Meet Ryan Ràfols!
Welcome back to our Ask an Innovator blog post series. This week we will be sharing advice on investing from the founder and CEO of Newchip, Ryan Ràfols! Newchip is an investment platform that allows people to invest in startups, pre-IPO companies, real estate, REITS, and Securitized Tokens alongside experienced investors, venture capitalists, angels and accelerators.
- When starting the investment process, what’s your first step?
“My advice on the first steps to consider is Google everything! Research the team, the market, competitors, and then make as best an educated guess as you can and only invest what you can afford to lose. Investing is like playing the lottery with the same odds except that you can mitigate some of the odds through knowledge and research, however you can never foresee the future of the markets or competitors either.”
- What advice would you give yourself if you were just beginning the investment process?
“Build a legal foundation first. The majority of companies don’t get off the ground or fail not because of a lack of funding, but because of founder issues. These issues typically stem from a lack of a proper foundation, ie: who owns how much, who is doing what, how much are we getting paid and when, and what happens when people disagree.”
- In your opinion, what’s the single most important resource for investing?
“Listen to people, but focus on data. Read the DocSend report on the best pitch decks and study only what has been successful. Everyone and their mother will tell you how to run your company, how to fundraise, and what to do, but only look at successes. Too many people try to do what their neighbor is doing. If you’re in a room full of entrepreneurs, most will fail, so find people who are already successful (recent successes only) and do what they do!”
We are thrilled to be sharing this advice with all of our readers; thank you so much Ryan! Stay in the loop for our next Ask an Innovator post!