. The filer can make another claim under a different act to gain a higher payout. The Department of Justice or SEC will lead the investigation. The faster you submit the claim, the better the chance of success. The Whistleblower can receive a percent of any rewards collected which can range from 10% to 30% of the funds collected. Consider these steps in filing a whistleblower claim.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Fri, 23 February 2024
On this episode of Investor Connect, Hall welcomes Gale Wilkinson, Managing Partner at VITALIZE Venture Capital located in Chicago, IL. Presently, VITALIZE invests out of a $23.4M Fund 2 and manages a 500+ member angel group. The firm specializes in WorkTech, focusing on B2B software that revolutionizes workflows and/or work outcomes, data-driven HR technology (hiring, learning & development, employee engagement), and infrastructure for the growing freelance economy. Beyond her professional pursuits, Gale is an advocate for diversity in angel and VC investing, aiming to bring more people to the table. Gale discusses the current trends in work tech, including the push for hybrid work situations and software simplification. Gale highlights the massive potential, with the sector expected to approach $1 trillion in the next few years. She provides advice to founders in this space to think bigger and create truly revolutionary solutions. Connect with Gale Wilkinson and VITALIZE Venture Capital:
_______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Fri, 23 February 2024
Team by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. At each stage of funding the startup will need a team to accomplish the goals. Here’s the team configuration at each stage: PreSeed - Founder and technical cofounder. The early-stage team needs someone building it and someone selling it. Seed -- Founder and technical cofounder. The founder sells the product or service and the cofounder builds the minimum viable product. Seed+ -- Founder and technical cofounder. The founder continues selling the product and the cofounder turns the MVP into a standard product. Series A -- Founder, technical cofounder, and product person. The founder continues selling the product alongside a product person managing direct sales and channel partners. Series B -- Founder, CTO, CFO. The founder works on scaling strategies and the chief technical officer and chief financial officer are hired to scale the business. Series C -- Founder, CTO, CFO. The founder works on building new products while the chief technical officer and chief financial officer continue to grow the business with new products and entering new geographies. Series D -- Founder, CTO, CFO, and acquisition specialist. The founder works on acquiring other businesses to fuel the scaling growth of the company with the help of the acquisition specialist.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Thu, 22 February 2024
Success Rate by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The success rate of startups declines as one moves from seed to Series A and so forth. Success is defined as a successful exit for the investors through an acquisition of the company. Here’s the rate of success of startups at each stage of funding. Seed -- 9% Series A-- 12% Series B -- 14% Series C -- 15% Series D -- 16% Many startups stop raising funding and turn into a steady state business before reaching an acquisition exit. Here’s the rate at which companies go on to raise at the next stage of funding: Series A -- 40% Series B -- 25% Series C -- 15% Series D -- 5% This shows the percent of startups still raising funding after each round.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 04.Success_rate_by_stage_of_funding_Intro.mp3
Category:general -- posted at: 5:00am CDT |
Wed, 21 February 2024
Primary Work by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. At each stage of funding the startup team takes on a new set of tasks. Here’s the primary work at each stage: PreSeed -- Define the market and identify the target customer. The early-stage team researches the market and talks with potential customers about product needs. Seed -- Build the initial MVP and test the market. The team builds a minimum viable product and tests cohorts of prospective customers. Seed+ -- Build and launch the initial product for the market. The team takes the lessons learned from the MVP and builds a product to take to market. Series A -- Grow product sales. The team builds out the product features to accelerate the growth. Series B -- Scale product sales. The team builds out the distribution channels and product delivery to work at scale. Series C -- Identify new products to build. The team looks for strategic adjacencies and product extensions to build and sell. Series D -- Identify target acquisitions. The team looks for other companies to acquire to increase the sales growth.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 03.Primary_work_by_stage_of_funding_Intro.mp3
Category:general -- posted at: 5:00am CDT |
Tue, 20 February 2024
Investors by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Each stage of funding brings a different set of investors. Here’s a list of investors to pursue by stage. Pre-Seed -- Founders fund their initial startup research and market development. It’s too soon to take outside funding for what is not yet a formed business plan. Seed -- Family and friends and closely known angel investors. Outside funding can begin once the market is understood and the customer is identified. Seed+ -- Angel investors and early stage venture capital investors. There’s often another round of funding at the previous valuation to complete the product. Series A -- Venture capital and late stage angel investors. Institutional capital comes into play at this stage. Series B -- Later stage venture capital and growth equity investors. Later stage venture capital carries the startup into scaling. Series C -- Mezzanine debt and growth equity investors. Debt investors as well as growth equity investors come into play. IPO -- Pre-IPO investors fund the IPO. This usually starts two years in advance of going public. Pursue these metrics at each stage of funding.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 02.Investors_by_stage_of_funding_Intro.mp3
