A Venture Capitalist’s Mindset Helps an Olympic Champion Succeed
Posted: 1:05 PM PDT · August 13, 2024
Image Credits: Flavio Coelho / Getty Images
Julie Bort
Winning a gold medal is no easy feat. It requires dedication, perseverance, and a winning mindset. But what if we told you that an Olympic champion’s approach to winning gold medals shares some striking similarities with the mindset of a venture capitalist?
Meet Kristen Faulkner, an Olympic champion who has won two gold medals in cycling. What’s remarkable about Faulkner is not just her athletic prowess but also her background as a venture capitalist. She was an associate investor at Threshold Ventures and Bessemer Venture Partners before leaving the VC world in 2021 to pursue her passion for cycling.
From Venture Capitalist to Olympic Champion
Faulkner’s journey from being a successful VC to winning gold medals is nothing short of inspiring. As she shared with Fortune, "As a VC, you sit down with entrepreneurs every single day who are going to do something they’re passionate about. They have these big ideas. They’re taking risks." This mindset helped her approach cycling in the same way.
Lessons Learned from Venture Capitalism
Faulkner’s experience as a VC taught her valuable lessons that she applied to her cycling career. One of the key takeaways was the importance of assessing risk and making informed decisions. "If a VC thinks there’s a 50% chance the company is going to be successful, that doesn’t mean they go 50% all-in for the company," Faulkner explained. "When you invest, assess the risk and make your decision, but then you go all-in. You don’t look back. You have to commit."
This approach, which is often referred to as a ‘venture capitalist’s mindset,’ helped Faulkner succeed in her cycling career. She applied this same mindset to each race, assessing her chances of winning and committing fully to her goals.
The Benefits of a VC Mindset
So, what are the benefits of adopting a venture capitalist’s mindset? Here are some key takeaways:
- Assessing risk: As Faulkner explained, VCs assess the risk involved in investing in a company. This same approach can be applied to any situation where there’s uncertainty.
- Making informed decisions: A VC’s decision to invest is based on thorough research and analysis. Similarly, making informed decisions requires gathering all relevant information before committing to a course of action.
- Committing fully: Once a VC has made an investment, they commit fully to the company’s success. This same approach can be applied to any goal or objective, where commitment and dedication are essential.
The Intersection of Venture Capitalism and Athletics
While it may seem like a stretch to compare venture capitalism with athletics, there are some interesting parallels between the two fields. Both require:
- Strategic thinking: VCs need to think strategically when assessing risk and making investment decisions. Similarly, athletes need to think strategically about their performance and how to improve.
- Adaptability: VCs need to be adaptable in responding to changes in the market or company performance. Athletes also need to adapt quickly in response to changing circumstances on the field or track.
- Resilience: VCs face rejection and failure when making investment decisions. Athletes also experience setbacks and failures, but it’s how they respond that matters.
Conclusion
Winning a gold medal is no easy feat, but as Kristen Faulkner’s story shows, there are valuable lessons to be learned from the world of venture capitalism. By adopting a VC mindset, individuals can develop the skills and strategies needed to succeed in any field.
Whether it’s cycling or venture capital, success requires a combination of strategic thinking, adaptability, and resilience. By applying these principles, individuals can achieve their goals and reach new heights.
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