YouSaid · the spoken record

Joanne Wilson

lines on the record: 70
first: 2017-11-28
most recent: 2017-11-28
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“It's a great feeling every time, or people that I hear from that I am always honest with people. I've had people come through my box and say, you know, this is not a business that makes sense. Don't talk to VCs. Like you're profitable just keep being profitable. You can build a really great lifestyle business and you're going to make a lot of money and don't do it. You're wasting your time, or that is an up for me, and this is why I don't like it. I've had multiple people come back to me years later on the same thread and saying you're the only person that said no, and here's why, or this is what I should be doing, and you were right. So that is always nice and gratifying. But I think that being honest is really important.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Makes you feel, like, makes me feel like, oh my God, that's so nice. Like, I like, wow, that's like so nice you think that about that.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“It takes a lot of time. You know, I think some of the kindest things that happen to me, and again, this is a broad example because I have to think about one, is that it's always so nice when I get emails from people that they end up introducing me to someone, which you should always ask first. It's amazing how people just introduce you to random people and say, go for it. It's like, I don't want to meet this person. I don't have time to meet this person. Why are you doing that to me? Is that how people will describe me in an email? You know, that's always like.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm going to be thinking about it for days. I mean, I'm going to use that question. That is just a great question. People send me things all the time out of nowhere. Like, I'll give someone advice on the phone, or something will happen, and then something will show up at my door, which is just so nice and so not necessary. But certainly very much appreciated.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“It killed me. Like, I do, like, you know, I was like, I am pig left. You know, get out of that chair, you know? And also I'm not the number one investor. So I had a company that there was no doubt that we should have moved the founder out and brought someone else in. Took me a year to convince everyone else on the board. But if I had been the major shareholder, I would have done it. Acts of kindness God.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I could figure it out and get in there and fix their businesses because I saw what was wrong. And then I realized at one point you can't. You can't fix all these businesses. And if you lose one, Okay And that took me a long time to get there because I don't like to lose.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, I mean, so, and I do think that. In the Maybe a little more than a year. I had an epiphany that I can't fix everything. I think that that's one of the things that made me a really good investor if things got bad. I always felt like”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“It is amazing, and it's so nice to be acknowledged in that respect I'm definitely being bolder about asking for more than I would have years ago. And then when I asked, they're like, of course. I'm like, oh, okay. Yeah, what have I missing? That's okay. But the kindest thing. That's such a great question.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Wow the kindest thing that anyone's ever done for me, that's a really hard one. I mean, that's such a broad question. And people do brought kind things. All the time. In general, I think people are pretty thoughtful and particularly in the startup world. I think most people really want to help others succeed.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“And print money, and they really make a big difference. So I think we're going to see those to me are really interesting, but those are really hardcore technology-based businesses. And I'm not so sure that's necessary an area that I would invest in. There's always interesting consumer products and interesting things that are out there that are filling voids in the market that perhaps we didn't even realize was a void.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“And so, you know what? That's fun But I also think that businesses that can provide very smart applied technologies to the companies that are building today are also going to be winners. So how do you make a billion dollar enterprise company run better? You don't need to build a brand around it to the rest of the world, but to the back end if you can really help some other companies, almost like Oracle type businesses. I think that's going to be a lot of interesting plays. It's time for those businesses.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Instead of build. And I also think we're going to see a lot of people that are graduating from college or in their 20s that had this 10 years ago those people are all going to be entrepreneurs. I think a lot of them were going to see going to work for those big businesses because they want to paycheck and they want health care. And they've seen so many of them fail with all those options that were worthless. And so I think we're going to see a bit of a shift. But the companies that are interesting is certainly anything in the Bitcoin space, right? That's really interesting, cryptocurrencies, and that's not something I'm going to invest in. But I do think that's a really interesting space.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“It's really exciting to put your next $3. You know, I think that the businesses that are going to be very interesting to invest in in the next 10 years, and I think we're going to see a lot of acquisitions, particularly with large enterprise businesses that have capital, but figure, not figured out how to change with where things are going. Is there going to start acquiring more of these really interesting businesses”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“And the other thing is once you have a business, like Vince, I believe who's in trouble, is you have to anniversary your numbers the next year. So if you did $1,000, next year you have to do $1,500, and the next year you have to do $2,000. And so you always have to grow. It seems to be in that business. You're not happy with just repeating yourself and being a really solid, good business. Have to put out a new line every year. So there is not that point where it just becomes easy. It's the same thing every single season. So you're starting from scratch that makes the business extremely hard to scale.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, making a product in that business, it's just, I mean, I know all their, I don't know if there's anything, it's just a hard business, you know? I mean, I think I'll tell you what the one thing is when people realize and they're in it in SaaS businesses or just software businesses or marketplaces or those type of businesses that are very tech driven. You get to a certain point and the business just takes off and your margins are fantastic. You just got to get to that point, right? There's that point everyone looks at and goes, that's when the business really scaled.