First, you’re going to need a bank to deposit that big VC check. :)It’s best to work with a bank that focuses on startups. Kruze Consulting loves First Republic. These banks specialize in startups. Their customer service is fantastic and their online banking systems are great which makes it easier for us and lowers your bill. If you need a referral to First Republic, just let us know!Second, it’s a good time to start expanding your recruiting work. Entrepreneurs often underestimate the ramp time to actually hiring new team members, and if you fall behind in recruiting, you’ll fall behind on your operating plan and milestones. We recommend “Recruit” to jump-start your recruiting efforts. Don’t delay your recruiting, you’ll fall behind.Next, you need an accounting firm! Kruze is the best and we’ll handle your taxes, your monthly accounting, give you a Fixed Fee for your Monthly Close. Having accurate financials allows you to pinpoint where you’re spending your money and report back to your VC’s. VC’s need real reporting and also want the company to be in Compliance (Taxes, State Registrations, etc). Hiring an accounting firm like Kruze will solve this problem and give you peace of mind too.Fourth, it’s never too early to plan for your first board meeting. That first meeting is the foundation of the relationship of the relationship with your VC’s. If you’re prepared, have accurate financials and lay out your milestones, your VC’s will breathe a sigh of relief. Discuss your key initiatives, where you’ll be spending the VC’s money and drive a consensus. If the first Board Meeting is done right, it will instill a lot of confidence in your VC’s.Finally, you want to start evaluating Venture Debt. Lenders love to come into a company that has raised a fresh round of equity. That way there is no adverse selection for them. Everyone is happy and it’s easier for the lender to make a commitment. The old saying, “You need money to borrow money,” is true. Lenders will give your startup a forward commitment so you can draw the money in the future when you need it and that way you don’t have to draw the money right away and needlessly pay interest. Get the debt in place right after the round and you’ll be happy you have that runway extension later. So, to reiterate, establish a startup bank (First Republic), accelerate your recruiting efforts, hire an Accounting firm like Kruze Consulting, prep for your first board meeting and put a venture debt line in place!