Having coffee with fifty people is a great way to get input for a new project, startup or career move. I first wrote about the fifty coffees idea in Inc Magazine and it was based on an insight from Silicon Valley investor Mark Suster. Personally, I’m a bit shy so meeting fifty new strangers was a great project for me.
Last year, I wanted to immerse myself in London’s design and innovation scene so I had coffee with fifty people working in the industry. I learned a lot from their advice and even more from the questions that they asked me. I asked them about the future of innovation, design thinking and how different companies are adapting to social media. It was also a good excuse to check out some new cafes for my coffee blog the Coffee Hunter.
Lance Wiggs is raising a fund to invest in high-growth tech startups. He’s ex McKinsey and has been working on the Better By Design programme for a few years so he’s a super smart guy. I’m excited about his journey but he’s made some mistakes along the way that we can all learn from. There are lessons in this story for all of us who are involved in capital raising for early stage companies.
It’s useful to compare a few of the new ways that early stage investing is happening around the world. Angel syndicates, follow funds and accelerator funds are some of the most interesting ways of investing in startups today. They all put a layer between you and the startup that you’re investing in. But for lots of investors that’s a good thing.