Jonathan Pan former CEO of Ember talks with Mark Register about aligning a startup with an investor
Mark Register – How do you match the right investor with the right investee?
Jonathan Pan – That’s something I had to really think about over the past couple of weeks.
To start off I would like to say our investor caught some slack because people thought he just peaced out but it wasn’t like that.
The business situation just changed.
In Challenger and we saw in EU LCS, none of the Challenger teams qualified.
We’ll see what happens in NA LCS next week and then we can determine some facts from that.
I thought the hardest thing was to raise money but it really isn’t I think the hardest thing is to keep your investor aligned with you.
You don’t just take someone’s money and figure out how to align with them.
You could do that.
Although now I understand the adage of spending a lot of time just fundraising and part of fundraising isn’t just to get money for your company.
That’s a big focus for entrepreneurs and for myself.
For entrepreneurs, take some time to actually get to know your investors.
Know how they are like when they are in a great mood and know how they are like in a terrible mood.
When you’re in a fund raising situation everybody’s presenting their best image.
So of course everything looks rosy or happy, you signed a deal, everyone’s giddy, it’s a giant party, but like all startups things might take a worse turn here and there and that’s where you want to figure out, where is your investor at, where are you at, and are you guys going to be aligned when things don’t go perfectly?
It’s just a matter of taking time to learn about the other person.
That has nothing to do with my investor I think he’s a wildly successful man by all means.