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"Sometimes it is better to be lucky than to be smart" goes the age old saying.&nbsp; My investment in <a data-mce-href="https://www.madesnappy.co.uk/" href="https://www.madesnappy.co.uk/">Made Snappy 360</a> is turning out to be both.&nbsp;&nbsp;In just over three years, the management team have turned around a loss making, non essential business into a profitable, cash-flow positive, high growth company that is seen as both essential and delightful by its loyal base of customers: UK estate agents.&nbsp; It's also beginning to make sales in the US and other international markets.&nbsp;&nbsp;80% of angel investments fail to return any capital what so ever*.&nbsp; So why did this business work out so well when thousands of others fail to make the grade?Of course, we hit a home run with the product.&nbsp; The ability to create a 98%+ accurate floorplan from still 360 images without the need to measure or use floorplan software, saving estate agents around an hour per listing.However, like many early-stage investments, the end proposition was far from clear when agreeing to put my time and money into the project.&nbsp; The success of an early-stage business starts and ends with the founder, or founders as ideally you want two with complimentary skill sets if you can find them!&nbsp; In this case however, there was only one, <a data-mce-href="https://www.linkedin.com/in/bestceo/" href="https://www.linkedin.com/in/bestceo/">Mark McCorrie</a>.Cold called by a future tech CEOMark cold called me in 2020 to sell me a different product in a tiny niche. &nbsp;I ghosted him for a week but his persistence, coupled with his request that I sign an NDA intrigued me. &nbsp;His product was brilliant and gave my <a data-mce-href="https://bristolpropertypartnership.co.uk/" href="https://bristolpropertypartnership.co.uk/">letting agency</a> an edge in a crowded market, so I invited him down to Bristol to speak at an event we were running. I spent a few hours with him talking about all his ideas and then the next three months trying to persuade him to take my money (and some guidance on shaping his ideas for the estate agency market). &nbsp;There was a strong element of luck in my decision to invest but I was convinced of Mark's potential.&nbsp; With the benefit of hindsight, it's easy to identify 11 characteristics possessed by Mark that helped ensure a return on my investment.1.&nbsp; &nbsp;Burning Desire&nbsp; &nbsp;In his seminal book on wealth creation “<a data-mce-href="https://www.amazon.co.uk/Think-Grow-Rich-Napoleon-Hill/dp/0091900212/ref=sr_1_1?crid=37VGYRK9NQS8Y&amp;dib=eyJ2IjoiMSJ9.K0F76xViRODhyb3ayWsKk6BZ7h-MlCDvh7cyv8fiAQNLQlVyn2nH1W3vfOTYeqOU0w2Mqzc0fz41Aksze073qx76-Y-5FNh_Ag33Vki-Su5OXTgxnMtlAYNim4NKAq6XxTXaq1-WK0h27is6Tf1qmeof2jtMwGCwMj_TahUgRzx-TdGCUjcBWrEHSBMMhw6BVIYKyf8HSblUhMNO13Jr5E4cuXX5GShUIll-NNL1960.g1rNaECny7Z7YIyje2k6gaSIqtItt9zmqPLMBuOxGL8&amp;dib_tag=se&amp;keywords=think+and+grow+rich&amp;qid=1721147386&amp;sprefix=think+and+grow+rich%2Caps%2C101&amp;sr=8-1" href="https://www.amazon.co.uk/Think-Grow-Rich-Napoleon-Hill/dp/0091900212/ref=sr_1_1?crid=37VGYRK9NQS8Y&amp;dib=eyJ2IjoiMSJ9.K0F76xViRODhyb3ayWsKk6BZ7h-MlCDvh7cyv8fiAQNLQlVyn2nH1W3vfOTYeqOU0w2Mqzc0fz41Aksze073qx76-Y-5FNh_Ag33Vki-Su5OXTgxnMtlAYNim4NKAq6XxTXaq1-WK0h27is6Tf1qmeof2jtMwGCwMj_TahUgRzx-TdGCUjcBWrEHSBMMhw6BVIYKyf8HSblUhMNO13Jr5E4cuXX5GShUIll-NNL1960.g1rNaECny7Z7YIyje2k6gaSIqtItt9zmqPLMBuOxGL8&amp;dib_tag=se&amp;keywords=think+and+grow+rich&amp;qid=1721147386&amp;sprefix=think+and+grow+rich%2Caps%2C101&amp;sr=8-1">Think and Grow Rich</a>”, Napolean Hill describes the most important component of success as having a “burning desire”. &nbsp;Mark is a techie, not a salesperson but he cold called me four times before I took his call! &nbsp; He has a steely determination to succeed, get stuff done and never give up, despite the inevitable setbacks.2.