Quick Answer Blog
Question: For Investors is it the people or idea that’s more important?
Answer: It’s about the people they solve the problems.
Angel investors are often asked is it the people or idea you invest in. It looks as if I have given you a simple, clear answer. In a way, I have. It is the people. The reason being, problems change, and you need to know the management team can deal with tomorrow, and future years’ problems. The complete answer is it’s about the people they solve the problems, create value and business models. The key point being, an idea which is fantastic in the mind of the inventor, or today, is of NO VALUE, if nobody buys it, or if it is useless tomorrow.
Great people spot a problem to be solved, choose a valuable idea, solution, business model, strategies, plan and will make it happen. Do their answers add up? Does the story match your understanding? Questions are about people and the business – they are inextricably linked. Especially at the beginning of a business. And when the owner is standing in front of you appealing for funding. Their livelihood literally depending on it. It’s fascinating, life-changing, moving, and we see it happening at our pitches. The situation is clear. For Investors is it the people or idea that’s more important? It’s about the people they solve the problems create value and business models.
Peter Eales BA Hons Chartered Marketer FCIM FIDM
Founder Director Dorset Business Angels
MD o i solutions limited