Today on the podcast we’re bringing you our first Foundational Knowledge episode. These episodes are designed to give founders and entrepreneurs practical knowledge and actionable steps to scale both their business and impact. In this episode JT is joined by his Exponential Ventures co-founder, James Wallace (JW). JW is a serial entrepreneur who has created over a dozen successful startups, a 3rd generation marketer, and an exponential technology specialist who started his first tech company in the early 90’s.
In this episode JT and JW talk about the 3Ps: Passion, Purpose, Proficiency. Specifically, what they are, why they matter, and why they won’t invest in founders who don’t have them–– regardless of how lucrative the project is. They also explain how traditional accelerators are broken and neglect 95% of companies they accept but don’t feel have “unicorn DNA”. Finally, they look at how to get a founder to uncover and connect with the deeper “why” behind their business and how powerfully that serves them in the long run.
Interesting Points Covered:
- How to get to the “why” behind your business
- The 3Ps every founder needs and every conscious investor wants to see
- The story of Thrive Market–– A case study for the 3Ps in action
- Why founders forget to have fun with their financials and what it really costs them
- Unicorn DNA and why it’s broken most accelerators
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JT + JW’s Links: