In my world, when I think about investing, I think about Win Tippett. Win is an old family friend who has been investing in business and products since I can remember. I called Win up to ask him a few questions.
1 What do you look for when investing in a product/business?
I tend to look for the same things that ordinary investors look for. One thing that I look for that is not what you would consider normal is confidence. Over the years, I have learned that one thing you must have to make something successful is confidence in what you are doing. It would be best if you believed in what you were doing. I have often seen a person is not confident in what they are doing, and it affects the entire process.
2 What advice do you have for people wanting to invest in products/businesses?
Know what you are investing in. Do the research. There is never a guarantee that something will work out, but you will judge that’s better if you have researched what you are investing in.
I enjoyed getting to talk to Win. We had a short conversation, but I always take what he says to heart. He stressed to me over and over that research is critical. You can not always believe the facts that you are given. Find the answers yourself and know what you are getting yourself into.