Insist on undervaluation as compared to the company's future prospects. The stage in which to invest is not by personal choice, but by whether undervaluation presents itself in certain stage as compared to future expectations thereof.
Diversify to many growth stocks using the principle above. Buying many stocks of the same industry or trend is not diversifying.
Expect only a few of them to stand out in the long run, but most to fail or stay mediocre.
In short, it is to invest like VC.