They want to know that their investment will be put towards giving the business the best chance of succeeding. Investors want to know how the investment will be used in terms of building the best team possible. From highlighting potential gaps in skillsets and team members, to considering the most appropriate choices for board members and advisors.Īs well as this, we ask how and when these gaps can be filled either with the budget the business has currently, or following a successful funding round. All skillsets should be covered as quickly and effectively as possible.Īs part of the work we do with entrepreneurs who come to list on the GrowthFunders platform, we help them to understand the necessity of building a strong team. However, a more established team, who have been operational for more than 2 years, will have built up a fantastic team: both internally and externally. For example, a business looking to raise funding in a Proof of Concept (POC) round probably won’t have more than one person on their “team”, as it is one of the first stages of growth in fact, at that stage, the business can even be considered pre-growth. The calibre of a team is usually dependent on what stage of growth a business is at. An idea, no matter how great it is, just won’t become a viable and successful business venture without the right people behind it. However, a “B grade” team with an “A grade” idea just won’t work. How? Through having the right combination of skillsets, knowledge, drive, passion, and just plain, old fashioned hard work, grit, and determination. They can take a good idea and make it great. #1 ManagementĪn “A grade” team with a “B grade” idea can make it work.
These are in no particular order (except that “management” always comes first). The question is, which are the most important things? And how do you remember them all? It’s easy with our 5 “M”s of investing: There are so many things you need to look at when going through investment opportunities.
Rise of the Online Angel Investor series: #6
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