{"id":499,"date":"2016-02-04T15:36:19","date_gmt":"2016-02-04T14:36:19","guid":{"rendered":"http:\/\/businessangelinstitute.org\/?page_id=499"},"modified":"2022-03-28T14:07:43","modified_gmt":"2022-03-28T12:07:43","slug":"certified-business-angel","status":"publish","type":"page","link":"https:\/\/businessangelinstitute.org\/de\/kurse\/certified-business-angel\/","title":{"rendered":"Certified Business Angel"},"content":{"rendered":"<\/div><\/div><\/div><!-- close content main div --><\/div><\/div><div id='av_section_1' class='avia-section main_color avia-section-no-padding avia-no-shadow avia-full-stretch av-section-color-overlay-active avia-bg-style-fixed   av-minimum-height av-minimum-height-50 container_wrap fullsize' style = 'background-repeat: no-repeat; background-image: url(https:\/\/businessangelinstitute.org\/de\/wp-content\/uploads\/sites\/10\/BAI-cba-business-angel.jpg);background-attachment: fixed; background-position: top center; ' data-section-bg-repeat='stretch' ><div class='av-section-color-overlay-wrap'><div class='av-section-color-overlay' style='opacity: 0.3; background-color: #000000; '><\/div><div class='container' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-499'><div class='entry-content-wrapper clearfix'>\n<div style='padding-bottom:0px; color:#ffffff;font-size:50px;' class='av-special-heading av-special-heading-h3 custom-color-heading blockquote modern-quote modern-centered  av-inherit-size '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >Certified Business Angel<\/h3><div class ='av-subheading av-subheading_below av_custom_color ' style='font-size:15px;'><p>ISO-Zertifizierung f\u00fcr Business Angels<\/p>\n<\/div><div class='special-heading-border'><div class='special-heading-inner-border' style='border-color:#ffffff'><\/div><\/div><\/div>\n\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div><\/div><div id='av_section_2' class='avia-section alternate_color avia-section-default avia-no-border-styling avia-bg-style-scroll   container_wrap fullsize' style = 'background-color: #f4752b; background-image: '  ><div class='container' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-499'><div class='entry-content-wrapper clearfix'>\n<section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock  '   itemprop=\"text\" ><h4>Der Certified Business Angel (CBA) ist die weltweit erste unabh\u00e4ngige, internationale Zertifizierung von einzelnen Business Angels.<\/h4>\n<\/div><\/section>\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div><div id='av_section_3' class='avia-section main_color avia-section-small avia-no-border-styling avia-bg-style-scroll   container_wrap fullsize' style = 'background-image: '  ><div class='container' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-499'><div class='entry-content-wrapper clearfix'>\n<div class='flex_column_table av-equal-height-column-flextable -flextable' style='margin-top:20px; margin-bottom:0px; '><div class=\"flex_column av_two_third  no_margin flex_column_table_cell av-equal-height-column av-align-top first  \" style='background: #ffffff; padding:30px; background-color:#ffffff; border-radius:0px; '><section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock  '   itemprop=\"text\" ><p>Exzellente Business Angels sollten exzellente Angebote erhalten. Es gibt zwar viele Menschen, die sich selbst als Business Angels bezeichnen, aber nicht alle zeigen das gleiche Ma\u00df an Professionalit\u00e4t. Startups sind auf der Suche nach intelligentem Geld (&#8222;Smart Money&#8220;). Wie k\u00f6nnen sie wissen, wem sie vertrauen k\u00f6nnen? Und wie k\u00f6nnen potenzielle Co-Investoren das wissen?<\/p>\n<div style=' margin-top:30px; margin-bottom:30px;'  class='hr hr-custom hr-center hr-icon-yes  '><span class='hr-inner   inner-border-av-border- thin' style=' width:40%;' ><span class='hr-inner-style'><\/span><\/span><span class='av-seperator-icon' style='color:#000000;' aria-hidden='true' data-av_icon='\ue8bf' data-av_iconfont='entypo-fontello'><\/span><span class='hr-inner   inner-border-av-border- thin' style=' width:40%;' ><span class='hr-inner-style'><\/span><\/span><\/div>\n<h2>Was ist der CBA?