How To Hone Your Deal Selection Process
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Investors funding startups go through a great number of deals to find the ones to fund.
The investor won’t know for several months or years if the deal is going to work out or not.
The startup’s fundraising is typically over after six months or a year.
The investor often brings their personal business experience to the selection process.
For startups, this may or may not be the best way to screen startup deals.
Markets and technologies change over time, so it’s important to keep up to date with one's selection process.
Here’s how to hone your deal selection process:
For the next twenty-five startups, write out which ones you would invest in and why.
Do the same for those you would not invest in and state why.
Revisit those twenty-five startups three to six months later to find out what happened to them.
Compare their outcomes with your written projections.
This will tune your selection process by giving you more factors to consider.
From time to time, hone your selection process to find out what’s working in the startup world and what is not.
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.
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