Angel investors should go beyond chasing financial returns and concentrate on providing mentoring that will help start-ups grow quickly. This way, they can attract investors easily, says Alan Lim, angel investor, mentor and partner at NEXEA Angels Sdn Bhd.
“We have seen too many start-ups out there just chasing money, whereas we think they should go back and work hard on their business models. Too many start-ups fail because of that,” he adds.
“As mentors and angel investors, our focus is to ensure that the start-up founders’ mindset is right. If it is not, then it is our job to correct it and set up the fundamentals. This is the recipe for success.”
This is related to a personal philosophy that the 55-year-old lives by — that one should not live life chasing money. Rather, one should do things properly so as to attract money later on.
Alan says money has the ability to “outrun” humans and if one chases it, he will not be able to catch it. That is because a bank note has four corners and in Mandarin, the word “corner” is called “jiao”, which is pronounced the same way as the Mandarin word for “leg”, he explains.
Source from The Edge Market