Patrick here. Agreed. In the initial outreach I gave some context and asked to meet for coffee. Here it is:
"Hi Adam,
My name is Patrick Rivera and we have not met, but since hearing about MissionU on the Rich Roll podcast I've been thinking about how MissionU has the opportunity to improve the future of education.
I've spent the last two years trying to get an internship in management consulting but was repeatedly told I didn't have a chance because I don't go to a target school. Although I eventually succeeded, I realized there are millions of people today that don't have pedigree, but do have potential. I think MissionU would be a grreat fit for me because I'm interested in empowering these people to develop skills needed to maximize their potential
Additionally, I heard you say on Lewis Howes' podcast that one of MissionU's challenges is identifying cities to expand into. I've attached some recommendations based on my research.
Would love to connect over coffee to discuss what you're working on at MissionU and see if there's any way I can help as I'll be in SF until Thanksgiving.
thanks, Pedro! yep. you can adapt the idea of research, add value, and handle objections into whatever permutation works best for your situation. that's the strategy part. best of luck, you can do it :)
thanks, Danial! exactly. the strategy isn't the literal tactics I took (e.g., spending ten hours, reaching out to one company, etc.) the strategy is thinking about cold outreach as a sales process and adapting it to your situation.
I believe this article is focused on a different type of debt - "recurring revenue securitization" (focused on companies w/ a SaSS business model).
This type of financial instrument is different from a traditional venture / bank debt instrument in a couple ways:
1. it can be more favorable to startups by making payments a % of revenue instead of a fixed amount (ala ISA's)
2. the lender can earn higher interest by "securitizing" (e.g. pooling together) multiple loans and selling them. this allows the lender to move some debt off the balance sheet and in turn deploy the cash for higher yield
3. over time, the lender could provide more favorable terms by creating more accurate risk models by ingesting data from sources like Stripe and Shopify across companies and then building proprietary data sets to manage default risk. I believe Clearbanc does something similar today.
"Hi Adam,
My name is Patrick Rivera and we have not met, but since hearing about MissionU on the Rich Roll podcast I've been thinking about how MissionU has the opportunity to improve the future of education.
I've spent the last two years trying to get an internship in management consulting but was repeatedly told I didn't have a chance because I don't go to a target school. Although I eventually succeeded, I realized there are millions of people today that don't have pedigree, but do have potential. I think MissionU would be a grreat fit for me because I'm interested in empowering these people to develop skills needed to maximize their potential
Additionally, I heard you say on Lewis Howes' podcast that one of MissionU's challenges is identifying cities to expand into. I've attached some recommendations based on my research.
Would love to connect over coffee to discuss what you're working on at MissionU and see if there's any way I can help as I'll be in SF until Thanksgiving.
Thanks in advance for your time!"