The people we meet along our travels usually guess that the driving is the hardest part of investing everywhere else. The driving, believe it or not, is the easy part.
When you visit new places, meeting people — especially entrepreneurs — is the easy part. The hard part is figuring out who to trust. After all, we’re looking for lines, not dots.
Deal terms are the second hardest part. It’s surprisingly common to see local investors using homebrewed term sheets and often “forgetting” to think about pro rata, information rights and everything else in between. If you’re raising your first round, use something off the shelf: 500 KISS, YC SAFE, Series Seed or Indie.vc.
Stay simple, keep growing and — above all else — don’t be weird.
Also published on Medium.