18 Questions for Pre-Revenue Valuation of a Startup

How do you value a startup that has no revenue yet? You can't lean on a multiple of sales or a clean DCF, so you ask the right questions. In this video, Dr. Andrew Stotz, CFA walks through 18 questions that frame a pre-revenue startup valuation: the size of the opportunity, the strength of the team, the product and its early traction, the competitive moat, the capital required, and the risks that could sink it. → Take the next step to valuing companies inside the Valuation Master Class: https://valuationmasterclass.com/ → Free Excel — How I screen & value 5,000+ companies: https://valuationmasterclass.com/getgst/ →How to value a business: https://valuationmasterclass.com/busi... Valuing a company with no revenue means valuing its future — market size, growth path, unit economics, and the probability the team actually executes. These 18 questions help you pressure-test the story behind the numbers before you put a price on it, whether you're an angel investor sizing up a deal, a founder raising capital, or an analyst covering early-stage companies. Oftentimes, I'm asked about the concept of pre-revenue valuation for a startup. Well, that's a very difficult thing because you've got no revenue and certainly no profit. How do you value this? In my opinion, the first step in the valuation of a company is to ask these 18 questions. These 18 questions cover five areas: ✔️ Trust ✔️ Idea ✔️ Execution ✔️ Exit ✔️ Enthusiasm. ABOUT DR. ANDREW STOTZ, CFA Former #1-ranked equity analyst in Thailand (2008, 2009). Faculty, Thammasat Business School. Founder, A. Stotz Investment Research. LinkedIn:   / andrewstotz   #StartupValuation #PreRevenue #VentureCapital #StockValuation #FinancialModeling