Defining “Skin in Game” and other questions on Vegas IR media firm’s INTAKE FORM

Hundreds of people per week want to send us their 135 page business plans and think that is both free AND done by 1 person. For the sake of operational efficiency of any IR Call & Data Center we present a simple online INTAKE FORM that asks only 16 simple questions starting with “What’s your name”? Filling out half the Intake Form of 16 questions seems to be too hard for many people.

The 11th question on the Intake Form asks “What Skin Game in Game do you have? List revenues, patents, purchase orders, own equity, etc”. Other tanglible monetizable assets that count are debt-free hard asset collateral and financial instruments. And yet as simple as this question is few can answer it. Instead you get answers like “I have a great idea and I want to J/V with a 100% funder” or “I have nothing to offer tangibly” or I have a script on the back of a bar napkin.

The 9th question asks “If you were a contractual client; what are you authorizing us to do based on the following LIST of options?” At least 1 person replied’ “Not sure if I understand the question”.

The 10th question asks “Specify the type of capital your seeking AND and how are you eligible”. Few can answer the first half of the question and even fewer can answer the second half. That’s the point. And people wonder why investors nationwide reject 95% of all deal flow for the 4 reasons; incoherent, conceptual, deceptive, and NO skin in game.

The 13th question asks “How many times have you already rejected capital sources term sheets or been rejected by capital sources?”. Replies have ranged from 50 to 210 times. Literally. Then there are those who will cry wolf to object paying any construed “advance fees” to pay for down payments, attorney, appraisal, advisory, security registration fees & other non-broker operational costs.

The 15th question asks “Do you realize timelines to close differ significantly based on type of capital your pursuing?” Many reply yes and then ask how long will this take? The chart to the timelines and categories of capital is about 3 inches below the question.

The 16th question asks “By checking this box, you acknowledge that submitting this form does not make you a contractual client”. At least person thought it did when they called a month later to wonder why no progress was occurring. Never mind the title at the top of the screen says “PRELIMINARY ASSESSMENT”. And because of the sheer volume of such assumptions; all Intake Form submissions that do not coincide with a client contract in 20 days are VOID.

When people quit glimpsing at the Intake Form and start reading it; it will not be complicated like so many pretend to make it. And it sure is quicker then reading 135 pages 200 times a week… for free.

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