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I remember meeting a business angel like late 90 early 2000. It was just a lunch for chit chatting no project involved. One of the key point of what he shared t
by netmonk 4y ago
I remember meeting a business angel like late 90 early 2000. It was just a lunch for chit chatting no project involved. One of the key point of what he shared this day was: « i only invest in project where there is an explicit and mutually agreed exit strategy defined ».
This was the best indicator for him of the seriousness of the candidates.
- varispeed 4y agoAkin to "pump and dump". They don't look to create product that makes a difference while making money, but at making money only. That's a red flag and I would never work with someone like that.
- netmonk 4y agoWhen you get married most of the time you don’t even consider « what if » divorce. Exit strategy is all about divorcing with your married co-founder partner. Most un-forçasted divorce are disaster for one side or both. Same apply with business partner, only looking at the honey-moon without never considering that one day you may divorce and should talk seriously about mitigating all the consequences before it occurs, is the best path to failure and bankruptcy . Divorce is the first cause of personal bankruptcy in the world cause 99% of people never prepare for a potential divorce years before. When you are young and broke at univ dorm it’s easy to share a commun fighting spirit with another and everything run smoothly. Year after when $ millions are at stake, it often turn out that lake of legal preparation is an open door for lot of dirty jobs.