I know that the first thing investors look for is a good strong team. Until recently, I thought that just meant the founder and co-founders. However, I was just checking out angelist, and most of the start ups list the founders, advisors, employees, references, and something called a "referrer" (which I assume is probably an angelist thing). I may have answered my own question on this, but Id really like to hear input from everyone. So my question is this;
If you were building a team, with the the future intentions of looking for funding, what would your "dream team" look like? Not naming people, but positions...like One coder, one design guy, three advisors experienced in, etc...
Thanks for your input!
Opinions vary. Here are a few:
http://gust.com/angel-investing/startup-blogs/2012/04/10/5-traits-investors-look-for-in-entrepreneurs/ http://www.bothsidesofthetable.com/2010/10/06/the-four-main-things-that-investors-look-for-in-a-startup/ http://blog.startupprofessionals.com/2011/06/investors-look-for-these-six.html http://www.geekwire.com/2012/bill-bryant-time-startup/ http://www.podiumventures.com/blog/72-5-things-investors-look-for-in-a-startup http://thedrawingboard.me/2011/09/12/how-does-an-investor-evaluate-a-startups-team/ Many boil down to Team competency (technical+market experience) , Addressable Market (size + verified customer research + traction are pluses), commitment to team & market (be it personal invested time or money - different views abound) .
My 2 cents: How well you know your target market post launch and how you are addressing it seems important of late - it's not just about how quickly you can assemble and launch, its how quickly can you validate your assumptions and adjust to feedback. A slide deck which that information goes a lot further than why you think your market and people is/are awesome!
Common sense answer, as I know little to nothing about VC...
Are you building a team just to attract investors? Shouldn't you be building a team the way in which it is best for your particular business?
Wouldn't smart investors recognize that?