时间：2019-04-30 10:23:58本文内容及图片来源于读者投稿,如有侵权请联系xuexila888@qq.com 腾宇 我要投稿
Experience and expertise
Experience is one of the critical ingredients an investor brings to the party. Often, as founders themselves, they've walked in the entrepreneur's shoes and have faced the same challenges before. Alternatively, they're career investors who've seen a boatload of portfolio companies jump over the same obstacles.
Either way, they've seen many of these movies before. Take advantage of their pattern recognition and eagle-eye view on your industry landscape to get insights into where things are headed and what competitors and other startups in your field might be working on. It's your job to find the investor with the right expertise and lean on it heavily.
Expertise is worthless without availability, however. While a potential investor may have helped build Facebook from 1 million to 2 billion users, how available will that expertise be to you? An unavailable superstar is just a check in the bank or a name on the cap table. An investor with too many portfolio companies can also be a red flag, as their attention will be spread thin. The right investors not only invest their dollars, but also their time and expertise.
Important caveat: Not every founder needs a VC to take a hands-on approach. For rocketship startups, the best way for VCs to add value is often just to write a check and get out of the way.
Expertise is great, but ultimately a business that doesn't hire good people and grow revenue is not going to be successful. The right investors can help you with the day-to-day drudgery of building a company.
When an investor comes on board, their network should become your network. They should introduce you to potential exec hires or connect you to business development leads. As part of an investor's diligence, they may call potential customers that they can connect you to during their process, adding value regardless of whether an investment comes through. The right investors also raise the profile of their portfolio companies through press connections or inside access to events through speaker slots or free passes.
Don't be afraid to regularly ask your investors for help. VCs aren't passive bankers –they're network-rich former entrepreneurs or industry folks who invested precisely because they felt that their unique backgrounds allowed them to give you a competitive advantage. They have skin in the game and your success is their success.
Future financing and exits
Part of your startup's journey is to grow in revenue and valuation, raising steadily more and more money from different kinds of investors. The right investor will add value by helping you complete your next round of fundraising by connecting you to their VC community network. If you happen to be the belle of the ball and spoiled for choice among investors at the next stage, your current investor can provide insights into your options.
Finally, investors can help you decide when and how to exit your company. They have either exited their own companies or helped their portfolio companies do the same, so they are well equipped to help you reach a successful outcome. They can intro you to the right corp dev people and provide strategic advice as conversations progress. When conversations progress far along enough, they can help you sift through matters of culture fit, post merger integration, value capture in an earn-out deal, and of course, deal terms and price.
Get a full-time cheerleader
Investors add value in two primary ways: their internal attributes and their external resources. Internal attributes are the expertise they bring and the willingness and availability they have to share it with you. External resources refer to the network they can deploy on your behalf, whether it's a megaphone in the press or a whisper in the ear of the right corp dev exec. The best early-stage investors add value on both sides of the coin.
Ultimately, you want a true consigliere that you can call day or night to ask for advice, not just someone who reports for duty at board meetings. Running a company is a 24/7 endeavor – investing in one shouldn't be the domain of part-time cheerleaders who only chime in once a quarter.
Learning to set investment goals is one of the most important things you can do as a new investor because it helps you keep track of where you have been, where you are, and where you are going as it pertains to your personal finances and your journey to financial independence.
Here are the first 5 questions you need to ask yourself when setting investment goals for financial independence.
1.What is “your number”?
In order to reach financial independence from your portfolio, how much monthly passive income would it require if you were to withdraw no more than 3 percent to 4 percent of the principal value each year?
为了从你的投资组合中实现财务独立，如果你每年提取不超过本金价值的3 %到4 %，每月需要多少被动收入?
That is the amount of money it would take if you wanted to live off your capital without having to sell your time to someone else while enjoying your desired standard of living.
2. What is your risk tolerance?
No matter how successful you are or how much money you amass, some people are wired in a way that fluctuations in their portfolio’s market value leads to enormous levels of emotional misery. [/en
[en]They’d rather end up with less money in the future, and enjoy a lower rate of compounding, but have a smoother ride.
Learning to be honest with yourself about where you fall on that spectrum is a big part of fiscal maturity. For example, though it can put you at a significant disadvantage under most circumstances, you don’t have to own stocks to build wealth.
3.How do your moral and ethical values influence your portfolio management strategy?
Do you plan on spending all of your capital during your lifetime or do you desire to leave behind a financial legacy for your heirs and beneficiaries?
If you spend through your capital, it means you’ll be able to enjoy a higher withdrawal rate than you could support otherwise.
If you don’t, you’ll get to take a small cut of the stream of passive income from your holdings but the principal should grow over time, provided it is prudently managed, serving as what effectively amounts to an endowment.
4. Will you limit your investments to your home country or expand globally?
Despite the uptick in nationalism that has occurred beginning in the year 2016, the forces of globalization are real, they are powerful, and they mean than anyone with access to a brokerage account can become an owner of firms throughout the world.
You can be a teacher in California and watch money come in from your holdings in Canada and France.
While this introduces additional risks of permanent capital loss, as well as other risks such as currency risk and political risk, it also offers greater diversification and potential exposure to market performance that may turn out to be better on a risk-adjusted basis than that which would have been available from a domestic portfolio alone.
5.What is motivating you to achieve financial independence?
While some people are natural savers—they tend to accumulate without really needing a reason to do so as they live below their means and don’t really know what to do with the difference—most people are driven by some primary or secondary motivation that causes them to pile up capital.
It is extraordinarily important that you look within yourself and honestly answer the question, “Why?”.
Why are you compelled to save?
What makes you want to invest rather than spending or donating the money that is flowing through your hands?
Often, by getting to the heart of that question, you can better design your portfolio to achieve whatever it is you are really pursuing.