WEBVTT 00:00:00.000 --> 00:00:03.520 I really want to ask like as a mentor, as an investor 00:00:04.000 --> 00:00:05.653 How, what would be the 00:00:06.670 --> 00:00:09.670 The elements for you, to choose somebody to work with 00:00:10.000 --> 00:00:13.488 Let's say that personality that proactive taught you 00:00:13.918 --> 00:00:14.420 Yeah 00:00:14.714 --> 00:00:15.294 Okay 00:00:15.821 --> 00:00:20.063 By far the single most important thing is teachability 00:00:20.690 --> 00:00:24.879 Will they listen if someone who might know more of them says some should be different? 00:00:24.879 --> 00:00:28.006 I guarantee you, virtually every investor I know 00:00:28.400 --> 00:00:33.006 if you come across as stubborn or unwilling to change your views 00:00:33.006 --> 00:00:37.607 in the face of maybe someones informed opinion. It's over, nothing's going to happen 00:00:38.394 --> 00:00:39.695 It makes perfect sense too 00:00:40.000 --> 00:00:44.535 Whether you're in school or work, even playing a game with somebody 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 00:00:48.645 --> 00:00:49.803 it doesn't work that way 00:00:49.803 --> 00:00:50.773 It's not how the world works 00:00:51.813 --> 00:00:56.493 Community's function through cooperation not through having a position sticking to it 00:00:56.493 --> 00:00:57.156 no matter what 00:00:57.156 --> 00:00:58.320 That's the biggest thing 00:00:58.320 --> 00:01:01.974 Then after that, you want to see, are they clear and concise about 00:01:01.974 --> 00:01:05.564 Again, the problem they're trying to solve in the solution, they think will solve it 00:01:07.102 --> 00:01:08.640 What is the demand like in the market? 00:01:08.640 --> 00:01:11.207 How much do people really want this problem solved? 00:01:11.207 --> 00:01:13.890 Competitors. Who else is doing it? 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 00:01:17.966 --> 00:01:20.451 Because there's so many people doing so many things 00:01:20.451 --> 00:01:22.990 A lot of folks think no one else is doing this 00:01:23.164 --> 00:01:25.341 If I hear that it's over 00:01:25.341 --> 00:01:30.284 because I guarantee you, just because you don't know about it 00:01:30.284 --> 00:01:31.581 Doesn't mean it isn't happening 00:01:31.581 --> 00:01:33.887 A lot of things happen in stealth 00:01:33.887 --> 00:01:35.760 and you're never going to know until it comes to market 00:01:35.760 --> 00:01:37.862 So you should always assume others are doing it 00:01:37.862 --> 00:01:40.000 You have to be on, you have to be the best 00:01:40.000 --> 00:01:44.010 at what you're trying to do to survive the threat, they might represent 00:01:44.010 --> 00:01:47.805 And then I would say the clarity about how realistic are you 00:01:47.805 --> 00:01:51.066 about the actual process involved in developing your solution 00:01:51.415 --> 00:01:52.681 That's the start to finish 00:01:53.000 --> 00:01:54.950 So it's problem, you're trying to solve 00:01:54.950 --> 00:01:58.185 The solution, you're trying to do with. Who else is doing it? 00:01:58.570 --> 00:02:01.164 What's the qualification of the team that you've assembled around you 00:02:01.164 --> 00:02:02.476 even if it's just you 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? 00:02:08.855 --> 00:02:09.800 Here's what we're trying to do. 00:02:09.800 --> 00:02:11.194 We think it works well enough 00:02:11.274 --> 00:02:12.151 Please give it a try 00:02:12.151 --> 00:02:16.612 Do some beta testing, get the feedback and improve it and then get ready to release 00:02:17.638 --> 00:02:21.562 I feel like what we normally call a coachable, right? 00:02:22.433 --> 00:02:24.127 Exactly, same thing, same thing 00:02:24.127 --> 00:02:28.625 Yeah, coachable makes it become more like a broader 00:02:28.625 --> 00:02:31.000 because sometimes it's not about right or wrong 00:02:31.000 --> 00:02:37.140 It is about like, let's open another perspective and - right - do something about it 00:02:37.140 --> 00:02:40.460 if not why we need to be here together, right? 00:02:40.900 --> 00:02:46.550 So if someone gives some perspective or helps you to have another perspective 00:02:46.550 --> 00:02:50.787 let's do something about it to test it out and co-create that journey 00:02:50.787 --> 00:02:52.778 right? So, it's really two things 00:02:53.200 --> 00:02:55.351 Is someone willing to listen to somebody else's opinion?? 00:02:55.351 --> 00:02:57.482 And are they willing to admit? 00:02:57.482 --> 00:02:58.764 They don't know at all themselves? 00:02:59.270 --> 00:03:01.150 That's a big, that's a big one 00:03:01.150 --> 00:03:04.048 That's a lot. We call them know-it-alls, lots of know-it-alls out there 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 00:03:08.565 --> 00:03:11.000 I feel like it is the same 00:03:11.000 --> 00:03:14.584 Maybe the same as but I would look at it as somebody 00:03:14.584 --> 00:03:19.827 who's partly honest enough with themselves to know that where they are now 00:03:19.827 --> 00:03:22.909 what they want to do and whether they want to go 00:03:22.909 --> 00:03:25.721 and then there's somebody who co-creates the journey with them 00:03:25.721 --> 00:03:32.181 and they should make the best out of that instead of sticking to the previous patterns 00:03:33.251 --> 00:03:37.098 Otherwise there's no reason to actually having somebody else to co-create the journey