The Playbook

The complete guide to raising money, rebuilt.

Our guide was first published in 2000. We're rewriting it chapter by chapter for SAFEs, crowdfunding, revenue-based financing and today's rules. Every chapter is reviewed by an editor before it's published, and each one ends with something you can do this week.

Chapters marked "Coming soon" are being reviewed. Sign up below to get each one when it lands.

1. 1

   Where money comes from Coming soon

   The main sources of money for a small business, what each one expects back, and how to pick where to start.

2. 2

   What your company is worth Coming soon

   Pre-money, post-money, how investors work backwards from an exit, and what a SAFE cap really means.

3. 3

   Founder stock and vesting Coming soon

   Splitting the company, why founders vest too, and the 30-day tax election you can never fix later.

4. 4

   Tax choices you can’t fix later Coming soon

   LLC, S corporation or C corporation, why investors care, and the tax breaks that depend on choosing early.

5. 5

   A business plan investors finish reading Coming soon

   Today that means a short deck, a one-page summary and a model. Here is what goes in each, and what to leave out.

6. 6

   Forecasts that survive questions Coming soon

   Cash first, then profit. How to build a forecast an investor believes, and why it doubles as a price tag.

7. 7

   Raising a private round Coming soon

   The legal routes for selling shares without a public offering, who can invest, and the mistakes that cause trouble later.

8. 8

   Keeping your team and your cash Coming soon

   Stock options that motivate without surprise tax bills, and the money habits that keep a funded company alive.