Curated Ventures

"Forecasting for early startups is basically a waste of time." We've heard versions of this statement many times from other investors and founders...but is it true? The point of forecasting is to 1) understand and 2) plan for the key variables the business will likely encounter. In a startup, those variables are innumerable, hard to prioritize, and impossible to accurately schedule on a forecast. So many understandably conclude: early-stage forecasting is a waste of time. But it doesn't need to be a waste: For early stage companies, forecasting can be highly effective when it focuses on the *events* that change the business, and ties those events to 1) sales 2) gross margin and 3) cash. In other words, forecast the key *events* that will impact your business. Identify the key hires, product launches, customers, and partnerships that will have anticipated impacts on your business. And of course, you can still note the anticipated *timelines* you think those will happen in...but time itself doesn't drive results--effective *activity* does. So highlight those specific drivers instead. If you're an early company, don't rule out forecasting--just make it efficient, informative, and worthwhile. Leave the hyper-detailed, time-specific, and immaterial accounts alone. For now. (And if you *are* building out full forecasts, here's a previous article from Nate McBride, Curated's Managing Partner, on how to get them right) https://lnkd.in/dCpaBhqm

SAAS vs the World was a blast—and The World came out on top. So the trophy will reside with &Collar until next year. Big thanks to &Collar, Max Connect Digital (especially Ben Perkins and Phil Case) for their creative support for the inaugural year. More games to come at next year’s #UtahTechWeek.

Big thanks to Founders N' Funders for creating this great event (and to Jeff Erickson for his consistent support of Utah startups). Our Managing Partner Nate McBride will be there with other awesome co-panelists (John Richards, Rachelle Morris, and Amy Caldwell). We'll see you next Thursday!

One week until Utah Tech Week begins! We'll be playing soccer (SAAS vs the World) on Jan 23, then opening the Curated office for founders, investors, and their supporters to work (all day) on Jan 24: Jan 23 - SAAS vs. The World (Indoor Soccer) with Max Connect Digital and &Collar. Sign up here: https://lu.ma/3nxudhs6 Jan 24 - Work with Curated (Downtown SLC) with CBIZ. Sign up here: https://lu.ma/asnbt6vs

On Jan 24, Curated's downtown SLC office is open for you to work, brainstorm, or host your own meetings, sponsored by CBIZ! Details & registration here: https://lu.ma/asnbt6vs

On Jan 23, Curated is hosting SAAS vs the World (Indoor Soccer), co-sponsored with &Collar and Max Connect Digital! Details & registration here: https://lu.ma/3nxudhs6

Happy New Year! As we kickoff our 2024 aspirations, here's a reminder that the source of any failure can be found within four categories: Perception Motivation Coaching Coordination Perception = a baseball hits you in the face while you're distracted Motivation = you don't even try and catch the pop-fly coming to you Coaching = you try and field a grounder but the ball goes through your legs Coordination = you missed the game because of a traffic jam The trick is to notice which are the most prevalent failure-types (for us and our teams) and bolstering those categories: Perceive - Work in an industry where market changes come fast? It could be existentially important to build systems that immediately detect customer-, market- or regulatory-changes. You may be a hyper-motivated genius, but if you don't even see a problem surfacing, you can't address it. Motivate - Building an uninspiring product, like tires? Remind yourself and your team of: 1) the financial impact that the company's success can (and should) have on the families who depend on its success, 2) the dreams that your products facilitates for customers (e.g. cool stories/numbers of family trips in the car), or 3) the critical need that some customers have for your product (e.g. inspiring emergency-responder stories, etc.). And a simple reminder of the confidence you have in your team doesn't hurt, either. Coach - Unimpressed with someone's performance? First ensure they know what they need to know--because often, they already want to succeed. They may just need more mentorship, insights, and clarity than motivation. Once you *know* they can do what's needed, then you can look to other sources of potential failure. Coordinate - Even if you're doing the right things, creating lasting success always requires others' involvement. Coordination is a skill, and can surface challenges, misunderstandings, and opportunities in ways that no individual can on their own. With high-performing individuals, this is often the first place to look and improve. Help them coordinate more frequently/successfully with others (e.g. stakeholder updates, team requests, voicing concerns, etc.). Here's to a challenging, fulfilling, and successful 2024!

Best leaders: resource and train your team, clarify priorities, hold high standards, and cultivate a culture of excellence. Maintain a mentality of ownership. Good leaders: dive into the weeds with your team and its work, but own the outcome alongside them. Bad leaders: stay uninvolved, then Monday-morning-quarterback your team's performance after completion/failure. Worst leaders: micromanage your preferred pieces of the project, but blame others for any bad outcomes.

Clarity > Complexity Trust > Convenience Connections > Parties Courage > Cowardice Feedback > Failure Becoming > Associating

Curated Ventures is live! We’re an early-stage venture firm headquartered in Salt Lake City, UT. We love the dichotomy that entrepreneurship entails: a deep conviction that we can change something big, but a willingness to walk a path of feedback and learning while we do so. And on the journey to mastery, a little humility is the cost of entry. So here’s to becoming masterful together–to having the confidence to go alone, but the wisdom to bring others with us. If you have a compelling model, a curious and capable founding team, and pragmatic plans to takeover the world, we’d love to learn more about what you’re doing! Want to learn more about us? Just check out cur.vc .