"Wanted. Crew for hazardous journey, small wages, bitter cold, long months of complete darkness, constant danger, safe return doubtful, honor and recognition in case of success."
In 1907, Ernest Shackleton issued a challenge: journey with him, literally, to the ends of the earth. This would be a perilous trek where failure was possible, even likely. However, if the voyage was successful, your fame and glory would be assured.
This challenge is familiar territory for any entrepreneur. The risks inherent to starting a thriving business in today’s troubled waters are immense, but the rewards have never been greater.
At Kickstart, we recognize and accept risk; nevertheless, we look for several factors to help anticipate and mitigate these challenges.
Human Capital Matters: We invest in people, not technology.
Listening: We have yet to see an entrepreneur succeed without being able to listen.
Transparency: Integrity, openess, and honesty are essential.
Large Market: A large market provides a cushion and mitigates unforeseeable risks.
Nail It: Formulate and apply a customer-validated value proposition.
Technology: We are sector-agnostic. We are interested in strong technology backed intellectual property as long as it has a clear, capital-efficient path to market.
Avant-Garde Approach: Find your competitive advantage. Chart unfamiliar waters. Create unique solutions. Be a first-mover.
Frugality: The essence of strategy is choosing what not to do. Focus spending on the priorities and maximize profitability.
Momentum: Generally, if companies can't generate momentum without money, things don't change after they do. Maximize sweat equity into building traction.
Terms: In this environment, deal terms need to be a no-brainer.