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I was a buyer, and then I ran a company in the garment center. So when you know that much information, it kind of is a bad thing. You're better off not knowing that much when you invest in a business.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think there's a couple things: is that I have a hard time putting money into fashion businesses because I was in that business. So I know so much that's probably bad.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“It is powerful because instead of creating these 3,600 units that you sell to Macy's and everyone knows, they're eventually going to go on sale, so you're not going to buy it at full price. You're going to wait until, you know, it's marked down 70%. That is not a way to make money. And so all of these changes that goes directly to technology and also a new generation of thinkers is changing the fashion industry.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“And so you have a brand like Noah, which is a male brand, which I think they've done an incredible job. The guy came out of Supreme and he does these small groups of 12s or 24s. They come out. That's it.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“The same exact price is making three thousand six hundred units, one pair. And so that has changed dramatically. And they call it fashion. And so that is one major piece that has changed in regards to building brands. So you can build a line and you can make a product and you could get it to market in a couple weeks and you don't have to make thousands of them. You could make twelve of them. And so that's a different change in the fashion world. The other thing is e-commerce. People want to buy things online. There's not a reason to walk into a store. There's not an experience that's happening in the store. People that are millennials want to have less products in their home. They don't want to spend a lot of money on things. They want things that they can buy, enjoy for a couple weeks onto something else. They don't want to own a lot of things. So all of these things have changed the fashion world.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's multiple things. One is that years ago, in order to make a shirt. In order to make it the price that people wanted to buy it at, you probably had to make 600 to 1,200 units because A retailer that would market at a certain price that they knew that they could sell it out, you had to make something in those kind of units. Now with technology, you can make one pair of shoes for you individually that are made just for your foot. You don't have to make 1200 units”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“In their 20s are looking to find something that they really care about and that they love, that they are enjoying what they're doing. And so you're seeing all of these fashion brands being built and you don't need tons of money to start a fashion brand anymore. You know, in many ways that's the long tail of Etsy. You can create a fashion brand. You can put up a shop on Etsy. And before you know it, you've created this community of people that like what you're doing.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Particularly in the building businesses in the fashion world, or the desire for more people to collect art or go to these art fairs and how that has changed the industry is that if we just even just look at the fact that we're on our phones all the time and you go to community, it's like I think that has to do with also the desire for people to be more in their homes and to create the brands around themselves, which means the environments that they create in their homes and the art that they put on their wall and the food they have in their refrigerator because they want to have more of a connection to people because they're on this phone all the time. I think that is all connected and because of really the long tail of the mortgage implosion and even the last banking crisis is that people”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm a quant, so I guess you're a numbers guy, so I totally get it. I can't It's interesting. I think about the art and the food world and the And as you asked earlier, are they all connected? And I do think that.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, yeah. I mean, I consciously... Want to invest in females, but I will say, you know, if I see a really great deal and a really smart man, I'm going to do the deal. But I do push very hard that their C-team must be a mixture of females and men, that I will not, and I've said to some of them, you know, they're like, it's really hard in this business we're at to find women. And I was like, just make a conscious decision. You are not going to interview anyone but women for this job. That's it. And you will find one.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Searching for Perfect is terrible. But women will take their time. To build the business and a slower clip and build that foundation super solid before they step their foot on the gas. That's what I have seen.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Now again, numbers are so fungible. I mean, it could be because there's less of them and they had really good valuations and exits, so it ends up that they do better than the multiple of men out there who have started businesses. I mean, who knows how these numbers were done?”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Shocker. I mean, come on, that doesn't take a rocket scientist to figure that out, you know, everyone comes from a different Place to the party. Diversity works. That's number one. Number two is that the ROI on female founders is much higher than men.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, so far, all the businesses that I have had access to, which aren't a lot, and I think one of the reasons I haven't had a lot yet is that when I started really ramping up, it was probably six or seven years ago, and I think women take longer to build businesses. And what's open, the majority of my businesses are female founders, it takes time. Also, when you're the first dollar in, you probably want to discount the first two years. You know, the ones that have exited so far, the returns have been off the charts. And I guess you can look at my... What things are valued at. And I'm doing really well. That's good. But valuations are kind of worthless until they exit. So to me, how much more interested in the exits that I've had?”