WHY IT'S BEST TO AVOID LEARNING FROM YOUR MISTAKES: MARK SOWERBY EXCLUSIVE INTERVIEW PART 2
Written on the 12 May 2017 by Ben Hall
In part one of Business News Australia's exclusive interview with Queensland's Chief Entrepreneur, Mark Sowerby (pictured) told us about the 'tsunami' of talent coming through and what to do, and what not to do, when trying to get venture capital.
Now the founder and former MD of Blue Sky Alternative Investments (ASX: BLA) gives us the lowdown on how he knows whether someone is going to be a success or a failure, and why it is not okay to 'learn from your mistakes'.
What traits do you look for in someone when you're looking at start-ups? What do you want to see?
I really like to test their conviction. A lot of people, I feel you can tell that they're having a punt or that they're doing something because they have to or it's just not because it's in their DNA, so we're always trying to test whether it is in their DNA.
Was it that they really wanted to do this and have the conviction? So, what were the big decisions they made along the point to when they decided they needed capital?
"Typically, it's the ones that drag themselves up by the bootstraps