People.

The most important capital in any venture is people.

Ultimately they - you - will make it go or not go. And you will stay or you will go.

Do your people, inside and outside your venture (and including its sponsors) understand the mission? Do they have the tools, and the enthusiasm to carry it out?

Passion.

For the last four hundred years this term gets widely misunderstood. It is not something salacious and it does not mean being "happy/excited about" something.


The term passion comes from the Latin stem pati "to suffer" and/or Sanskrit pijati "to scorn" and/or the Greek pema "misery, woe" and/or the Gothic faian "blame."


Maybe because it seems unpleasant history would rather make it nicer.


But it is not unpleasant at all. It is heroic. It is the virtue of being able to stick with your venture through the pain; seeing the beauty which is on the other side which can only be met by traversing the valley of discomfort.


How is your own passion for your venture? Is it well-placed? Is it enduring? Can it be strengthened? Or is it reduced to a good time?

Process.

I know from experience, don't obsess over it. There are many many ways to swing a hammer but the only good way is the way in which you drive the nail.


Nevertheless, when we get mired in the details of our ventures we may lose sight of the bigger picture [The 50,000 Foot Level] -- how it all fits together.


Are our pieces working smoothly together? And remember pieces do not move; people do.

Poverty.

In poverty there is need. In need there is ingenuity.


Is the market "poor" for your good or service, or is it rich in your good or service? If poor, how do you best communicate with the people who have the need? How do you communicate the ingenuity? If rich, how can you modify the good or service (or the need) to open the space for ingenuity?


And what about yourself? Are you poor or have your allowed yourself to become "rich" in your thinking? How can you restore that 'poverty of thought' which you used to have; which made you so ingenious?

Cyrus Johnson

4Ps.

Four Ps. These are some of the thoughts on venture theory which animate my work, my philosophy, and what is done at recelerate.

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