Category:general -- posted at: 5:00am CDT |
Mon, 19 February 2024
Boards and Advisors by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Each stage of funding brings a different set of advisors and board members. Here’s a list of advisors and board members to pursue by stage. Pre-Seed -- Informal advisors and board members. They provide domain knowledge about target industries. Seed -- Informal advisors and board members. They provide basic business advice on forming and launching the business. Seed+ -- Informal advisors and board members. They provide sales and marketing expertise to help find product market fit. Series A -- Formal board of directors. The board consists of five members, two from the company, two from the investors and one independent who has domain knowledge. They provide sales growth expertise. Series B -- Formal board of directors and a few advisors. The board consists of five members, two from the company, one from the Series A investors, and one from the Series B investors, and one independent who has domain knowledge. They provide scaling expertise. Series C -- Formal board of directors and several advisors. The board consists of seven persons, two from the company, one from the Series A investors, one from the Series B investors, and one from the Series C investors, and two independent directors. They provide expertise for expanding into new markets. Series D -- Formal board of directors and several advisors. The board consists of seven persons, two from the company, three from the investors, and two independent directors. They provide expertise for acquiring other companies. Pursue these advisors and board members at each stage of funding.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 01.Boards_and_advisors_by_stage_of_funding_Intro.mp3
Category:general -- posted at: 5:00am CDT |
Fri, 16 February 2024
In this episode, Hall T. Martin engages with Cheryl from Torgan to explore effective fundraising strategies for startups. Torgan, part of the Keiretsu program, specializes in investor relations and introductions, with a focus on the life sciences sector. Cheryl sheds light on Torgan's unique approach to fundraising, emphasizing the increasing interest in the biotech and AI markets. The discussion covers the duration of fundraising efforts based on different amounts sought and Torgan's monthly retainer model. The importance of transparent milestones and incentivizing early investors with favorable valuations is highlighted. Hall T. Martin offers advice on incorporating an exit strategy into fundraising decks, focusing on potential buyers and exit valuations. The episode concludes with a discussion on angel groups, suggesting Keiretsu as an option for its extensive investor network. Torgan's experience provides valuable insights for startups navigating the complexities of fundraising. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Fri, 16 February 2024
Financial Work by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Each stage of funding requires financial work to be done by the startup. Here’s a list of financial goals to consider for your startups fundraise: Pre-seed -- identify locked value in a customer segment. The output of this stage is a target market that is ripe for disruption with revenue potential. Seed -- identify a case for the business in unit economic terms. The output of this stage is a revenue model that works on a unit economic basis. Seed+ -- refine the business model. The output of this stage is a business model that works consistently. Series A -- build the business model that provides a 50% return on invested capital. The output of this stage is a business model that not only sustains the business but also grows it. Series B -- build the business model that scales the business. The output of this stage is a business model for rapid growth to scale. Series C -- acquire other businesses. The output of this stage is to identify businesses to acquire that maintain the return on invested capital. IPO -- build a war chest. The output of this stage is funding that can take the business into new markets. Each stage of funding presents the startup with a financial challenge .
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 05.Financial_Work_by_Stage_of_Funding.mp3
Category:general -- posted at: 5:00am CDT |
Thu, 15 February 2024
Valuations by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. At each stage of funding there’s a valuation range for the startup. This changes over time with fluctuations in the market and by sector. Here’s a list of ranges to consider for your startups fundraise:
The output of this stage is market research and an initial list of potential customers.
The output of this stage is an initial product.
The output of this stage is a refined product with better metrics.
The output of this stage is growing revenue for the main product. The valuation varies based on the monetization model in the startup.
The output of this stage is a meaningful share of the market.
The output of this stage is new product lines.
