Shape of good investments

• Some existing revenue/gross profit scale
• Decent objectively calculated TAM that passes the pub test
• Global focused business
• Decent Barriers to entry, which could be IP, regulatory, time, cost, credibility
• Repeatable and understandable business model (if it takes you more than a few minutes to understand business model...forget)
• Business strategy that steadily evolves and deepens over time around product/service capability
• Acquisitions by PE and Strategic's (corporates) in the sector/industry/space which validate attractiveness
• Has levers in its control to negotiate tougher economic times (in control vs market controlled). 
• High GP margins driven by recurring revenues or consumables
• High quality Board have been attracted to the company.
• CEO, COO Management team have 10 plus year careers in sector/industry/space
• Stability in senior leadership and Board tenure
• Personal investment/performance shares significant to executives individual personal wealth 
• Director buying