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👋🏾 Hi friends!

Here we are mid way through July and the rain is coming down in buckets. In the last week someone tried to assassinate Donald Trump, England lost to Spain in the finals of the Euros and the weather seems to be reflecting the general mood.

And beyond that, I’ve been reflecting on the important stuff in life especially after the news that one of my oldest friends mother, who I had spent huge amounts of time with as a child, had suddenly passed away.

One of the things that I was really conscious of was the wealth of experience that those in that generation have and how so few of us take the time to capture it for posterity - and more importantly - for legacy. So this month I sat down in the studio and recorded my dad’s story over two mega 1.5 hour long sessions.

I would recommend to anyone who’s parents are ‘getting to that age’ to sit down with them, even if it’s with a cuppa and recording the conversation on your phone to do this so as to better understand the life that they have led so you can ensure that your children, and in turn their children, can learn where they came from.

In other news, a good friend of mine - Dr Andrea Isoni - is going to be running an AI Masterclass to help you enhance your business, designed for decision-makers. The course will help you gain a comprehensive understanding of Generative AI, its ROI, and practical applications as well as helping you learn to manage AI vendors, ensure AI safety, and govern implementations effectively. The course includes hands-on experience, expert insights, and a bonus AI use case review. Join Andrea on July 27-28, 2024, to stay ahead in the AI-driven market.

You can register here using the code NOTHINGVENTURED24 to get a massive 50% off.

As you know, I’m well underway writing about all the things I’ve learned from the last couple of decades as founder, CFO and CEO, so sign up for early access to Off Balance - The Book and feel free to share with anyone else you think might enjoy it 😄. I’m setting myself the target of getting through a large portion of it whilst I’m away in Italy during August - wish me luck!

Now let’s get down to business…

𝗗𝗼𝗲𝘀 𝗘𝘂𝗿𝗼𝗽𝗲 𝗻𝗲𝗲𝗱𝘀 𝗺𝗼𝗿𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝘄𝗶𝘁𝗵 𝗳𝗼𝘂𝗻𝗱𝗲𝗿 𝗯𝗮𝗰𝗸𝗴𝗿𝗼𝘂𝗻𝗱𝘀?

In this week's Nothing Ventured, I sat down for a wide ranging conversation with TWICE exited founder turned VC, Jan Reichelt.

An entrepreneur at heart, Jan has spent his career in technology start-ups, online businesses, professional information services and digital media.

Jan is now a founding and general partner of 10x Founders, a network-driven investor backed by over 200 entrepreneurs and angels.

Previously, he founded the scientific collaboration platform Mendeley (acquired by RELX / Elsevier PLC) and Kopernio, a 'Spotify for research papers' (acquired by Clarivate).

At Clarivate, Jan was Managing Director for Web of Science, responsible for revenues of over $250m.

In 2013, he was named "European Founder of the Year 2013" by TechCrunch / The Europas.

Top Takeaways:

𝗚𝗹𝗼𝗯𝗮𝗹 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗘𝗱𝗧𝗲𝗰𝗵: Jan highlighted the immediate global reach of the education and edtech industry, especially in higher education and academic research. The industry's common standard and global nature present vast opportunities for innovation and growth.

𝗙𝗼𝘂𝗻𝗱𝗲𝗿 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗦𝘂𝗰𝗰𝗲𝘀𝘀: Jan shared valuable insights on the success of founder investors in the VC space. Data suggests that founder VCs with successful exits tend to have a higher investment success rate, emphasising the importance of founder backgrounds in making impactful investment decisions.

𝗕𝗮𝗹𝗮𝗻𝗰𝗶𝗻𝗴 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀𝗵𝗶𝗽 𝗮𝘀 𝗮 𝗟𝗶𝗳𝗲𝘀𝘁𝘆𝗹𝗲: Jan spoke about the significance of treating entrepreneurship as a lifestyle rather than just a job. He highlighted the importance of designing a balanced life around the entrepreneurial journey, acknowledging the emotional toll and rewards that come with it.

We also covered:

💥 If you can create value and people are prepared to pay, there will always be an exit route.
⛔️ Sometimes listening to too much external advice as a founder can be counterproductive - be confident in yourself as a founder.
🪟 How windows of opportunity led to Jan selling his second business.
👼🏽 Why you can’t scale investing as an angel.
⚖️ How entrepreneurship wasn’t a job, it was his life; so he designed his life to ensure he had the balance.
💡 Jan’s contrarian advice: You shouldn't only talk to the partners at a VC fund.

Check it out on YouTube!

Else listen on Spotify or Apple

If you have any feedback, or if there’s something you’re desperate to see me include, just reply to this mail or ping me online - I’m very open to conversations.

If you like what I’m putting out, do give me a follow on LinkedIn, Twitter and Instagram.

(If you are trying to connect with me on LinkedIn, maybe read this post I wrote and make sure to start your request with “Off Balance” and, more importantly, tell me why you’d like to connect 💪🏾)

Don’t forget to like, rate and subscribe to Nothing Ventured on Apple, Spotify or YouTube, it really helps more people see what we’re doing - you can find links to these (and more including my Office Hours) right here!

As always, my office hours are open, if you’d like to chat about anything finance, tech or venture releated, just grab some time 😊.

I hope you found Off Balance #44 valuable. As always, I’d love to get your feedback and understand the sort of topics you would love to hear about.

Just hit reply to this mail or drop me a line at [email protected] and let me know 😊

🚀And that’s a wrap for this edition of Off Balance - I’d appreciate your feedback so just reply to this email if you’ve got something you’d like to say.

📨 If you think someone else might love this, please forward it on to them,

🎧 Finally, if you’re a fan of the Nothing Ventured podcast, please don’t forget to like, rate and subscribe wherever you get your pods - it really helps us spread the word.

That’s it from me so until next time…

Stay liquid :)

Aarish

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