What’s your opportunity lens?
It’s so easy to get distracted by opportunity. Every day I meet interesting people doing cool things and I want to help them. I want to work with them. But should I?
In the same way that VC’s have an investment thesis, we all need a framework to evaluate opportunities.
To quickly filter opportunities, I’ve learned its important to have a checklist as a lens through which to evaluate the opportunity. If it checks most of the boxes, then perhaps I should pursue it, if it doesn’t then I might be wasting my time (and yours). My lens is a work in progress, but I’m working to codify it so I can quickly evaluate things. I’m publishing it here so if your meeting with me, you’ll know what I’m thinking.
Is it tech, scalable, and innovative? If not, I probably can’t be helpful, and its not really up my alley.
Does it leverage my business assets (Launch Pad & Flatstack)? Both of these businesses are about talent, education and building software. If we can leverage those, I can be more helpful.
Will it benefit my network? I’ve worked hard to build a network of investors, mentors, talent — all of whom I channel interesting deals to. If it helps my network, that’s cool.
Can I work on it, not in it? I love architecting businesses, and putting deals together. But I can’t work in all those projects and companies. I need to be able to create leverage by putting others in place.
Is there talent involved? I hear a lot of ideas, unless you are a team or are ready to hire a team to move it forward, then I can’t help. Need to find co-founders? Read my blog and the web or come join Launch Pad and meet folks.
Are you talking or doing? If you just want to jaw about something, let’s do it over a beer and not make it a priority. Know that I judge opportunities and how serious people are by how much they’ve moved things forward in between check-ins. If you’re still in the same place, we’re both wasting our time.
Is it going to be fun? I like working with people I enjoy being around and having fun doing it. (see beer test lens.)
What’s the higher purpose? It could be a social purpose, it could be solving a really interesting problem. I’ve got plenty to do, so I’m only interested if there is a mission I believe in.
If you’re meeting with me and want to know what I’m thinking, those are my lenses.
I’d love your feedback. Do you have a lens through which you evaluate opportunities? Sharing is caring!