<\/h2>\n<p>Der Certified Business Angel (CBA) ist die weltweit <strong>erste unabh\u00e4ngige, internationale Zertifizierung von einzelnen Business Angels (ISO 17024).<\/strong> Er ist eine eingetragene <strong>Trademark<\/strong> und basiert auf der \u00dcberpr\u00fcfung des Verst\u00e4ndnisses eines\/r Kandidaten\/in f\u00fcr den standardisierten CBA Body of Knowledge (siehe unten).<\/p>\n<h3>Voraussetzungen f\u00fcr CBA Zertifizierung<\/h3>\n<p>Um f\u00fcr eine CBA-Zertifizierung in Frage zu kommen, ist es notwendig, unser <a href=\"https:\/\/businessangelinstitute.org\/de\/programme-2\/\">CBA Trainingsprogram<\/a> als Vorbereitung zu absolvieren ODER mindestens einen dokumentierten, erfolgreichen Exit vorzuweisen. Nach dem bestandenen Kurs k\u00f6nnen Sie sich f\u00fcr die CBA-Zertifizierung bei unserem unabh\u00e4ngigen ISO-zertifizierten <a href=\"https:\/\/www.incite.at\/de\/kurse-zertifikate\/zertifizierung-cba\/\">Pr\u00fcfungspartner<\/a> anmelden.<\/p>\n<h3>Format<\/h3>\n<p>Kandidat\/inn\/en, die eine schriftliche <strong>und<\/strong> eine m\u00fcndliche Pr\u00fcfung positiv bestanden haben, erhalten das Recht, den CBA Titel zu f\u00fchren. Als CBA (Certified Business Angel) wird von Ihnen erwartet, dass Sie sich an den CBA <a href=\"https:\/\/businessangelinstitute.org\/de\/kurse\/certified-business-angel\/code-of-conduct\/\">Code of Ethics<\/a> halten. Au\u00dferdem erhalten sie eine Mitgliedschaft im exklusiven Alumni-Club.<\/p>\n<\/div><\/section><\/div><\/div><!--close column table wrapper. Autoclose: 1 --><div class='flex_column_table av-equal-height-column-flextable -flextable' style='margin-top:20px; margin-bottom:0px; '><div class=\"flex_column av_one_third  no_margin flex_column_table_cell av-equal-height-column av-align-top   \" style='background: #f0f0f0; padding:30px; background-color:#f0f0f0; border-radius:0px; '><p><section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock  '   itemprop=\"text\" ><\/div><\/section><br \/>\n<div class='avia-image-container  av-styling-no-styling    avia-align-center '  itemprop=\"ImageObject\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\"  ><div class='avia-image-container-inner'><div class='avia-image-overlay-wrap'><img class='avia_image ' src='https:\/\/businessangelinstitute.org\/de\/wp-content\/uploads\/sites\/10\/CBA-Logo-200px.png' alt='' title='CBA-Logo-200px' height=\"100\"width=\"200\"  itemprop=\"thumbnailUrl\"  \/><\/div><\/div><\/div><br \/>\n<div style=' margin-top:30px; margin-bottom:30px;'  class='hr hr-custom hr-center hr-icon-yes  '><span class='hr-inner   inner-border-av-border-thin' style=' width:45%;' ><span class='hr-inner-style'><\/span><\/span><span class='av-seperator-icon'  aria-hidden='true' data-av_icon='\ue8bf' data-av_iconfont='entypo-fontello'><\/span><span class='hr-inner   inner-border-av-border-thin' style=' width:45%;' ><span class='hr-inner-style'><\/span><\/span><\/div><br \/>\n<section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock  '   itemprop=\"text\" ><p>Was bedeutet CBA?<\/p>\n<ul>\n<li>Ist die weltweit erste Zertifizierung f\u00fcr individuelle Business Angels (ISO 17024)<\/li>\n<li>Folgt dem allgemeinen CBA Body of Knowledge<\/li>\n<li>Zertifiziert durch <a href=\"https:\/\/www.incite.at\/ausbildung\/en\/certificates\/\">ISO-akkreditierte incite<\/a> Academy<\/li>\n<\/ul>\n<\/div><\/section><br \/>\n<div style=' margin-top:30px; margin-bottom:30px;'  class='hr hr-custom hr-center hr-icon-yes  '><span class='hr-inner   inner-border-av-border-thin' style=' width:45%;' ><span class='hr-inner-style'><\/span><\/span><span class='av-seperator-icon'  aria-hidden='true' data-av_icon='\ue8bf' data-av_iconfont='entypo-fontello'><\/span><span class='hr-inner   inner-border-av-border-thin' style=' width:45%;' ><span class='hr-inner-style'><\/span><\/span><\/div><br \/>\n<div class='avia-button-wrap avia-button-center '><a href='https:\/\/cba-program.thinkific.com\/bundles\/CTPCBA'  class='avia-button   avia-icon_select-no avia-color-custom avia-size-x-large avia-position-center '  target=\"_blank\"  style='background-color:#1aa0dd; border-color:#1aa0dd; color:#ffffff; ' ><span class='avia_iconbox_title' >Jetzt buchen<\/span><\/a><\/div><\/p><\/div><\/div><!