Barry Wormser is the principal attorney at Wormser Legal and is also a local angel investor and advisor to a number of early-stage companies in Indianapolis. He has a great deal of insight when it comes to the needs of a company, especially in the early stages, in order to set themselves up for success, or if nothing else, to be prepared in case things go sideways. In our conversation, he shared top tips for why startups should invest in legal and accounting needs early, as well as what he’s looking for when meeting a potential investment opportunity.

Topics in this episode

Founders should consult advising teams early, and have a willingness to engage with them

Things founders should have an understanding of:

Their near-term goals

Actual financials and projections that are based on sound assumptions that they can articulate

An understanding of product-market fit, and where it can go wrong

Having difficult conversations with your team at the beginning of the project

Saving money at the expense of good legal documentation is a huge mistake

The process of finding a good law firm and choosing that firm, based on how you fit together

Fundraising trends

Biggest mistakes in fundraising

Handling conflicting advice from investors

How Barry determines if a potential investment is worth his time

Contact info

https://www.wormserlegal.com/

[email protected]