What is the most common mistake that you see young entrepreneurs make?
Some young entrepreneurs have a difficult time in explaining how they become profitable. Taking on debt will solve some problems but will also cause many others. Stay focused on what your company is really about.
What is the best piece of business advice that you were ever given?
From an old banker; You will go through 3 stages in your company life, BLUNDER – WONDER – PLUNDER . Embrace the place that your at and don’t get a head of yourself.
What does it take for you to get excited about an investment?
Solving a problem that has been around for a long time. Making it simple to fix, simple to make, simple to sell.
What was your first investment?
Invested in a friend’s Fire & Sprinkler business. He had years in the business and listened to my business coaching. After 3 years, I was made whole and he had a company that is very profitable even to this day.
What do you enjoy about angel investing?
Getting to see the cutting edge products that come from the new entrepreneurs. Talking to them about how they see they can change a market or category.