Startup Funding Espresso Not Invented Here
Not Invented Here Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Not invented here is a cognitive bias defined by Wikipedia as the aversion to contact with or use of products, research, standards, or knowledge developed outside a group.\xa0 Investors can be biased toward startups that have developed the idea and strategy with the investor's input.\xa0 This leads to investments into startups that are substandard. Investors should be aware of the bias and recognize it in their decision-making process. To overcome this bias, the investor should develop a criteria for investment and check to see how the startup does or does not meet that criteria. On the other hand, investors may overlook a good startup because they had no part in developing the idea. To overcome the bias, the investor should become familiar with the business and assess it for what has been done.\xa0\xa0 The investor should look for first principles such as the strength of the team and how much traction has been generated. The investor should be open to new ideas and types of startups as the startup world is constantly changing. \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 .