Mike J., the angel investor, reached out to check on Jim. He explained that if he detected progress, there could be an investment. Jim was excited as well and recounted all his recent accomplishments. Mike J. was not satisfied, and Jim was frustrated.
Mike J. looked for entrepreneurs who grasped a winning strategy. Part of the strategy was executing a path to profit. He had no interest in providing operating cash. Instead, he sought opportunities where investment earned money.
Mike J. reviewed Jim. He’d heard nothing more than a list of tactics. “Jim isn’t going to burn through my cash testing tactics.”
Jim was burning cash employing different tactics but none of them was effectively solving the profit problem. Mike J. invested in ventures with a clear strategy for achieving profit. Mike J. had tried to focus Jim on a strategy that could win investment. Jim wasn't there yet.
Mike J’s decision – Don’t Invest, Choice Eliminated Wait
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