Most investing teams are distributed by default rather than by design. The structure suits the business and the failures are predictable.
Investors delegate the work they most want to stop doing, which is nearly always the wrong order.
The last thing investors delegate and the thing they delegate worst. The failure is rarely that the person could not learn it.
Nearly every investor treats everyone as a contractor. It is simpler, it avoids payroll, and it is frequently wrong.
How you pay people shapes their behavior more than any instruction you give them.
Not a binder nobody opens. A procedure is the answer to a question someone would otherwise have to ask you.
The most common first hire, and it fails more often than it should. Usually because the investor hired before they could describe the work.
The hardest skill in this business is recognizing early that a conversation will not become a deal, and stopping.
A death, a divorce, a diagnosis, a deadline. Most investor training teaches a register that is actively wrong for these conversations.
The information that kills deals almost never arrives in the first conversation. It surfaces at title, or at the closing table.
The most common way an apparently done deal falls apart, and it almost always traces to the first ten minutes.
The most common moment in this business, and most investors have two bad instincts: raise the number, or end the conversation.
