| |  | | Tuesday, July 2, 2019 | Invest in the Best:
How to Find a Star Founder
|  | | | Dear Startup Investor,
We angel investors have a saying about choosing winners: "Invest in founders, not in startups."
That's because the founders are the only ones with the power to execute their unique vision. That makes them responsible for absolutely everything, from money management to product development to branding and more.
Think of a ridiculously indulgent, 3-Michelin-star restaurant, serving up a $30 salad.
The ingredients, even including one higher-priced ingredient like cheese or meat, come to a whopping $3 or $4 per serving. So what the heck makes it worth $30?
The answer, of course, is the chef, who takes ingredients anyone can buy and turns them into something amazing - an unforgettable experience, rather than just a meal.
So it is with good ideas, which are everywhere, and great founders - which are rare - with the ability to transform those ideas into a product that customers are willing and eager to pay for.
Of course, the business model needs to make sense too. No cooking staff can make something delicious from ingredients that just don't go together.
But I digress. The point is, if the team isn't right, the business won't make it.
That's why it's critical that you be able to identify a star founder when you see one...
Here's how you know.
Until next time,
Neil Patel
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