FUNDAMENTALS
If you’ve ever trained in any sport as a kid, you know how important are the fundamentals. For me, it was basketball from the age of 8. I then spent a couple years in gymnastics before returning to basketball for six more years of 6-7 practices a week.
Now in my 40s, I play street basketball in New York City. Watching other players, it’s easy to spot who trained as a kid and who taught themselves.
How can you tell? It’s all in the fundamentals. The way they dribble—whether they look at the ball or keep their head up for situational awareness, defending the ball and passing it, how they shoot—arm mechanics, how they play defense— bent knees vs. bent back, how they do their pick-and-rolls, how they perform layups. The fundamentals are always evident.
I play basketball to stay active but I’ve found it 'Zen and the Art of Motorcycle Maintenance' satisfying to know that my fundamentals are still there, even when I'm out of shape and rusty.
The same principles apply to building a company. Fundamentals are what people notice when they interact with you, even if they can't articulate it.
- Being open and coachable are traits that experienced professionals look for when you invite them to join your team. You either show them who you are, or you pretend to be strong and all-knowing.
- This openness could determine whether you secure an investment, as some investors look to be active and seek founders who are receptive. Understanding investors’ logic is crucial. They can tell if you get them or not.
- Cultural differences also play a significant role. If you’re looking to enter a new market you need to understand not just the language but also the culture. Knowing English isn’t the same as knowing “American English”.
- Another example: Being your word about time. Are you someone who joins Zooms a minute early, exactly on time, or a few minutes late? Do you blame circumstances and offer a half-hearted apology, or do you take responsibility for not being your word? These are fundamentals people notice, and while they might brush it like it's nothing, it's not nothing, and they will discuss it behind your back, and now you have a conversation about you running in the background.
- Lastly, when you’re fundraising, a few investors will start the due diligence process when considering investing. What is due diligence if not an examination of your company’s fundamentals.
Periodic Ventures comes in to support you in getting the fundamentals right and have the due diligence be bulletproof. We work with post seed companies on other aspects of their business as well, including their market expansion, partnerships and building the structures needed for their business to succeed. If you’re a startup founder who has raised some money and finds yourself facing those kinds of situations or dilemmas, reach out!
