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I often hear investors advise each other to have a contrarian point of view, not for the sake of being different, but for the sake of seeing the hidden gem that
by mikeleeorg 14y ago
I often hear investors advise each other to have a contrarian point of view, not for the sake of being different, but for the sake of seeing the hidden gem that others think is a piece of coal. The same advice has been given to entrepreneurs too.
Some advisors are harsh. Judges at a contest, even harsher. It sucks when they deflate one's balloon, but there's nothing harsher than the market. Good investors know this, and this is why they rely on traction more than anything else - even their own judgment.
In other words: If this was an idea you were truly passionate about, screw the judges and validate the idea with customers. They're you're most important data point.
Thanks for sharing the story though. I've been in your shoes many times. It's been a hard lesson to learn.