Here are the key components that the renowned entrepreneur looks for in new investment opportunities.
Entrepreneur, investor, mentor and Netflix co-founder Marc Randolph has been investing in startups for a long time, and says that when choosing a company to invest in, he looks for three things:
1. The people
2. The people
3. The people
“I’ve learned that it is almost impossible for me to know, based on the technology or the goto market strategy, what’s going to work,” says Randolph. “But if I find the people who have the persistence and the creativity to keep on trying until they finally figure it out — that’s a formula for success.”
For Randolph, author of That Will Never Work: The Birth if Netflix and the Amazing Life of an Idea, marcrandolph.com/the-book/, investing is not about making a quick buck. “I’ve been angel investing for a long time and the truth is, I’m a terrible angel investor. I can’t pick winners,” he explains. “But what I can do is pick people that I want to give a shot at it. I want to give them the opportunity to turn their dreams into reality. And hopefully, see some of the success that I’ve had.”
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HEY THATS GREAT! I WANT TO DO THE SAME, I WANT TO START A TRUCKING BUSINESS BUT I DONT KNOW HOW TO GET A LOAN, HOW CAN THIS BE DONE?
People. Agreed. People. Agreed. People. Agreed.