&nbsp; &nbsp;Work Ethic. &nbsp; Building great companies requires total dedication to the cause. &nbsp;Early on Mark often put in crazy 12-hour shifts, many times working 7 days a week. The balance is better now but if you read the biographies of Steve Jobs and Elon Musk, you would never accuse them of getting their work/life balance spot on! &nbsp;3.&nbsp; &nbsp;Intelligence. &nbsp;Mark came top in maths at A-level in the UK. &nbsp;Being clever on its own is never enough for success, but it certainly helps.4.&nbsp; &nbsp;Curiosity. &nbsp;I’ve seen many intelligent people repeated fail because they are too attached to their own ideas, beliefs and ways of thinking. &nbsp;Mark is always willing to listen to multiple points of view and actively seeks advice and opinion from different sources before making a final decision. &nbsp;This was key in designing a product truly fit for the estate agency market.5.&nbsp; &nbsp;Evidence driven. &nbsp;Differences of opinion are inevitable when pivoting and scaling a business, but Mark’s ethos of “let the data decide” helped us get some of the big commercial calls right while managing potential conflicts and the downside risk.6.&nbsp; &nbsp;Creative problem solver. &nbsp; Mark’s ability to creatively solve technical problems is arguably the single biggest reason for our success. &nbsp; Although admittedly we spent quite a bit of time solving problems that were smaller pain points than we originally thought!&nbsp; The phrase "game changer" was used many times before we actually managed to change it. 😀7.&nbsp; &nbsp;Productivity. &nbsp;Mark always claimed he could do the work of three developers. &nbsp;I’ve no idea whether this is true, but it sounded good and it certainly reduced the investment risk profile.8.&nbsp; &nbsp;Willingness to sacrifice.&nbsp; Mark had put a significant amount of "sweat equity" into the company before my arrival and was working for a fraction of the salary he could command in the open market.9.&nbsp; &nbsp;Persuasion skills.&nbsp; The best founders always have an unerring ability to persuade. Although it's&nbsp; not quite what Steve Jobs biographer Walter Isaacson's described as a “reality distortion field”, it’s not far off. &nbsp; I’m sure it’s one of the many reasons we’ve attracted industry veteran Simon Whale to join our board.10.&nbsp; &nbsp;Parsimony.&nbsp; &nbsp;Being careful with money is a great characteristic for any early stage founder (although it's sometimes not the case when you have a truck load of VC cash and a positive mental attitude).&nbsp; On my first visit to the office, it was reassuringly basic and I was taken out for a kebab as a "special treat". 🍢11.&nbsp; Leading from the back. &nbsp;Although the key numbers and “scorecard” now hold people to account, Mark has always been willing to attract great people and let them shine in their roles.&nbsp;&nbsp;There is always a degree of luck when investing in unproven start-ups but there is tremendous amount of reward not just financially but also in knowing you’ve contributed to a building a company of the future. &nbsp;As an angel investor, I strongly believe the adage “start with the founder” should be your default position. &nbsp; Products and markets always evolve and you’re almost never investing in the “end proposition”. &nbsp;It’s the vision, determination and skills of the founder that make the difference, together with a helping of timing and good fortune.* "Angel - How to Invest in Technology Start Ups” by Jason Calacanis.&nbsp;&nbsp;

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