Matt Mireles the founder of SpeakerText has defined his formula for choosing an investor:
Pitching your startup to investors is a deeply personal matter. More often than not, they——politely or not——call your baby ugly. And that hurts. Good founders, I think, learn to not take the criticism too personally. But in the end, it is personal. They are judging you. And your baby. Thumbs up, or thumbs down.
And such is life. But how should we, as founders, judge them? Not all investors are created equal, after all. Once betrothed, the investor——unlike the entrepreneur——is unfirable, a step-father to your newborn startup, an undivorceable spouse in an epic marriage.
Like any proud founder, I am extremeley protective of my newborn startup. She’s my motherfucking baby, after all.
Now, I don’t claim to have years business knowledge or even neccesarily have it right——I’m doing this for the first time——but I do have my own formula.
“Do I want this guy on my board?” This, above all else, is the question.