What investor is looking for ?

When investors are evaluating a pitch, here is the order of how investors get interested.

1 – Is this a big problem  ( Opportunity )

2 – Is this the right solution/approach ( Solution )

3 – Is this the right team ( Execution )

It is hard to excite them on a bad idea or a small opportunity, even though the team is amazing and have an excellent way to solve a problem.

 

When it comes to investing, the order changes

1 – Is this the right team ( Execution )

2 – Is this a big problem  ( Opportunity )

3- Is this the right solution/approach ( Solution )

It is almost impossible for an investor to invest in a bad team, even though the idea is brilliant & the solution is great.

2016-03-06T15:48:03+00:00April 13th, 2015|

Finding best remote worker / freelancer

All of us have tried to outsource our work at some point. It is a very difficult process to communicate your requirements and get the work of your choice in such situations. There are multiple reasons to fail but mainly it is poor communication & lack of commitment from both ends. It is very hard to initiate and maintain long distance relations.

Here is one technique that I use while picking the right remote worker/freelancer.

– Write a job description that you would generally write for a specific task

– Scout 6 people for the same task

– Analyze all of them & pick up the top 3

– Write another task & give it to the top 3

– Analyze & pick the top 2

– Write another task & give it to both of them

– Analyze & judge if you found the winner

– Repeat the last step by giving another task

– If the choice remains same, you found your gem

– If not, go for one more and pick the one who was best twice

You found the best talent. It might look an expensive exercise, but the cost of wrong hire is multiples of what you are going to spend in this exercise. It will also help you in improving communications.

This technique should work with local in-house staff too, but it might screw up the culture if you are a startup.

 

2016-03-06T15:47:55+00:00April 3rd, 2015|