When you think of thriving startup ecosystems, Silicon Valley traditionally steals the spotlight, closely followed by the hustle and bustle of New York City. However, let’s not overlook the incredible energy emanating from other world-class ecosystems like Boston, London, Austin, Waterloo, and Toronto.
As a 5x repeat entrepreneur with four exits, I am now a Co-Founder and CEO at Mantle. I recently had the privilege of participating in a lively “Ask Me Anything” session with Alex Norman, Partner at N49P Ventures and co-founder of TechTO, during their exclusive TechTO Insiders gathering in Toronto. The discussion delved into the evolving landscape of venture capital, particularly the shifting emphasis on profitability in today’s climate.
In the spirit of shared learning, I’d like to highlight a few key takeaways from our conversation:
- Focus on Sustainable Growth: VCs are increasingly valuing not just growth but the quality of that growth, the sustainability of unit economics, and the potential for achieving cash flow positivity and profitability. Striking a balance between scale and sustainable competitive advantage has become the new mantra.
- Adaptability is Key: In the ever-changing landscape of business, adaptability is crucial. Stay attuned to customer demand, focus on their needs, and leverage technology to address their evolving problems effectively. The key to success lies in maintaining an ongoing dialogue with customers.
- Crafting Standout Outreach: When reaching out to investors, founders need to stand out in a crowded inbox of referrals. It’s not just about making initial contact but demonstrating focus, clarity, and a unique insight into why your product is relevant in the current market. Doing your homework on the investor’s preferences and showcasing your goals and purpose is critical.
Fast forward two weeks, and I found myself at the Rotman School of Management, surrounded by a powerhouse of founders at the TechTO Together roundtable discussion. Joining luminaries such as Matthew Tsang (Seedwell), Mahshid Yassaei (Tali AI), David Van Bruwaene (Fairly AI), Manmeet Maggu (Trexo Robotics), Eunice Wu (Asepha), Alex Norman (TechTO), and Jason Goldlist (TechTO), the exchange of ideas was both enlightening and inspiring.
This assembly of founders reminded me that in the dynamic landscape of entrepreneurship, the significance of founders supporting each other cannot be overstated. We, as founders, are united by a common purpose – to innovate, create, and make the world a better place through our ventures. We must foster a culture of collaboration and knowledge-sharing, recognizing that the journey is fraught with challenges and uncertainties. By supporting one another, we not only fortify our individual endeavors but contribute to the collective strength of the startup community. The insights and lessons learned by each founder become valuable building blocks for others navigating similar paths.
In conclusion, our journey in the tech landscape is a collective endeavor. In this spirit of camaraderie, let’s continue to share our challenges, celebrate our successes, and build upon our community that propels us all toward a brighter and more impactful future.
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