The Startup Chat with Steli and Hiten on Smash Notes

The Startup Chat with Steli and Hiten podcast.

Unfiltered insights and actionable advice straight from the trenches of startup and business life. The show hosts, Steli Efti and Hiten Shah, are both serial entrepreneurs who have founded multi-million dollar SaaS startups. Being busy CEOs of fast-growing companies, they know the value of your time and make sure you get the most out of each 22 minute episode. Tune in for new episodes every Tuesday and Friday.

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After last episode about how to deal with investors we decided this episode should be about how to do due diligence in your company. Due diligence is basically just doing your homework on anyone you are potentially letting into the company. On today’s episode we are going to tell you how to do it and why you should do it.

Doing diligence will save you so many heartaches and headaches down the road.

Here are the topics we discussed today:

What is due diligence?

When to do due diligence.

Why you should talk to previous investments of a potential investor.

Why you should talk to the investments that had hard experiences with the investor.

What the references from a potential investor can tell you.

How to use storytelling and examples to learn more.

Steli’s “discouragement game” and how that can help with references.

Why you should focus on investments that have a long history with potential investors.

The usefulness of background checks.

How social media can help your decision.

What happens when you don’t do your due diligence.

We invite you to join our Facebook group.  It’s great to have such an incredible group of entrepreneurs out there making it happen every day.  We’d love to hear from you; please feel free to join our Facebook group and share your experiences, challenges, and motivation with us and the rest of Startup Chat community.

We appreciate having your email address at The Startup Chat  because we’ll be sharing some special podcast episodes and other things exclusively with the people on our email list.  Click the link above and fill out the email address box to become part of the community today!

As always, you can hit us up on Twitter @Steli or @hnshah, #thestartupchat.

The post 134: How to Do Due Diligence on People appeared first on The Startup Chat with Steli & Hiten.

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