The output of this stage is an ongoing business on the public market. Valuations will vary from one sector to the next and with the state of the market.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Wed, 14 February 2024
Fundraise Amount by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. At each stage of funding there’s a standard amount to raise. Here are the fundraise amounts by stage: Pre-seed -- $250K to $500K This funding sets up the business and launches the customer discovery and product development process. Seed -- $500K to $1M This funding starts the MVP product build and takes it to the market. Seed+ -- $500K to $750K This funding is to complete the standard product and launch it into the market. Series A -- $1M to $5M This funding sets up the company for rapid growth. Series B -- $3M to $15M This funding sets up the company to scale the business. Series C -- $5M to $20M This funding sets up the company to expand into new markets and geographies. IPO -- $25M to $100M+ This funding takes the company public and establishes it as an ongoing business. Using the standard fundraise amounts simplifies the fundraise process and will be more familiar to investors.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 03.Fundraise_Amount_by_Stage_of_Funding.mp3
Category:general -- posted at: 5:00am CDT |
Tue, 13 February 2024
Product Work by Stage of Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The founder works on the product throughout the life of the business. Here’s the product work to be done at each stage of funding: Pre-seed -- research the market to identify the customer careabouts and product features. Check the competition for their positioning and what market positions are left open. Seed -- build a minimum viable product and test it with customers. Run several iterations of the MVP to gather as much feedback as possible. Seed+ -- turn the MVP into a standard product. Take this product to market and start monetizing. Series A -- find product-market fit with your product. Begin the growth trajectory. Series B -- set up the product for scaling the business. Reduce the cost to build and deliver your product so that it has the right features and no more. Series C -- Expand the product into new geographies and applications. Take the product and extend it to other use cases. Track your product development through each stage of funding.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Mon, 12 February 2024
Purpose of Family and Friends Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Family and friend's funding is often used to start a business. Here are some key uses of funding at this stage: File the legal entity paperwork for an LLC, not a Delaware C corporation. You can file for a Delaware C later if the business takes root. This gives your business an EIN (entity identification number) with which you can open a bank account. Set up the accounting books with a low-cost internal solution. It’s important to track expenses and revenues from day one. File a wordmark for your company name. This prevents others from setting up a company with the same name. Build a simple website. In today’s world, if you don’t have a website, you don’t exist. Keep the website to just a few pages so those who look for you and your company can find your website and get in contact with you. Print business cards. Start early promoting the company as it takes time for the word to spread. Finally, file a number of provisional patent applications. The cost is low and it gives you a year to figure out which patents are going to be of value. Set up the startup so it looks like a real business.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: 01.Purpose_of_Family_and_Friends_Funding.mp3
Category:general -- posted at: 5:00am CDT |
Fri, 9 February 2024
In this episode of Investor Connect: How to Raise Funding, Hall T. Martin explores the mission of Juggle Apps with founder John, tackling the pressing issue of social isolation. Juggle Apps aims to combat this challenge by fostering connections in a world influenced by social media and the effects of COVID-19. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Fri, 9 February 2024
Stages of Funding for Startups Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Startups go through a series of stages from launch to growth to scale. Each stage brings funding to the startup that serves the needs of its stage. Here’s a list of stages for startup funding: Pre-seed -- this funding helps develop an idea, research the market, and build a core team. This is most often brought by the team and family and friends.
Seed -- this funding builds the minimum viable product and tests the market.
Some companies join accelerators and incubators at this point for additional support. Seed+ -- This funding provides more capital to move the product from MVP into a standard one. This is often an additional round of capital at the previous valuation. Angels are commonly sought after investors for this round which seeks to go to market with the product. Series A -- this funding provides growth capital to the startup that has found product-market fit and is now growing fast. Venture capital comes in at this stage to bring additional capital and expertise for business growth. Mezzanine funding -- this is debt funding that covers additional expenses such as filing for IPOs and is used to continue the growth of the business. As the company matures the team seeks to reduce the use of equity and moves to debt funding. IPOs -- this funding comes from going public on the market to raise additional funds to scale the company. Map out the path of your company using each of these funding stages.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ Thank you for joining your host Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Thu, 8 February 2024
What is a whistleblower? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Internal fraud is often caught by an employee. The employee who sounds the alarm is called a whistle-blower. The whistleblower is someone who reports fraud to the authorities. Whistleblowers fear retaliation for outing a manager or other employee. Those who want protections for keeping their job or avoiding criminal charges must follow these rules: The whistleblower must have good reason to suspect the fraud. The whistleblower must take steps to report the fraud to the authorities. The whistleblower must refuse to join the fraud. The whistleblower must testify against the fraudsters. Cases involving the government can involve additional penalties. If you suspect fraud then follow these steps: Collect all the relevant information. Protect yourself and your accounts. Report the fraud to the authorities. Check for any insurance coverage against fraud. Fraud is often found by internal employees so beware of the activities of others.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Wed, 7 February 2024
