October 31; Loving the people I spend most of my time with 👩🏻💻👨🏼💻
When the grind is 24/7, it matters a lot how you treat the people you do it with... this was my week
Happy Sunday,
This week was back-to-the-office with Vitosha in Sofia, and boy, do we have work. We closed another 8 investments in the past two months, and when the last paperwork settles in a week or two, I’ll be excited to share the stories of yet another fantastic group of people going after impressive challenges in innovative ways.
People; that’s in the end what it’s all about. Through the luck I’ve had, being among the first few who set out to build venture businesses and communities in various places, first and foremost Bulgaria, I’ve been privileged to get invited in places ranging from Peru to Tajikistan, and from Algeria to Alaska, to share ideas on how to go about launching their local venture ecosystems. What I always try to explain, is that we don’t really invest in businesses, as much as in people. And the newer they are to business, the less likely it is that they’ll generate a return in their first attempt. However, with each attempt, the likelihood of them returning an investment and becoming successful overall becomes exponentially higher.
It’s an untrivial thought. Venture investments are made into businesses, not individuals. It’s hard to justify an investment when the odds are overwhelming that the business won’t take off. One of the most successful and well-known venture investors in the US, Mark Suster from Los Angeles, famously quipped that venture capital is a get-rich-slow-industry.
But that’s the mainstream venture industry. In my version of it, in faraway places, for the first time, and against all kinds of odds and uncertainties, I’d say it’s a get-rich-very-slow-industry 😂
And that’s where the beauty of it lies; we’re in no hurry whatsoever. I don’t remember where I picked up the quote, but someone once said “I have nothing to rush to. My biggest enemies aren’t even born yet”, and that sentiment rings very true to me in my work, and can be a soothing refuge when stress levels rise.
One of my biggest learnings over the past years is about how to deal with the closest people to me, my coworkers. I’ve had my fair share of amazing managers early in my career, particularly Claude Probst when I was at EASA and my direct manager at Wolters Kluwer, Marja Kleinekoort. Both were inspiring and empathetic leaders, with a vision and with an eye for the well-being and personal development of (especially junior) staff.
Since then however, it’s been a long climb to get to the level of comfort, trust, and friendship with my team that I enjoy today. The difficult thing about startup teams is that when you’re young, you simply lack the experience to manage relationships and people. Arguably, there is probably no better way to learn it than to start doing it, but it takes time and the first years aren’t easy.
There are unchecked egos, there are things we’re all trying to prove to ourselves. One fundamental thing I’ve learned in the past years is that I don’t need anyone to agree with me, or to see things the way I see them. When people I’m close with see things differently, more often than not it is an asset. I don’t have to worry about things I don’t understand that are taken care of by someone who does care and understand. And fundamentally, if I believe someone is wrong, it’s not a big deal. It’s an opportunity for them to see my point of view, and equally often, for me to see theirs and perhaps learn something.
A few days ago I chatted on the phone with an entrepreneur friend of mine, who was telling me about his long and difficult relationships with business partners. And then he said something wonderful: “In the end, the only way to make it work is to simply like the people that you’re working with”.
That’s really a thought worth remembering. We don’t really get to choose that much in life, so all we have to focus on is to make the most out of everything we get. The places, the work, and most importantly, the people.
Having all that I have is a massive privilege in and of itself. And that privilege is just exponentially bigger because it’s not even difficult to like and love my amazing coworkers.
And so finally, the best part about this past week was that besides endless portfolio meetings, deal reviews, LP presentations and reports, we also had the pleasure to have my wonderful friend and Vitosha fund partner Erik Anderson with us in Sofia for the entire week. Erik decided to use this occasion to hold a session with our entire portfolio about practical tips to scale European startups in the US, and we had a terrific evening with our ever-growing family of founders.
Love what you do, and don’t forget to love the people you do it with. It’s a choice, and it’s the best choice we can make. ❤️
Thanks for checking in! 😇
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