The first time I brought on investment was 2009.
I was 22 and playing online poker Sit-and-Gos (SNGs) full time. I had a large enough sample size of games played with an okay ROI. Investors covered buyins and played an active coaching role. Negotiations were simple. Risk was higher, but the games and stakes I played were beatable to the tune of ~18% ROI (before receiving coaching, structure, and accountability).
The ROI investors in startups look for is obviously very different from online poker SNGs. But similarities do exist between the early questions and communication.
Here are some questions (bullet points are personal reactions and opinions) I've been asked, as Nebullam goes through its seed round of funding this year. Please note that these questions often fall more on the seed stage and angel investor side for startups--I can only speak on what I've experienced.
1. Are you coachable?
I'll leave it at those 6 for now.
1 common ending question I've found myself asking to investors lately is, how will you react when I call with bad news?
I'm trying to set a stoic tone early on, and bad news is inevitable. Why not hear about how a shareholder may respond, or has responded with past bad news?
What are your thoughts or criticisms?Tweet me @MooneyMillions
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