Mon, 18 January 2021
In this episode, Hall welcomes Braden Barr, seed investor and Board Member at PostitPlayit, and Charles Reinert, Co-founder of PostitPlayit.
Based in Dallas, Texas, PostitPlayit Inc. is a startup offering a first of its kind alternative to fantasy sports and peer-to-peer gaming. With PostitPlayit, users are able to research and pick their favorite teams, set their own spread, and easily invite friends to compete in user-created competitions. As a user, not only can you create your own contests and face off against friends and family but you're also able to open up competitions and compete with all other users. PostItPlayIt takes the thrill of competition to a whole new level of skill, fun, and transparency.
Braden has over 15 years of experience scaling capital-raising efforts in private equity and venture capital organizations. Most recently, he raised over $200 million in private real estate transactions.
Charles has more than twenty-five years of small business ownership and management experience. As a technology entrepreneur, he is the founding partner of DingMonkey, a nationwide warranty company (2004 - present), EAi Reinsurance, a reinsurance company (2017-present), and Elite Administration & Investment, a real estate and oil and gas investment company (2012-present). Charles has been a leader in five startups, responsible for innovative marketing strategies, business development, and execution of daily operations.
Braden and Charles discuss how they see the industry evolving, some of the challenges in the sector and how PostItPlayIt fits in the landscape.
Mon, 18 January 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In running due diligence it’s important to build a team and bring others into the process.
A deal lead should take care of gathering the initial documents so the team doesn’t stall out waiting on the startup.
Assign each team member a task and include the instructions for the task.
Make clear that the goal is building a due diligence report.
Set up a timeline for completing the diligence including referrals, document analysis, etc.
Use online tools such as Google docs for sharing the information as the team members will be working remotely in most cases.
It takes 4 to 8 hours to complete a task.
The overall diligence process takes from 20 to 40 hours of work.
Set four weeks as a timeframe for completing the diligence.
Keep the startup apprised of the progress and if there are any open questions.
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Category:general -- posted at: 6:00am CDT