--close column table wrapper. Autoclose: 1 --><div class='flex_column_table av-equal-height-column-flextable -flextable' style='margin-top:20px; margin-bottom:0px; '><div class=\"flex_column av_two_third  no_margin flex_column_table_cell av-equal-height-column av-align-top first  \" style='background: #ffffff; padding:0px 30px 30px 30px ; background-color:#ffffff; border-radius:0px; '><section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock  '   itemprop=\"text\" ><h3>Qualit\u00e4tssiegel<\/h3>\n<p>Ein CBA (Certified Business Angel) zu sein, ist ein <strong>international anerkanntes Signal<\/strong> f\u00fcr Qualit\u00e4t und Seriosit\u00e4t. CBAs profitieren von einem besseren Deal Flow, besseren Verhandlungspositionen, internationalen Kontakten zu ebenso professionellen Engeln und Weiterbildungsangeboten, die sich mit gemeinsamen Herausforderungen befassen.<\/p>\n<p>Einzelheiten zu den Zulassungsvoraussetzungen und zum Verfahren finden Sie auf der <a href=\"https:\/\/www.incite.at\/de\/kurse-zertifikate\/zertifizierung-cba\/\">Website<\/a> der Zertifizierungsinstitution.<\/p>\n<h2>Wie wird man Lizenznehmer\/in?<\/h2>\n<p>Wenn Sie Lizenznehmer\/in des BAI werden und unser Programm in Ihrem Land anbieten m\u00f6chten, m\u00fcssen Sie bei uns den <a href=\"https:\/\/www.courseticket.com\/de\/e\/14208\/f55fee6f38\/?external=4042\">Train-the-Trainer <\/a>Kurs absolvieren. In diesem Kurs erhalten Sie alle Kenntnisse, die Sie ben\u00f6tigen, um das CBA-Programm in Ihrem Land zu verkaufen und fundiertes Wissen \u00fcber Angel Investing.<\/p>\n<p>Das Business Angel Institute unterst\u00fctzt Sie gerne dabei das CBA-Programm in Ihrem Land zu etablieren.<\/p>\n<p>F\u00fcr detailliertere Informationen schreiben Sie bitte eine E-Mail an unseren Generalsekret\u00e4r, Herrn Berthold Baurek-Karlic: <a href=\"mailto: board@businessangelinstitute.org\">board@businessangelinstitute.org.<\/a><\/p>\n<h2>Body of Knowledge<\/h2>\n<\/div><\/section><br \/>\n<div class=\"togglecontainer   toggle_close_all \" >\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-1\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Allgemeine Herangehensweise<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-1-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Angel Business\n<ul>\n<li>Charakteristikum von Startups<\/li>\n<li>Charakteristikum von Angels<\/li>\n<li>Beziehung zwischen Business Angels und Unternehmern<\/li>\n<\/ul>\n<\/li>\n<li>Arten von Investments\n<ul>\n<li>Dirketes Investment<\/li>\n<li>Co-Investment<\/li>\n<li>Club Investment<\/li>\n<\/ul>\n<\/li>\n<li>Investmentprozess\n<ul>\n<li>Zeitplan und Meilensteine<\/li>\n<li>Strategische Analyse<\/li>\n<li>Investmentkriterien<\/li>\n<li>Unternehmensentwicklung<\/li>\n<li>Folgeinvestment \/ Beteiligungsverkauf<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-2\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Dealflow<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-2-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>\u00d6kosystem\n<ul>\n<li>Wichtige Player<\/li>\n<li>Netzwerk<\/li>\n<li>Events<\/li>\n<li>Investoren-Clubs<\/li>\n<\/ul>\n<\/li>\n<li>Wissensquellen\n<ul>\n<li>Informationquellen<\/li>\n<li>Quellen f\u00fcr Innovation<\/li>\n<li>Trends aufsp\u00fcren, folgen und verstehen<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-3\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Dealscreening<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-3-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Investmentstrategie\n<ul>\n<li>Fokus\n<ul>\n<li>Industrien \/ Themen<\/li>\n<li>Gr\u00f6\u00dfe des Deals<\/li>\n<\/ul>\n<\/li>\n<li>Standardisierte Screening Prozess<\/li>\n<\/ul>\n<\/li>\n<li>Schl\u00fcsselfragen\n<ul>\n<li>Fit mt Investoren<\/li>\n<li>Team<\/li>\n<li>\u00dcberlegenes Produkt<\/li>\n<li>Klarer Bedarf in einem gro\u00dfen Markt<\/li>\n<li>Ist angefragtes Kapital ausreichend?