Speak to most angel investors or early stage VC’s and most will tell you they love your business idea or concept, but to come back once you have created your product and have some traction or proof of concept. I can’t help but agree with their logic. They, and rightly so, want to see how far you can get on your own in order to judge how much further you could go with their investment.
People often ask me what the majority of investors look for when considering pitches from start-ups. Is it the idea? Is it the business model? Or the amount of work that’s already been done to validate it? Of course, these are all important factors to take into account, but the main thing most look for is a great team. I’m no doubt different to most angel investors because I prefer to invest very early
So your idea is your passion, your be all and end all? You’re certain it’s going to be successful. You want me to invest, but you won’t?! What message does that give to any potential investor? Let me tell you. It tells a potential investor that alarm bells should be ringing – not necessarily about the business idea, but about that person’s commitment and ability to make things happen. I don’t doubt that in many
Managing a Start-Up Team is probably one of the most challenging tasks you will face as an entrepreneur. Not only will you have to self-motivate yourself but you will have to motivate and get the best out of your team; the former being far easier than the latter. However, there are some basic techniques that you can use to ensure that you get the most out of your growing team. First and foremost, you need
You may be a successful employee but does that guarantee you will be a successful entrepreneur? Not necessarily. The step from employment to self-employment is not a natural one. I’ve come across a lot of extremely successful employees who struggle to make the transition to successful entrepreneur. Why is that? One of the major reasons is that employees underestimate the nature of the task ahead of them and the skills they will need. First and
When starting a business it is important to have the right business partners on board; in any walk of life it is essential that you are supported by a good team that can encourage and help you, but with Start Ups it’s even more so. Whilst investing in start-ups and having investment discussions, I see a lot of common mistakes, but one appears to be more apparent than most when there is more than
At the beginning of this year I challenged myself to dedicate 2014 to investing in and growing two start- ups a week. This task I have set myself may be well under way, but for the aspiring Entrepreneurs I am investing in the journey is just beginning. Deciding to start your own business is not for the faint hearted. The hard work that goes into creating and developing a business should never be under estimated.
I have covered the ‘good’ and the ‘bad’ pitches in my previous post; now I’d like to write about the ugly side of what I have come across. If I’m honest, I had always suspected that there was an uglier (or darker) side to the start-up space, but listening and speaking to so many entrepreneurs, those suspicions have been more that proved – which is incredibly sad. The start-up space and working within it is
In my last article I discussed some of the good pitches we have received to date and some of the common attributes that encouraged us to invest in them. Today I’m going to take a light-hearted look at the not so good proposals, including one by someone I think must be the most unlucky businessman alive – more to come on him later! What’s a ‘bad’ proposal? In all honestly it is probably not ‘bad’
Seven weeks in and we’ve heard some incredibly good ideas, some good ideas with some flaws, and some fairly bad ideas. Add into the mix good and bad ideas with pitches that vary from incredibly good to incredibly poor, as well as entrepreneurs who are willing to listen to our experience and those that are not, and you’ll have a vague idea of what we get on a daily basis! The most important bit of