Why Are You Building This?

When I went into the trading business I would have said I was doing it for the money. Once I traded awhile I would have answered it differently. I loved the autonomy and competition.

I started Hyde Park Angels to help entrepreneurs and angels and to do something for the city I grew up in

I am doing the fund I am in because I truly believe Fin Tech innovation can change lives and raise standards of living   I believe strongly in free markets and capitalism  plus I love working with seed stage entrepreneurs and enjoy participating in helping them build their dreams

The title of this post is a good question to ask an entrepreneur. There isn’t a right or wrong answer.  It can give you a window into the soul of someone if they are transparent. If they are a fake it till you make it person they will try and figure out what you want to hear and answer accordingly.

I like it because it can drive more questions.

Do you need funding for this because you can’t get another job and this seemed like a good way to support yourself until something better comes along?

Do you need funding because if you don’t get it you can’t get your green card and stay in America?

Did you hunt around for a seemingly good idea and are just being mercenary and solving a problem so you can make a big pile of money?

Did you have personal experience and just have to solve this problem because?

If you apply Hackman-Oldham Theory of Motivation to the answers you’ll realize who will stick with it and who will quit when it gets tough.  Because there is a 100% probability it will get tough.