Mike J.’s Options – Yes, No, Maybe to investing in the business
Mike J., an angel investor, talked with many small companies. Some were starting up. Many had operated for some time. Many had elaborate plans. Most didn’t get past the basics of getting the business off the ground. Jim had successfully launched the company, but did he have a clear vision of the company’s future?
Mike J. was looking for Jim to understand what an investor needed to make a decision. He wanted to invest with managers who knew from experience and their gut what was needed. He was there to invest, not to teach. He wanted managers who already kept metrics like cost of goods sold, carrying costs, and the costs to acquire customers. His investments were in companies that had the numbers in their heads with backup. These people make it. Jim didn’t even have the numbers in his head. Mike J. would take a wait and see approach with Jim.
Mike J.’s Decision – (Maybe invest if things change) Removed Yes
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