7
Jul
2015
1

My List of First Principles

In no particular order:

1) Empathy in every dealing with others
2) Never chase a deal
3) Never cut corners when performing due diligence
4) Practice conviction based decision making
5) Never lose sight of the facts
6) Know when to say No
7) No trust, no invest
8) Quality of Revenue or Sales Pipeline is more important than Quantity
9) Recurring Revenue is wonderful and too much of a wonderful thing is wonderful
10) If it is too complicated to understand at high level it is probably too complicated to invest in
11) Be truthful with me, always. Else, we may not do business together
12) Giving away stuff for free makes little sense. You better have a good reason and explain it to me
13) Network effects are hard to get in Fintech. If you have one I will be excited as a young puppy
14) I love org. charts. I love to learn about how teams work together. I will spend a lot of time understanding your team and org chart and make sure you have a good grasp
15) It is always better to hire a good CFO sooner than one thinks
16) Great legal advice is priceless
17) Kiss of death = you do not understand regulatory issues
18) Kiss of death = you do not understand the value of solid fp&a
19) Kiss of death = you are loose with words, even worse with numbers and forecasts or budgets
20) Proper board governance is crucial
21) If you have vision but are poor at execution it’s ok, just hire execution skills, else… = kiss of death
22) Open minded Entrepreneurs who listen = good, else… = kiss of death
23) I will always share information with peer Investors, until they prove me I should not
24) Never lose your sense of humor
25) Always keep a childlike sense of wonderment
26) Always help the Entrepreneur achieve his vision
27) Always empower the management team

Is my list of first principles too long?  Should I segment it by category?

What about your list?

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