Diligencing the Team

Diligencing the Team

April 1, 2022 by investor

Diligencing the Team

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.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.