Everyone should read more. Not only does reading help you learn from the experience and views of others, but it also provides you a perspective to expand your own knowledge and experience.
If we think about it, almost every solution to any problem exists, we just need to find the right book.
As investors, we know what we do not know. And in our quest to find more knowledge and learn from the experiences of others, we read. A lot.
In today's post we will share two books that are close to our heart, and in a way gives people a window into Malpani Ventures.
This gem by Paul Jarvis is a fantastic primer on building sustainable businesses. The author stresses why staying small is the next big thing for businesses. This does not necessarily mean do not grow. This means do not grow without having your foundations secured, and do not grow for the sake of it.
The book is a wonderful short read that helps us understand why overheads can mean death for your business. In a world where capital is shoved down entrepreneur's throats forcing them to grow at any cost, we are witnessing linear growth in revenues with exponential growth in losses. The current COVID-19 pandemic has further excaberated cash burn at many startups.
We are angel investors. And unlike most venture capitalists, we prefer a steady and sustainable way of growing a business, while creating value for all stakeholders - promoters, employees, partners, clients, and finally investors.
Entrepeneurs and Promoters who resonate with this book are ideally the ones we like to fund. If you are one or know someone who is aligned to this thought process, please reach out to us!
John Doerr is an American investor and venture capitalist. OKRs (Objectives & Key Results) which this book is based on, has helped create massive value for Intel & Google. He introduces a revolutionary approach to goal-setting, evaluation, and management that can help small teams as well as big organizations align their goals towards a common cause.
Our organization-wide objective is to fund frugal startups. Hence, every organizational effort goes towards this common objective of helping entrepreneurs build frugal ventures. Our communication to entrepreneurs we fund is simple - have your goals, enlist how you will achieve them, work towards that, and share your progress on a periodic basis.
Without an OKR - how do you understand where do you want to go, how will you get there, and how will you know how far have you reached? Yes, the destination might change - startups pivot many times. Yes, the path taken might change - there are multiple paths to Nirvana. And consequently, the awareness of how far from or near to the destination you are, will also change.
What does not change - is the effort we as investors, and you as founders take in order to keep telling everyone on the plane- where are we headed, and how will we know when we get there. As entrepreneurs in a growing startup, it is very easy to lose track of focus, priorities, alignment with stakeholders, and accountability. It all moves very fast.
This book helps the reader understand goal-setting, productivity, accountability and tracking progress.
We love to invest in sustainable businesses that are run by passionate founders who hold themselves accountable to their objectives! And by writing this blog, we are sending a reverse pitch to founders inviting them to work with us.