Imagine you had a full-time job and you screwed up nine out of ten assignments. You wouldn’t keep that job for long.
But being an investor is kind of weird. We’re wrong more than we’re right but, for some reason, people still want our opinions on their ideas.
The truth is that investors (and most everyone else) is notoriously bad at judging ideas. (Remember what most investors said about the iPhone, Uber and AirBnB?)
If you insist on talking to an investor about your ideas, focus the discussion on your growth / distribution tactics. Talk about what else they’re seeing. Ask them why they’ve chosen to invest (or pass) on other opportunities. Talk about everything but the idea.
Stop asking for advice and opinions. Learn to extract information.Stop asking for advice and opinions. Learn to extract information. Click To Tweet
Also published on Medium.