Cody LittlewoodManaging Principal at incubator
Bio

I've built a couple companies. Built even more things for the web. Worked for large startup investors around the globe. Wrote corporate digital strategy. Wrote a book on innovating like a startup for corporations. codelitt.com incoin.io keepupdated.co



Recent Answers


When marketing, especially in the digital arena, you want to make sure that your posts and efforts are providing value to the user. User first, yourself far second.

Your communications can provide monetary value or entertainment value. Those two are a good start for a bar and grill.

1. Giveaways are easy for you to do and they'll drive much more engagement.
2. Hidden messages in your posts that give them a secret discount passphrase.
3. Photos of your current customers having a blast. (Make sure to tag them and engage them!
4. Photo contests submitted by users of your place or food.
5. Your delicious food pics!
6. Short clips of cool processes (a bartender making a flaming Dr. Pepper for example)

There are no shortage of ideas or ways you can engage people. You have a lot going for you.

Some inspiration:
https://instagram.com/chilis
https://instagram.com/californiapizzakitchen/
https://instagram.com/themeltingpot/


Is it a convertible note? It sounds like it is. Convertible notes are structured as loans with the intention of converting to equity. If so this is very common in early stage investments.

It's a much more simple, cheap, and fast way to raise money than traditional ways. Especially in very early-stage startups, valuation is really just some number. Most angel investors are investing in a team and idea -- _maybe_ an MVP. It's very difficult to put a valuation on any of these things that's accurate. A convertible note defers the valuation of the company until later rounds when things have been proved out more.

What you should know?

The two most important things to understand in general are the conversion valuation cap and the conversion discount. Often just referred to as the cap and the discount respectively. There is probably also warrant coverage in there to be aware of.


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