<\/li>\n<li>\u00dcberzeugende Gesch\u00e4ftsm\u00f6glichkeit<\/li>\n<li>Aktraktivit\u00e4t des Investments<\/li>\n<\/ul>\n<\/li>\n<li>Korrektes Ablehnen einer Anfrage<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-4\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Due Diligence<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-4-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Richtiges Timing<\/li>\n<li>Due Diligence Prozess<\/li>\n<li>Unterschiedliche Rollen von Investoren<\/li>\n<li>Gesch\u00e4ftsplan<\/li>\n<li>Fokus\n<ul>\n<li>Team<\/li>\n<li>Industrie<\/li>\n<li>Wachstumspotenzial<\/li>\n<\/ul>\n<\/li>\n<li>Detaillierte Due Diligence\n<ul>\n<li>Hintergrund<\/li>\n<li>Personen<\/li>\n<li>Markt\n<ul>\n<li>Vergleich von Unternehmen und Gesch\u00e4ftsf\u00e4lle<\/li>\n<li>Marktrisiko<\/li>\n<\/ul>\n<\/li>\n<li>Produkt und Technologie\n<ul>\n<li>USP<\/li>\n<li>Entwicklungsrisiko<\/li>\n<\/ul>\n<\/li>\n<li>Geistiges Eigentum\n<ul>\n<li>Ehemalige Mitarbeiter<\/li>\n<li>Analyse-Methoden von Urheberrechten<\/li>\n<\/ul>\n<\/li>\n<li>Marketing and Verkauf<\/li>\n<li>Mitbewerb\n<ul>\n<li>Arten von Wettbewerb\n<ul>\n<li>Direkter Wettbewerb<\/li>\n<li>Substitutionswettbewerb<\/li>\n<li>Preiswettbewerb<\/li>\n<\/ul>\n<\/li>\n<li>Erwartete Reaktionen<\/li>\n<li>Konkurrenzrisiko<\/li>\n<\/ul>\n<\/li>\n<li>Finanzen<\/li>\n<li>Sonstige rechtliche Betrachtungen<\/li>\n<\/ul>\n<\/li>\n<li>Die richtigen Fragen stellen<\/li>\n<li>Entwicklung einer Standard Due Diligence f\u00fcr die Fr\u00fchphase<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-5\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Valuation<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-5-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Early-stage valuation basics\n<ul>\n<li>Qualitative versus quantitative<\/li>\n<li>Rate of Return<\/li>\n<li>Pre-money and post-money<\/li>\n<li>Multiples<\/li>\n<li>Deal terms influencing the valuation\n<ul>\n<li>Milestones<\/li>\n<li>Ratchets<\/li>\n<li>Liquidation preferences<\/li>\n<li>Converstibles<\/li>\n<li>Options<\/li>\n<li>Loans<\/li>\n<\/ul>\n<\/li>\n<li>Dilution<\/li>\n<li>Market fundamentals<\/li>\n<\/ul>\n<\/li>\n<li>Differences between sectors\n<ul>\n<li>Expectations in ICT, life sciences etc.<\/li>\n<li>Development stages of sectors<\/li>\n<\/ul>\n<\/li>\n<li>Effects of later stages\n<ul>\n<li>Effects of specific further rounds<\/li>\n<li>Effects of general later stage trends on angel rounds<\/li>\n<\/ul>\n<\/li>\n<li>Pre-revenue valuation methods\n<ul>\n<li>Benchmarking<\/li>\n<li>Replacement method<\/li>\n<li>Modified Berkus method<\/li>\n<li>Rule of thirds<\/li>\n<li>Standard value<\/li>\n<li>IPR valuation\n<ul>\n<li>IPR piracy<\/li>\n<li>IPR erosion<\/li>\n<li>IPR dilution<\/li>\n<\/ul>\n<\/li>\n<li>Value later<\/li>\n<\/ul>\n<\/li>\n<li>Pre-money myth<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-6\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Additional capital<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-6-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Syndication\n<ul>\n<li>Syndication process<\/li>\n<li>Due diligence for syndication<\/li>\n<\/ul>\n<\/li>\n<li>Sidecar funds (pre-committed capital pools)\n<ul>\n<li>Size<\/li>\n<li>Advantages<\/li>\n<li>Cautions<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-7\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Negotiation<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-7-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Negotiation fundamentals\n<ul>\n<li>Separating people and deal terms<\/li>\n<li>Focusing