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I would never do it because then I have to report to people. So that would suck. Not that I haven't been asked many, many times to take money. One person I know who actually has a fund that gives capital out, he kept trying to introduce me to other people that he was like, you know, you could do the fun with them. I was like, I'm not doing a fund. I also treat my fun like a BC does. I'm very involved. It's a full time job. I expect returns on my capital. And I know what I'm good at and what I can help and what I can. I think what's great about VC partnerships is you might have one partner who, and they all sit on different boards, invest in different companies, but as a partnership, you might find one who's really great at helping acquire businesses for a”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“To make their lives easier. For me, that's a tough one because I'm an angel investor, right? So I'm not the person writing a half million dollar, a million dollar check. But as a VC, if someone comes in your office and you're like, this is not really the right I just feel there's not something you're not onto something, but you are amazing. If I was a VC, I'd write that person a half million dollar check on the site and say, you know what? You're going to figure it out. I'm going to give you some money to do it. And I think that is a responsibility of a really good VC. Not many, I think, have the balls to do that. But I think that there should be a little pool of money in every VC fund for the people that come in the door that you just have something in your gut. You're like, these people are hustlers.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's basically a CRM system for galleries. You would think they don't have. They would all have one. But guess what? They don't.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. And he's not a kid, like at this point. You know, he's in his mid 30s. And it's just like he needs to succeed. And that's a great entrepreneur.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I'll reach out to him again. And so I reached out to him again. I got the whole pitch, and then I was like, you know what, this is really interesting. I'm going to invest in you now. And literally, he couldn't have been happier. I mean, he was like screaming in the phone. And it's great. And fast forward, he is a serious hustler. And what I'd like about him and talk about seeing things, this guy grew up in Toronto, single mother, from Jamaica, two sons, figured out how to get them into the best private schools in Toronto. He went on to get undergraduate and then I think a master's in computer science. His mother made money as a house cleaner for all the wealthy lawyers in town. And he's like, I am my mother's retirement fund. And I'm like, okay, this kid, he's going to figure it out.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't remember what the original business was, but it made no sense to me. It was like this is not going to work for the art world. I spend enough time in the art world to know this makes no sense. And he said, okay, fine. But he kept me up on what he was doing, what he was doing. He kept hitting me up and hitting me up. And he changed the product and he figured out what the business model was. And weirdly enough, I'm in LA and I'm having lunch with a investor. And he's like, you know, I've been looking at these companies. And he tells me three of them. I was like, first of all, I've talked to all three of them. I talked to them all two and a half years ago. And he's like, well, this one guy is really doing this something is interesting. And I was like, oh, that's really interesting. I said, you know what?”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“So, you want to redo your kitchen, you put it up. They connect you with contractors, they help you follow the process through to make you more at ease. And it's an incredible business. They work so far, they're doing New York City, outlying suburbs in Philadelphia, some of those outlying suburbs, and soon to be in LA as well. It's a great business. And I was the first dollar in and the company's just booming along. So that was a pretty memorable. But there was this one guy out of Toronto who emailed me in art business. I thought it was interesting. And, you know, I said to him, I don't know about this. I went back and forth and email. And please, please, please, you know, just give me half an hour of your time talk to you. And I talk to him. I liked him. I thought he had, you know, he was just a real hustler. And I said, you know, this is not an interesting business to me. But keep me, you know, keep me posted.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, there's this one guy. I mean, it's a worthwhile story. I don't know if it was memorable. I mean, like Gene from Sweden, I remember where I met her, when I met her. We sat down. She told me her idea. I was introduced from someone who I knew who would use the product. And I was like, this is genius.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh my god, I can't even think of it. I mean, there are so many potholes. I think a lot of the potholes too is people investors. You don't want to be in business with taking on the wrong. Yeah, I think that's a really important pothole. Putting money into things that make no sense early on, hiring an agency to spend a ridiculous amount of money, you're not ready for rebranding yourself early too early on makes no sense, bringing on a senior person that you don't need at one point makes no sense. Although I do tell people who are about to break into the next, if you find the right person that you know is perfect for that COO job and you are six months before you're going to go looking for it, hire them now.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, they're all in my brain in some respect. Some of them are much more engaging. Some of them I try to engage more with and they don't want to be engagers. And so, okay, maybe wasn't the best investment because I like to be engaged. I want to know that I can help them avoid potholes. I can help them think about things in strategic ways. And so I sit on way too many boards. I'm very involved at the very beginnings. I mean, even when I...”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Right, that you might have to invest in some assholes. And so, you know, I think that you have to really like who's on the other side of the table because you are going to spend a lot of time with them.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“And I do think that there is something about sitting in front of someone on the other end of the table, regardless of how great your business is, as a BC who needs to have returns to their LPs, you really do want to connect with that person on the other side of the table. You spend a lot of time with them. I mean, for me, someone comes in who's an asshole. I'm not going to invest in them. I don't need to be involved with assholes. I mean, I've met some big assholes and I'm like, these people are going to be amazing entrepreneurs. They could make me a shitload of money and I don't care. Because I don't want to deal with an asshole. You know, and so, but if you're a venture capitalist, you have a very different expectation.