National Innovation Day
6 months ago yesterday I chose to set out on my own journey and see what I could do differently.
Today is National Innovation Day (thank you The Content Architects).
6 months ago yesterday I chose to set out on my own journey and see what I could do differently.
To innovate you need to have the freedom to see clearly the space you are targeting. It's hard to do that when embedded in a system.
My starting insights were:
All markets get more competitive over time.
They tend to fewer large players and niche smaller players.
Venture has a lot of players and that will change in the same way.
Those that are left behind will get the deal flow others don't want.
If you're not a large player or a niche smaller player you better know how to get there or you won't exist in ten years.
How do I become one of the above?
This is the first in an occasional series of why unbundled vc and why I have made the decisions I made.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Evening update - 15 Feb 23
Today I…
#TodayI
Posted about not all businesses being venture businesses
Had Pilates with Maria Jose Freeman (Fernandez).
Spoke with Ric Porteus of ONE TRIBE.
Had a call with Daniel Levy of AccountsPro and Jhive.
Discussed Guernsey Cambridge Society plans with Mila Whitman
Caught up with Dami Hastrup of MOONHUB.
Gave some pitch deck feedback.
Made some intros.
Chatted with Farhan Lalji about his plans for LTV Capital.
Ran some more ChatGPT experiments.
#NowI
Have to submit my son's Year 9 subject choices.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Not all businesses are venture businesses
If you can bootstrap, maybe you should. You will be your own boss and can decide how fast you want to grow and how much risk you want to take.
Founders, not all businesses are venture businesses. This is fine.
If you can bootstrap, maybe you should. You will be your own boss and can decide how fast you want to grow and how much risk you want to take.
If you want venture money, you better have huge ambitions in a market that can match those and be prepared to spend a lot of time raising money from people like me.
The right choice will be different for every founder. You will each have different priorities.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Evening update - 14 Feb 23
Today I…
#TodayI
Asked for advice on operational complexity.
Had a site meeting for our house build by Infinity Construction and DLM Architects Ltd.
Had a coffee postponed.
Shared Tom Harding of nemo's video pitch.
Was pitched by Tim Whiston of isme|&|co.
Chatted with Matt Jonns and Daniel Christey of Founder and Lightning.
Spoke with Joe Adams of Tangent.
#NowI
Have to take the bins out and get back to some founders.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Public pitch - Tom Harding of Nemo Travel
Delighted to share, with permission, Tom Harding of nemo's video pitch.
#PublicPitch
Delighted to share, with permission, Tom Harding of nemo's video pitch.
nemo is a bespoke trip planning platform disrupting the travel planning space by building a unique multi-stop live one-click booking product.
Please let me know if you would like an intro or feel free to reach out directly.
Operational complexity
Founders, how do you think about operational complexity in your businesses? They necessarily get more complex as they grow. How do you manage that?
Founders, how do you think about operational complexity in your businesses? They necessarily get more complex as they grow. How do you manage that?
I think hard about operational complexity. To invest well and be able to get better all the time, I need to move fast and have an agile approach to my processes (not quite move fast and break things). Operational complexity can ruin that.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Evening update - 13 Feb 23
Today I…
#TodayI
Shared that I am a procrastinator and how I try and deal with it.
Had pilates with Maria Jose Freeman (Fernandez).
Was pitched by paul doran of Nuon AI.
Shared Saul Truman and Wojciech Woźnicki of quester's video pitch.
Had lunch and listened to Michael Buerk courtesy of Gordon Irish and Investec.
Was pitched by Callum Rimmer of Swallow.
Chatted with 🎥 Gabriel Isserlis of Tutti.
Missed some parents' evening video calls due to poor tech.
#LaterI
Hope to attend the remaining parents' evening calls.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Public pitch - quester
Delighted to share, with permission, Saul Truman and Wojciech Woźnicki of quester's video pitch.
#PublicPitch
Delighted to share, with permission, Saul Truman and Wojciech Woźnicki of quester's video pitch.
quester is a platform that enables content curation for Gen Z through community collaboration, aiming to unify all online content curation.