on interests rather than positions<\/li>\n<li>Inventing options for mutual gain<\/li>\n<li>Using objective criteria and fair procedures<\/li>\n<\/ul>\n<\/li>\n<li>Negotiation strategy<\/li>\n<li>Negotiation tactics<\/li>\n<li>Negotiating specific deal terms\n<ul>\n<li>Deal structure<\/li>\n<li>Amount of money invested<\/li>\n<li>Valuation<\/li>\n<li>Use of proceeds<\/li>\n<li>Takedowns<\/li>\n<li>Dividends<\/li>\n<li>Conversion features<\/li>\n<li>Stock option plan<\/li>\n<li>Vesting<\/li>\n<li>Right of first refusal<\/li>\n<li>Voting and veto rights<\/li>\n<li>Redemption<\/li>\n<li>Liquidation preference<\/li>\n<li>Anti-dilution<\/li>\n<li>Redemption<\/li>\n<li>Board seats<\/li>\n<li>Information rights<\/li>\n<li>Closing conditions<\/li>\n<li>Closing date<\/li>\n<li>Expenses<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-8\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Typical documents<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-8-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Accredited investor declaration<\/li>\n<li>Term sheet\n<ul>\n<li>Term sheet usage<\/li>\n<li>Term sheet content\n<ul>\n<li>Basic information<\/li>\n<li>Proposed investment details<\/li>\n<li>Type of security<\/li>\n<li>Deal terms<\/li>\n<\/ul>\n<\/li>\n<li>Key terms<\/li>\n<\/ul>\n<\/li>\n<li>Shareholder agreement<\/li>\n<li>Subscription agreement<\/li>\n<li>Stock options agreement<\/li>\n<li>Voting trust<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-9\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Helping portfolio companies<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-9-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Roles\n<ul>\n<li>Board member<\/li>\n<li>Networker<\/li>\n<li>Advisor<\/li>\n<li>Coach<\/li>\n<li>Operational<\/li>\n<\/ul>\n<\/li>\n<li>Background knowledge\n<ul>\n<li>External awareness\n<ul>\n<li>Political factors<\/li>\n<li>Economic Factors<\/li>\n<li>Social factors<\/li>\n<li>Technological factors<\/li>\n<li>Legal factors<\/li>\n<li>Environmental factors<\/li>\n<\/ul>\n<\/li>\n<li>General business\n<ul>\n<li>Business structures<\/li>\n<li>Business processes<\/li>\n<li>Functional disciplines<\/li>\n<li>Management<\/li>\n<\/ul>\n<\/li>\n<li>Startup teams\n<ul>\n<li>Building<\/li>\n<li>Reinforcing<\/li>\n<li>Managing<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Company focus\n<ul>\n<li>Operations<\/li>\n<li>Agenda<\/li>\n<li>Drivers<\/li>\n<li>Strategic fit<\/li>\n<li>Commercial benefits<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-10\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Later rounds of investment<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-10-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Shifts in expectations<\/li>\n<li>Dilution<\/li>\n<li>Angel protection<\/li>\n<li>Successful follow-ons<\/li>\n<li>IPOs<\/li>\n<li>Alternative sources<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<section class=\"av_toggle_section\"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\"  >    <div class=\"single_toggle\" data-tags=\"{Alle} \"  >        <p data-fake-id=\"#toggle-id-11\" class=\"toggler  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"headline\"  style='color: #000000; border-color: #ffffff; '>Exits<span class=\"toggle_icon\" style='border-color:#000000;'>        <span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p>        <div id=\"toggle-id-11-container\" class=\"toggle_wrap \"  >            <div class=\"toggle_content invers-color  av-inherit-font-color  av-inherit-border-color \"  itemprop=\"text\"  style='color: #000000; border-color: #ffffff; ' ><ul>\n<li>Types of exits<\/li>\n<li>Dealing with losses\n<ul>\n<li>Understanding<\/li>\n<li>Respecting<\/li>\n<li>Letting go<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n            <\/div>        <\/div>    <\/div><\/section>\n<\/div><\/p><\/div><\/div><!--close column table wrapper. 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