I’m not a podcast junkie but managed to spend some time this morning catching up with The Profit Margin podcast…. so it was nice to hear Alan Watts from Halo talking candidly about angel investing, “you have to be mad”, summed it up nicely. What came out in the wash though was you can have a great product but if you don’t have a great team then forget getting help, which is a shame. If you have a great team and a duff idea then you increase your chances…. it mirrors the conversation with a founder I had yesterday. It’s a great product, can’t get help without “the team”, can’t get money to get traction to move forward. It’s the Mexican stand off I suggested in my blog post “Northern Ireland’s Tech CoFo Conundrum“. Halo’s position, from what Alan has said, can be easily shown in a decision tree*. Which, in all honesty, is a real shame. There must be an alternative, not just from Halo but all around.
* – It’s not that clean cut, of course it’s not. There’s a ton of factors that any angel would take into account. The visualisation, based on two simple variables, cancels out whether the idea is any good or not.
One response to “Halo: It’s about the team. (via @theprofitmargin)”
Creating the core team is essential (more than money) and the most difficult. Expectations and rewards are harder to manage in a start-up environment. The lack of money does put more pressure on team dynamics and is not mutually exclusive in the likely success of building a strong team. The Predictors (http://www.amazon.co.uk/The-Predictors-Maverick-Physicists-Fortune/) which I recommend for any start-up entrepreneur in the Data Science area provides an education on the complex interplay between talent, money, inspiration and success.