Please let me know if you would like an intro or feel free to reach out directly.
I am a procrastinator
If I have to do something hard, like writing founder feedback emails, or dull, like admin, I procrastinate. I find myself doing things that are lower priority or reading the news or anything.
I am a procrastinator.
If I have to do something hard, like writing founder feedback emails, or dull, like admin, I procrastinate. I find myself doing things that are lower priority or reading the news or anything.
If I notice, I take a break. I set a timer and give myself 5 minutes or 15 minutes and just sit and breathe. Then I'm ready to go again.
Rachael Crook of Lifted wrote recently about using the Pomodoro Technique to do something similar. Caitlin Rozario's whole business, interlude, is based on breaks being integral to productivity.
Do you take breaks? How do you maximise your productivity?
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Evening update - 10 Feb 23
Today I…
#TodayI
Posted about Ada Lovelace and the importance of female role models to men and women.
Took the kids to school.
Was pitched by James Townsend of Mobilise.
Was pitched by Olalekan Salami of OneID Global Technologies Inc.
Shared Ric Porteus of ONE TRIBE's video pitch.
Had a catch-up with Euan Cameron of Willo®.
Was pitched by Jamie Traynor of DriveBox.app.
Packed my bag.
Changed the linen.
Didn't clean the house 😬
#NowI
Am heading to Poole for a Valentine's dinner with my wife then a friend's 50th tomorrow.
Have a wonderful weekend everyone!
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Public pitch - Ric Porteus of One Tribe
Delighted to share, with permission, Ric Porteus of ONE TRIBE's video pitch.
#PublicPitch
Delighted to share, with permission, Ric Porteus of ONE TRIBE's video pitch.
ONE TRIBE is a tech platform to help businesses reduce their carbon footprint and grow more sustainably.
Please let me know if you would like an intro or feel free to reach out directly.
Ada Lovelace and International Day of Women and Girls in Science
Not enough women study and work in science. That leads to stereotypes leading to men not taking women seriously and women not believing the career paths are for them.
Tomorrow is International Day of Women and Girls in Science.
Why is this important? Not enough women study and work in science. That leads to stereotypes leading to men not taking women seriously and women not believing the career paths are for them.
That won’t change without role models.
When I took my boys to the Science Museum last year, I was able to buy this print of Ada Lovelace beside the Analytical Engine. She was a mathematician and is often known as the first computer programmer.
This will be going on the wall in my new office. Hopefully my boys see it and receive a positive stereotype.
Thank you Hena Husain of The Content Architects for the date reminder.
Evening update - 9 Feb 23
Today I…
#TodayI
Posted about how I grew unbundled vc's follower list.
Took the kids to school.
Was pitched by Tom Harding of nemo.
Shared James Townsend of Mobilise's video pitch.
Chatted with Agata Leliwa Nowicka of Female Foundry.
Spoke with Harry Hubble about how Pally plans to use AI.
Was pitched by Ric Porteus of ONE TRIBE.
Went shopping.
Collected the kids from school.
#LaterI
Will be improvising my joy back with Sarah Hansmann Rouxel.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Public pitch - James Townsend of Mobilise
Delighted to share, with permission, James Townsend of Mobilise's video pitch.
#PublicPitch
Delighted to share, with permission, James Townsend of Mobilise's video pitch.
Mobilise's mission is to build a digital platform that can support the world's carers with content, community and coaching.
Please let me know if you would like an intro or feel free to reach out directly.
1,000 LinkedIn Followers
unbundled vc was released to the world at the end of August last year. On New Year’s Day it hit 500 followers. Two nights ago, 37 days later, it hit 1,000. How did I achieve this despite being immaterial in the venture capital world?
unbundled vc was released to the world at the end of August last year. On New Year’s Day it hit 500 followers. Two nights ago, 37 days later, it hit 1,000.
How did I achieve this despite being immaterial in the venture capital world?
1. I made a commitment to post every day and stuck to it.
2. At the start I just posted. Now I have a format and stick to it.
3. I post in my authentic voice. People can tell if you are inauthentic. I hope that if people meet me I sound like the same person.
