So, you've decided to invest in a start-up. Congratulations! This is an exciting time for both you and the founder. But before you write that check, it's important to do your due diligence and make sure that this is a sound investment. Here are 10 questions to ask a founder of any start-up before you hand over your hard-earned money.
- What problem does your product or service solve?
- Who is your target market?
- How will you reach your target market?
- What makes your product or service unique?
- What is your competition?
- How will you make money?
- How much money do you need to get started?
- How will you use the funds?
- What is the timeline for this project?
- Do you have any previous experience in this industry?
Making the decision to invest in a start-up is a big one. But if you do your homework and ask the right questions, you can be confident that you're making a sound investment. These 10 questions will help get you started on the path to success.