At our firm, we like to incentivize our portfolio founders to put together a ton of research papers on all aspects of the business -- literally ask them to just go off the wall and write as much as they can about: product, vision, culture, market strategy, competitors, etc. etc. (think free hand writing in a journal on all aspects of your business)

Then, from there, we ask the founders to distribute the "papers" to the key members of their founding team. At that point, we ask the founding team to put together a traditional business plan, scouring through all of the unstructured content they were provided, and to structualize it... and then we ask them to send it directly to our firm.

We then ask the founders to run through the same exercise prior to seeing what their team has put together. As a firm, we then take the two and make comparisons, identify similarities, and most importantly, differences, and utilize both as the key focal points of our collaboration with the venture.

Answered 7 years ago

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