Pop Quiz, Monday with Cody Jung
The Pop Quiz, Monday is a fun little exam that we love to give to savvy business owners. The examination is not a surprise after all since the interviewee already knew about the questions in advance. However, we can always pretend and have fun with the scenario of a young entrepreneur sitting in class nervously biting on their pencil. They are ready to take a pop quiz on a chapter that they were supposed to read the night before. Instead, they played Metroid all night on their SNES (Oops, this was me in high school). The real purpose of the pop quiz is that this is a fun way to introduce business tips from real-world experiences that you can not learn in a classroom. We want to thank our entrepreneur for being a good sport and volunteering their time to answer a few questions to help our community grow from their knowledge.
I want to introduce you to our guest today who will be taking our Pop Quiz Monday.
Can you please tell everyone your name?
What is your job role?
Mentor/Advise Early Stage Startups, Unaccredited Angel Investor
Tell us about your company?
I am an independent mentor/advisor and angel investor, as well as a mentor/advisor for FasterCapital.
What do you love most about your job?
Getting to talk to really smart people who big missions and visions
What motivates you to get up every day and go to work?
The belief that my advice, mentorship, or money will be able to bring someone closer to achieving their dreams or having a lasting positive impact on the world
What are some of the challenges of your job?
As someone who is relatively new to the mentor/advisor/investor side of the startup world, it is often hard to establish credibility until I am able to have a call or “skype” with a founder.
Another challenge is not being considered an accredited investor due to my personal income/value not meeting the requirements. I understand where the requirements come from, but they block people from deal flows, who are very knowledgeable in the investing space. Thankfully there has been some compromise with unaccredited investors now being able to participate in crowd equity fundraising.
What are some lessons learned from a past project that you can share with us?
Don’t be scared to pivot and don’t be scared to quit. Life is a balancing act of time management, and you need to know when to quit in order to start on your next big idea or adventure.
What advice would you give to someone who is starting in your industry?
Just do it. A lot of people get ideas, but almost none of them execute on it. The simple act of vetting your idea is a solid and important start to any startup endeavor.
Thank you for taking our pop quiz today. You get an A+ for effort. You can learn more about our interviewee and their business by visiting them on the web: