Fri, 1 April 2022
Diligencing the Team Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In diligencing a startup for investment, the team is one of the most critical factors and the one that is most often overlooked by investors. I see investors focus on the product, the market, and the competition and ignore the team assuming every skill is at the ready. The first and most important characteristic to look for in the team is integrity. If the team doesn’t have integrity, then nothing else will matter. The next is tenacity. Most startups fail because the team got bored with the project and found some other shiny new thing to work on. Next, assess their knowledge of the market. I see many CEOs pursue startups in a “hot” space in which they know very little. The ones who succeed know the market well and in particular, know the customer very well. This is important because it accelerates the path to product-market fit. Finally, look for a CEO who can inspire confidence and has more than just confidence in himself. Startups require confidence such that they can recruit employees and convert customers. For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |