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Startup Boards -- Diligence Process - Team Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Before investing in a startup, it\u2019s important to review the diligence documents, so you understand the business.\xa0 There are three phases to diligence: Documentation diligence Team diligence Domain diligence Team diligence is the most critical part.\xa0\xa0 Gather references for the CEO and call them up to hear what they have to say about the founder, including management style, how they work, and their team dynamics. In most cases, you\u2019ve heard the CEO pitch, but it\u2019s important to understand the CEO\u2019s skills set, including what is there and what is not.\xa0\xa0 Meet with the team and assess their skills.\xa0\xa0 It helps to meet the team at their office, so you understand their environment. The team needs to bring the necessary skills to succeed. Key questions to ask include: What skills are required to be successful? What skills are currently in the team? What skills are not currently in the team? For missing skills, how do we plan to obtain them? How long have the team members worked together? What projects have they done before? How close is the current project to their previous work? What other obligations do the team members have for family, social, and other businesses? In almost every startup failure, the investor can trace it back to the team not being up to the task.\xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. ____________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .