Investors Don’t Know What They Want
Take a step back and be objective, and U.S. angel investors are hardly a diverse group. Not demographically diverse (sadly, we’re mostly older white men) but in opinions, preferences, and what we want in a deal, for sure.
I strongly recommend a quick tour of the ‘what investors want‘ collection of videos on this site. You’ll find 22 very short videos taken from interviews of some very thoughtful, successful, and influential investors. It’s a bit like an angel investor role call.
What reminded me of diversity was how I was struck yesterday by one of these in which one of the angel investors values certainty very highly. It’s s very short snippet, but the active quote is …
They can have a great idea. They can have a lot of support behind them, but are they certain about what they’re saying? That certainty is a critical component of what credibility is.
That’s a direct quote from a seasoned, intelligent, and articulate investor included in this series. And it reminds me that I don’t like people who project certainty forward into the future. I respect people who respect uncertainty. Give me conviction, comfort with risk, the ability to move forward … but add to that flexibility to recognize uncertainty is a given and to move quickly to react to changes.
If you’re an entrepreneur looking for funding I seriously recommend you take the half an hour or so and listen to every one of these 22 snippets. Few of them are even a minute long, all of them are substantial.
Written by Tim Berry
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Kickstarter and IndieGoGo are project-based crowdfunding platforms through which anyone can contribute money, either as a donation or with the promise that they will receive a tangible ‘reward’ of some kind if the project is successful.
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