4. I post in my name then repost as unbundled vc. Personal posts get much more traction.
5. I try and learn from which posts get most traction. It’s not always obvious to an observer, impressions can vary wildly from likes and comments. LinkedIn can tell who is reading so impressions are important.
6. When you take a break you get less traction when you come back. LinkedIn wants you to post every day. I don’t post at weekends or when I’m not working. This hurts me but I made a decision that break days are just that.
7. I’ve not invited connections to follow unbundled vc other than one person by mistake. (Sorry Paul Tyler and thank you for following.)
8. I got lucky with LinkedIn’s algorithm. It must have started recommending unbundled to people. It will stop at some point and that will hurt.
9. I stuck to it. In any task, if you think what you are doing is right you have to stick to it. Don’t expect results quickly.
10. I don't have a 10. If I think of anything else I will put it in the comments.
tl;dr - keep grinding
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Evening update - 8 Feb 23
Today I…
#TodayI
Shared my learnings on network effects from my call with Sameer Singh.
Took the kids to school.
Attended a fund investor update.
Was pitched by Dayo Israel and Michelle A-J of Melanin Matchmaker (aka MM).
Had a call with a private bank.
Spoke with Ciaran Savage of Card Industry Professionals about how his business is going.
Shared that my podcast with Amanda (Mandy) Eulenkamp of Guernsey Press is live.
Was pitched by Charlie Winton of OK Positive.
Collected one child from school and another from football club.
Chatted with Jamie Beaumont of Playter.
Finally collected my ski bag from the airport.
Attended a school meeting.
#NowI
Have to start tidying the house.
Need to get back to some founders.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Podcast on with the Guernsey Press on investing
A pleasure to chat with Amanda (Mandy) Eulenkamp on this podcast about investing in digital tech.
A pleasure to chat with Amanda (Mandy) Eulenkamp on this podcast about investing in digital tech.
Thank you Guernsey Press , Digital Greenhouse Guernsey and Tony Curr for all your help!
https://guernseypress.com/podcasts/2023/02/07/business-podcast-tech-investor-marc-cohen
Network effects with Sameer Singh
Yesterday I had a fantastic call learning about network effects from Sameer Singh. Here's what I learnt:
Yesterday I had a fantastic call learning about network effects from Sameer Singh.
Here's what I learnt:
1. Is there a unique clearly defined interaction? If the interaction could be made without too much difficulty elsewhere you won't get network effects.
2. How can you tell if the unique interaction works? Network effects mean there is more value per user as the number of users grows. You need a KPI that captures this. It will often look high-ish at the start when friends and family use the product, will drop as you bring in other users then will rise again as you start generating network effects. If you can't define this metric or track it behaving in this manner, you don't have network effects.
3. Look for founders who understand the above. User or revenue growth doesn't matter if you don't have the network effect. First-time founders are often better at this for two reasons. Second-time founders are able to raise more money. They feel obliged to generate growth in conventional metrics because the money is there. They may also have a playbook from their previous startup and so not think out of the box which can be necessary to generate network effects.
Sameer Singh, thank you again. For those who are interested, he runs a course teaching network effects which you can find here - https://maven.com/breadcrumb/applied-network-effects.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Late update - 7 Feb 23
Yesterday I…
#YesterdayI
Posted to ask if founders would want to share charity video pitches.
Took the kids to school.
Had an incredibly useful call about network effects with Sameer Singh who I know through Alma Angels. Sameer, thank you again for your time.
Chatted with Gary Izunwa of Tangent.
Shared Taya Kudashkina of Penenza's video pitch.
Ploughed through my backlog.
Helped at a local school with Physics Olympiad prep.
Collected the kids from school.
Was pitched by Andy Aitken of Honest Mobile.
Took the bins out.
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Public pitch - Taya Kudashkina of Penenza
Delighted to share, with permission, Taya Kudashkina of Penenza's video pitch.
#PublicPitch
Delighted to share, with permission, Taya Kudashkina of Penenza's video pitch.
Penenza is a B2B BNPL solution for small offline businesses in India.
Please let me know if you would like an intro or feel free to reach out directly.