To invest at the seed or A round. My ideal team is simple:
Assuming 6 people
1. 5 engineers
2. 1 CEO who doubles as head of product management
3. Nothing else
But obviously I am open to other configurations. The key important things are:
– strong tech DNA
– dominance of tech personnel relative to others
– strong product focus on CEO
I never invest in:
– business people who outsource tech dev to 3rd parties (“to speed up time to market”)”
I’m looking to back technology companies so I naturally have this bias and I care deeply about product design, the ability of the team to have a good sense of what is working on the Internet & mobile and thus to make the necessary changes in the market as market conditions change.
But what comes after the original team? Who do you hire after you have a product built & shipped and being used in the market? Who do you hire when you raise that first $2-3 million?
My answer will surprise you and I’m sure many will not agree. But I give this advice to nearly every company I work with so at a minimum you’ll know it’s authentic and not intentionally controversial.
Your first hire after that first round of capital is an office manager / company-wide assistant.
Via Both Sides Of The Table | http://www.bothsidesofthetable.com/2011/10/28/the-controversial-first-role-to-hire-after-your-a-round/#comments-5271