Crossing the Chasm
This is a four-part series on San Diego’s Total Package Deals (and why we’re seeing fewer of them these days). It starts here.
I continue to be optimistic about deals in San Diego. I know we have the talent and the teams. We have the big ideas and the big rewards. If Startup Week is any indicator, the appetite for innovation here is as big as ever. During Startup week there were a lot of companies and entrepreneurs on display who fit the bill. We want to surface more people like that. Here’s what we’re looking for:
Passion for Problem
We love meeting with teams that are passionate and committed to their product. Attitude is everything and teams with not only a goal but the mindset that they will work ‘harder, faster, and more efficiently’ have the right skills to turn a vision into a reality.
SME’s to the nth Degree
Companies need to understand the landscape of the market that they are engaging in. This is done partly by expertise or previous experience, but more importantly by consistent and thorough market research. Teams need to understand the industry, the problem, the competition they are entering.
Product, Product, Product
We believe that the culmination of the product and the team is king in this industry. There is no telling (and no stopping) what a disruptive product with a driven, informed team can achieve. Together there is a pure competitive advantage.
Happy Accidents
Sometimes an entrepreneur has gotten the product off the ground with impressive numbers to show — not vanity metrics — but does not know how to build an operating company. This is usually a technical person who, say, built and app, it blew up and now they have to figure out how to make a business around it. The right investors can and will help.
Eyes Wide Open
A great component of leaders of young businesses is their ability to be relentless in self-improvement. Make no mistake, these leaders don’t lack self-confidence. On the contrary, these leaders understand their competition, and know they can succeed. They understand where they can fail — not only from a business perspective, but also on a personal level — and they are driven anyways. We are looking for leaders who have their eyes wide open; they are constantly challenging themselves, their team, and their professional landscape to find ways they can improve, on all fronts.
This is a four-part series about total package deals. For the intro, start here.
Part 1: What is a Total Package Deal?
Part 2: The Gulf of San Diego
Part 3: Crossing the Chasm (you are here)
Part 4: Great Companies vs. Good Deals
