1 00:00:00,000 --> 00:00:03,520 I really want to ask like as a mentor, as an investor 2 00:00:04,000 --> 00:00:05,653 How, what would be the 3 00:00:06,670 --> 00:00:09,670 The elements for you, to choose somebody to work with 4 00:00:10,000 --> 00:00:13,488 Let's say that personality that proactive taught you 5 00:00:13,918 --> 00:00:14,420 Yeah 6 00:00:14,714 --> 00:00:15,294 Okay 7 00:00:15,821 --> 00:00:20,063 By far the single most important thing is teachability 8 00:00:20,690 --> 00:00:24,879 Will they listen if someone who might know more of them says some should be different? 9 00:00:24,879 --> 00:00:28,006 I guarantee you, virtually every investor I know 10 00:00:28,400 --> 00:00:33,006 if you come across as stubborn or unwilling to change your views 11 00:00:33,006 --> 00:00:37,607 in the face of maybe someones informed opinion. It's over, nothing's going to happen 12 00:00:38,394 --> 00:00:39,695 It makes perfect sense too 13 00:00:40,000 --> 00:00:44,535 Whether you're in school or work, even playing a game with somebody 14 00:00:44,535 --> 00:00:48,645 you know, if you're really stubborn and it has to be your way and I say my way or the highway 15 00:00:48,645 --> 00:00:49,803 it doesn't work that way 16 00:00:49,803 --> 00:00:50,773 It's not how the world works 17 00:00:51,813 --> 00:00:56,493 Community's function through cooperation not through having a position sticking to it 18 00:00:56,493 --> 00:00:57,156 no matter what 19 00:00:57,156 --> 00:00:58,320 That's the biggest thing 20 00:00:58,320 --> 00:01:01,974 Then after that, you want to see, are they clear and concise about 21 00:01:01,974 --> 00:01:05,564 Again, the problem they're trying to solve in the solution, they think will solve it 22 00:01:07,102 --> 00:01:08,640 What is the demand like in the market? 23 00:01:08,640 --> 00:01:11,207 How much do people really want this problem solved? 24 00:01:11,207 --> 00:01:13,890 Competitors. Who else is doing it? 25 00:01:13,890 --> 00:01:17,966 It's unlikely that nobody else is trying to solve the problem you're trying to solve 26 00:01:17,966 --> 00:01:20,451 Because there's so many people doing so many things 27 00:01:20,451 --> 00:01:22,990 A lot of folks think no one else is doing this 28 00:01:23,164 --> 00:01:25,341 If I hear that it's over 29 00:01:25,341 --> 00:01:30,284 because I guarantee you, just because you don't know about it 30 00:01:30,284 --> 00:01:31,581 Doesn't mean it isn't happening 31 00:01:31,581 --> 00:01:33,887 A lot of things happen in stealth 32 00:01:33,887 --> 00:01:35,760 and you're never going to know until it comes to market 33 00:01:35,760 --> 00:01:37,862 So you should always assume others are doing it 34 00:01:37,862 --> 00:01:40,000 You have to be on, you have to be the best 35 00:01:40,000 --> 00:01:44,010 at what you're trying to do to survive the threat, they might represent 36 00:01:44,010 --> 00:01:47,805 And then I would say the clarity about how realistic are you 37 00:01:47,805 --> 00:01:51,066 about the actual process involved in developing your solution 38 00:01:51,415 --> 00:01:52,681 That's the start to finish 39 00:01:53,000 --> 00:01:54,950 So it's problem, you're trying to solve 40 00:01:54,950 --> 00:01:58,185 The solution, you're trying to do with. Who else is doing it? 41 00:01:58,570 --> 00:02:01,164 What's the qualification of the team that you've assembled around you 42 00:02:01,164 --> 00:02:02,476 even if it's just you 43 00:02:02,476 --> 00:02:08,513 And then how much time and money and risk will it involve to get to some stage of? 44 00:02:08,855 --> 00:02:09,800 Here's what we're trying to do. 45 00:02:09,800 --> 00:02:11,194 We think it works well enough 46 00:02:11,274 --> 00:02:12,151 Please give it a try 47 00:02:12,151 --> 00:02:16,612 Do some beta testing, get the feedback and improve it and then get ready to release 48 00:02:17,638 --> 00:02:21,562 I feel like what we normally call a coachable, right? 49 00:02:22,433 --> 00:02:24,127 Exactly, same thing, same thing 50 00:02:24,127 --> 00:02:28,625 Yeah, coachable makes it become more like a border 51 00:02:28,625 --> 00:02:31,000 because sometimes it's not about right or wrong 52 00:02:31,000 --> 00:02:37,140 It is about like, let's open another perspective and - right - do something about it 53 00:02:37,140 --> 00:02:40,460 if not why we need to be here together, right? 54 00:02:40,900 --> 00:02:46,550 So if someone gives some perspective or help you to have another perspective 55 00:02:46,550 --> 00:02:50,787 let's do something about it to test it out and co-create that journey 56 00:02:50,787 --> 00:02:52,778 right, so it's really two things 57 00:02:53,200 --> 00:02:55,351 Is someone willing to listen to somebody else's opinion? 58 00:02:55,351 --> 00:02:57,482 And are they willing to admit? 59 00:02:57,482 --> 00:02:58,764 They don't know at all themselves 60 00:02:59,270 --> 00:03:01,150 That's a big, that's a big one 61 00:03:01,150 --> 00:03:04,048 That's a lot. We call it know-it-alls, lots of know-it-alls out there 62 00:03:04,260 --> 00:03:07,027 Even I've been accused of being a know-it-all but I think that's wrong 63 00:03:08,565 --> 00:03:11,000 I just feel like it is same 64 00:03:11,000 --> 00:03:14,584 Maybe the same as but I would look at it as somebody 65 00:03:14,584 --> 00:03:19,827 who partly be honest enough for with themselves to know that where they are now 66 00:03:19,827 --> 00:03:22,909 and what they want to do and whether they want to go 67 00:03:22,909 --> 00:03:25,721 and then there's somebody who co-create the journey with them 68 00:03:25,721 --> 00:03:32,181 and they should make the best out of that, instead of sticking to the previous patterns 69 00:03:33,251 --> 00:03:37,098 Otherwise there's no reason to actually having somebody else to co-create the journey