We got to interview Tim Draper, the legendary investor behind Tesla, Skype, Path, Box, and Baidu (China’s Google). He is an adventurous guy who has acted in Hollywood and invested into 400 companies. We asked him how he picks out the best entrepreneurs:
Below is a part of our conversation with Tim.
Inside The Mind Of Tim Draper
Tim has a feel for finding sensational companies.
How does he do it?
He does not hide the ball about what he looks for in a company and what, in fact, looks like a great company.
There are three major things:
When you meet Tim, your job is to show him an opportunity. How big? As big as you can. He wants to go after big markets. The market for Baidu, for example, is 1/6 of the world’s population.
This would be easy if you just had to be plain smart. He wants you be a lot more than that – he wants you to know what you are really good at. He wants self-awareness, which translates into knowing not only what you are really good at, but also what you are bad at. He wants you to be better than everyone else in one specific thing, but by a large margin.
Tim did not say this word. But this is how I sum up the qualities he looks for. He wants you to know how to make partnerships and get traction. That last thing is probably the most important of all. He is really straightforward in saying how much of a hustler you need to be, “use a virus, use a magnet, use whatever you can,” he says.
Learn more with this video explanation of the infographic:
Learn even more from Tim Draper University.