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If you were in SuccessionIf you were in SuccessionIf you were in Succession
If you were in Succession

If you were in Succession

you WOULD have won because we got you, bestie. Three important lessons to keep in mind based on the show's season finale.
Regina Pernaz
Content Specialist
June 1, 2023

Ok, Succession fans and not-so-fans, we need to talk.

Spoilers? No.

Reasons to watch the show? Nah.

Lessons, founders.

We bring lessons on how to not f*ck up your venture and ambitions based on everything the Roy siblings did and did not do: ⭐ early-stage startup edition ⭐ –  and we ain't counting going to therapy on this list.

Again, no spoilers, relax Tomi.


Lesson #1: Find trustworthy partners

Finding the right co-founder is a serious business, so if your partner prospects are giving Roy-sibling vibe, don't do it. You can love them, but they are not serious people. 🦂

Instead of going with the fam, date. That's what Mario García, co-founder of Gabu, did with Fernando Corral, his now co-founder, when he was looking for a business partner.

These are some hot date topics Mario and Fernando discussed:

  • Each person’s visions and how compatible they were.
  • Personal beliefs, ideas, and expectations.
  • The hard question: who'd be the boss – talk about this one and avoid fighting it out for 4 seasons like the Roy siblings, PLEASE.

👉 Learn more on how to find a good co-founder.

Lesson #2: Retain the decision-making power

Votes on board meetings can shift your company's direction in the last 10 f*cking seconds, so be aware of how much power you are giving away – and again, to whom. 🦂

You can do this by, first, keeping an eye on your founder equity dilution.

Founders of startups are used to losing the majority of their company’s ownership by the time they raise Series B funding. But sometimes this happens even earlier, and that's a problem.

This can happen if:

  • Ownership was excessively diluted during previous funding rounds;
  • Startups participate in multiple accelerator programs;
  • It's taking longer to achieve profitability.

👉 Here's how you can prevent excessive equity dilution – so that mood swings don't affect you.

Lesson #3: Review the term sheets TWICE

Nobody wants to feel like winners only to discover that the tiny clauses on the term sheet were tricky red flags from the beginning.

Term sheets are a good indicator of what type of investor you’re dealing with, after you've seen how much they wanna dilute you.

Unluckily, red flags in those contracts are not in plain sight for the common folk. When you're negotiating the very first funding for your startup, these flags might blend into the background – and you won't be winning nada, Greg. 🚩

👉 Here are 3 ways to avoid falling into pitfalls inside tricky clauses.

But hey, you know what you should actually copy from the Roy family? The power that comes with having a strong network.

Luckily for you, anybody who is somebody will be going to Vamos Latam Summit this September, so that might be a good place to make your contact list on point. 😉

(We might even have people coming down from helicopters too, because you know, São Paulo and all…🚁)

Win the game

Fundraising recipes by Latitud Go

🥒 Recipe #8: Don't go chasing the big VCs first.

When you f*ck it up – because you will f*ck it up eventually – you won't be ringing a16z's support line, right? You will call another founder who has f*cked it up BIG TIME like you.

That's when Angel investors jump in.

Most of them have experience on both sides of the table, so they will bring their investor experience, as well as their founder side.

So leave a portion of your round for them. You won't regret it.

📌 Are you a Brazilian startup fundraising and need some help to incorporate? Visit Latitud Go and check how we can make your life easier 😎

Visit Latitud Go

Hot News Ahoy! ⛵

💪 Leave it to Leeve

Levee, the leading platform in helping the service sector find, hire, and retain the best talent just announced a new round of fundraising from investors such as 8VC, 500 Global, Gaingels, Capital Factory, Recharge Capital, and Latitud (I've heard this last one is pretty cool).
Congrats, Derek Fears and Jacob Rosenbloom for raising this new round!

💰 Kapital got capital

Mexican fintech company Kapital secured US$20M in a Series A round and US$45 million in a debt facility, less than a year after securing a US$8.6 million Seed round. Damn 🔥

🏦 Ua-la-lá

Ualá, one of the fastest-growing fintech companies in Latin America, acquired ABC Capital Bank in Mexico. The purchase marks a significant step in their expansion efforts and commitment to advancing financial inclusion in the region.

-> Every time your friends subscribe to our newsletter you win the game, so ask them to subscribe!

Stay tuned

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