More Ways To Prevent Fraud in a Startup Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. There are several types of online fraud. Here is a list of attacks to watch out for: Bots -- these automated tools can infect your website and emails with viruses. Denial of service attack -- this disables your website by sending too many requests for service. Cross-site scripting attack -- This type of fraud attacks the CSS section of the website in search of login details and credit card information. SQL attacks -- this type of fraud breaks into online databases to steal the contents. Phishing -- this type of attack sends an email from a supposedly friendly source but with the goal of capturing social security and bank account numbers. Password capture -- this type of fraud seeks to capture the password of users by pretending to be a service provider that needs access to your accounts. Tailgating -- this attack seeks access to key databases and other information by duping an internal contact to give access. Pretexting -- this type of fraud fabricates a story about their identity and purpose to induce an employee to give sensitive information. Diversion theft -- this fraud induces the employee to reroute information or funds to a new location at which point the fraudster captures the information or funds. Train your employees on how to detect this type of fraud and avoid it.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ Thank you for joining your host Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
Direct download: More_Ways_To_Prevent_Fraud_in_a_Startup.mp3
Category:general -- posted at: 5:00am CDT |
Tue, 6 February 2024
How To Avoid Fraud Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Fraud can be costly to a startup. Take these steps to avoid fraud in your business. Separate accounting duties -- have at least two people handling the accounting and separate their functions. Know your team -- run background checks on new hires and know your business partners' history and background. Oftentimes it’s the most likable people who commit fraud. Set up internal controls -- audit the accounting books and require sign-offs and approvals for expense payments. Protect bank account and credit card information -- separate personal and business accounts and move bill payments online to avoid check fraud. Review bank accounts regularly for unusual transactions. Audit the books annually -- have an outside accountant review the books to prevent fraud. Use certified fraud examiners to review suspected cases of fraud to help with the prosecution of the case. Train your team -- make sure key people in your organization know how to detect fraud and what to look out for. Implement these steps to avoid fraud in your organization.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Mon, 5 February 2024
Types of Financial Fraud Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. There are several types of financial fraud related to startups in the investment industry. Here’s a list to consider: Misrepresentations -- fraudsters can lie about the value, risks, and costs of financial investments. This also includes misrepresenting the financial condition and omitting key facts. Regulatory violations -- this includes securities law violations such as insider trading, or selling securities without a license. This also includes failing to register securities. IPO fraud -- this includes misrepresentations in the offering of an IPO or SPAC by misstating accounting information or omitting key information. Misappropriation of funds -- this includes Ponzi schemes and skimming money for personal use. Trading violations -- this includes manipulating the market through pump and dump schemes and front running. This also includes insider trading. Cybersecurity fraud -- this includes data breaches and protection of investor data. Money laundering -- this includes falsifying statements in accounting books and records. Startups operating in the financial industry should watch out for this type of fraud.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. ________________________________________________________________________
For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Fri, 2 February 2024
In this Investor Connect episode, Hall T. Martin explores a medical device startup's journey with Marcus, a visionary founder. Marcus, a medical school graduate, envisions a handheld device for diagnosing eye conditions, aiming to enhance at-home healthcare. The company, having validated demand, plans to kickstart production through a $300,000 Kickstarter campaign after a successful WeFunder round. Marcus outlines a low-risk opportunity with a proof-of-concept device and validated demand, seeking potential funding or partnerships for mass production. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Fri, 2 February 2024
External Sources of Fraud Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. There are several sources of fraud from outside a business. External sources of fraud pretend to be someone you trust. They create a sense of urgency and then demand payments. Here’s a list of common sources of external fraud: Fake invoices -- the invoices show services rendered for work that was never done. Advertising scams -- payment for ad services in a directory or book that was or never will be published. Imposter scams -- callers who claim you owe them money or critical services will be turned off. Tech security scams -- a warning screen pops up on your computer showing a critical virus has disabled your computer and you need to pay to remove the virus. Phishing attacks -- calls or emails requesting personal information such as social security numbers for employees to verify their identity. Ransomware -- the company’s data files are encrypted and the ransomers demand payment to unlock the company’s data. Business coaching scams -- the scammer promises to provide business training and services but never delivers. Train your employees on how to recognize this type of fraud.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Thu, 1 February 2024
Internal Sources of Fraud Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. There are several sources of fraud within a business. Here’s a list of internal sources to review: Identity theft -- the capture and selling of personal information for illegal uses. This is done by fraudsters capturing employee information through bank accounts and tax returns. Asset misappropriation -- this is basically theft. This is often through forged checks. Embezzlement -- this is the illegal use of the company’s funds. This is often done by charging personal expenses on the business account. Payroll fraud -- this is the misuse of payroll. One example is claiming hours that were not actually worked. Employment fraud -- claiming work history that doesn’t actually exist. This comes up in hiring people who claim to have experience that they don't actually have or omitting key information such as criminal history. Set up internal controls in your company to prevent fraud.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
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