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think the challenges are not so cut and dry because women, and this is a generalization, tend to build businesses that fill voids in their lives. Now men could do the same and their voids are different, but years ago VCs weren't necessarily investing in the type of businesses that women were building. Now they are. And there's all different capital out there now to get. So it could be institutional money from VC. It could be from a smaller mid-sized VC. There's some incredible family offices out there that are fabulous because if you're in the real estate market and you're building a really interesting real estate platform, you might find three family businesses that understand that better than any BC you're ever going to meet in a million years. So I always tell people find people that understand your business. They're going to help you grow it because they're just as interested in your success as you are.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think they're always crossover. I mean, one thing nice is I have a list in all my companies talk to each other. And so it's really great to talk to another entrepreneur who's a peer that might have a completely separate business. But I do think that there are crossovers, particularly the constant crossover is building out your senior team and using the right products and raising capital because at the end of the day, no capital, no business. And so I think one of the things that I provide besides being a coniary to every single founder that I'm invested in is that navigating the world of how you raise capital and how you should be thinking about that. That is, I have found to be the most difficult and frustrating part.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, just in terms of they want to create a place where they make all the food and then they distribute it, and it doesn't work that way because it never makes money in the long run. And then you have to figure out how to make them in all the different restaurants. And starting them up and getting people to stay on staff and what you're valued at. And then you see consumer products businesses where the hardest part is capital. It's all about capital. Your people come in like, oh, I got into four whole foods. You're like, okay, whoopie. You know, I'm telling you, there was a huge long line ahead of you. And then you see I'm seeing trends in the consumer products business is how you almost have to be a mixed media business. You can't just be selling your consumer product to Whole Foods, but also online and also to restaurants and also in your own store. So it has to be multiple different ways to create a really big brand. And, you know, we're seeing that in CPG as well. So it's fascinating to have these little pockets of different businesses and sort of see what”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“But I'm also in SaaS businesses and I'm also in B2B businesses. So I'm kind of all over the place, but it is interesting to see that they all at the very beginnings had the same damn problems. Every single one of them. And it's interesting like being in the fast food casual, they all have the same issues at the very beginning.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“My assistant will say, I invest in really strong women and really quirky guys. No, I'm all over the place. And I think from a pure intellectual curiosity point is why I've done that. I mean, like we were talking at the beginning of seeing trends and being what's happening in New York to me, particularly in the last decade, and I want to take two years off of that. So in the last two years and before that decade, is that there was this opportunity that there were so many things starting. It was like technology and the ability to build businesses for very little money. We'll look back in the time of when everything changed, when all the new businesses started. Not that there won't be new businesses coming now, but I don't think it's fast and furious. And I think in different areas. So I am in fast food casual places like Blue Bottle or Numpang or Mexico.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“But once you figure it out Then you cater to her, and then you can grow your business. So I think some people go into business thinking, yeah, I'm a business for 30-year-olds. Well, guess what? Your business for 50-year-olds. Right. And so you have to be able to listen to what's happening to your business.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“Kind of long term goal, but you might find yourself, you have to be very aware of the white noise around you that if it's not working just because you think it's going to work, it's going to work. I just got off the phone with someone who I was the first dollar in the business and they're valued at like $200 million at this point. They're doing really well. And I remember I said to them on the phone, this is really interesting business. I understood it because I was in the retail wholesale business. And one thing you have to do more than anything else when you start this business is figure out your customer. Like you might think your customer is this 35-year-old hipster woman who is going to rent your clothing because they want to wear it on the weekends. You might find out if you pay attention to your data, it's really a 45-year-old woman who's using that clothing to go to work.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“I totally agree. There's a balance Many times when people come and talk to me, I think I put up an aura that I'm very open and honest and I want to talk big picture. And so many people, I mean, even I had this woman here this morning. She's like, you're the first person I'm telling this to. And I'm thinking to myself, that doesn't surprise me. But she was surprised. And many times we'll get into these big picture conversations. And I've said to many of them, don't share that with other investors because they'll think that you're not focused. You have to think big, but you've got to start small. And you also have to be able to realize one day after four weeks if it's not working, put everything aside and shipwright or shift left because there's something there, but you're not getting it. You know, sometimes it takes a while for the industry to get it. I'm in a business that the she finally got what she always wanted to do, but it took three years for the industry to wake up and embrace what she's doing. And so I think that you have to have some”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source
“People that are all over the place that have a hard time focusing. That is definitely a red flag. People that you just think they're too calculating that the way that they think about things almost like two MBA-ish, that's a red flag. Because at the end of the day, as much as entrepreneurial ship is being even taught in graduate school, no good idea. You're not an entrepreneur. You know, I mean, I know plenty of people I think would be amazing entrepreneurs, but they don't have great ideas. I mean, so they would be a great number two.”
2017-11-28 · Invest Like the Best · Joanne Wilson - Angel Investing and Trend Spotting - [Invest Like the Best, EP.65] · IDENTIFIED FROM THE TRANSCRIPT · source