Serving Others

 

I came back to work (in the dark) after a spoiling sunny holiday in the southern hemisphere with an acute case of post-holiday blues.   They feel stronger than ever now I have 4 kids because holidays are such a breath (literally & metaphorically) of fresh air from the urban school routine which is frantic in the hours I’m involved morning and evening.  
 
I was talking with my wife about how I felt during a countryside walk with our newborn in sling.  I had a revelation when she talked about the role of service (i.e. serving others) in her life .  I suddenly thought about my work investing in startups in terms of service, specifically in terms of serving entrepreneurs.  My post-holiday blues disappeared in that instant.  It always amazes me that a simple change in mindset can so quickly have a material impact on how I feel.  
 
Obviously this insight isn’t rocket science as of course a lot of our work has to do with serving entrepreneurs, but there is subtlety in exactly what that means and how one prioritises it.  
 
As a Director of numerous companies I have a legal duty to do what’s best for the company (i.e. the shareholders).  As a General Partner of Episode 1 Ventures I have a duty to steward our investors money responsibly and generate as high a return as possible for them.  As venture capitalist I have a desire to help entrepreneurs thrive and succeed.
 
A few days before the walk with my wife I listened to a Reeboot.io podcast interview with Brad Feld and Fred Wilson discussing their experiences as VCs and Board Members and it resonated with me especially around this point of serving entrepreneurs.  It’s well worth a listen.
 
When we wear the multiple hats as an investor described above we get to choose, within the limits of the law of course, which to prioritise.
 
My goal is to consciously (as opposed to subconsciously as previously) prioritise our entrepreneurs when I can make the choice.  This is principally for two reasons.  Firstly I am confident it will help me enjoy my work even more than I already do – I’ll be serving a great group of people.  And secondly I believe it will lead to better results over the longer term for Episode 1.  
 
To expand on what this means in practical terms: there are moments when we, as institutional investors with preferred shares in companies and a seat on the Board, can flex our muscles and exercise rights that will benefit our investors to the detriment of the entrepreneur.  I do not want to exercise these rights unless I absolutely feel I have to. And examples of when we feel the absolute need to will be the topic of a later blog. Sometimes we feel we have to exercise these rights for the benefit of the company…
 

Adrian Lloyd
Partner
Half Swiss. China obsession at Oxford. Tech obsession at Stanford GSB. Strategy consulting to Venture Capital. Tennis, skiing, Cresta riding. 4 young children, a boxer. Fabulous artist wife, Print-maker.

MORE ARTICLES BY Adrian

SUBSCRIBE

Our newsletter is only for the people that want to be seen. If you want to get all the latest tips, tricks, news and updates from Episode 1 then this is the newsletter to be subscribed to. See you in your inbox.

* indicates required

Marketing Permissions

Episode 1 will use the information you provide on this form to be in touch with you and to provide updates and marketing. Please confirm you are happy for us to contact you by email:

You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at info@episode1.com. We will treat your information with respect. For more information about our privacy practices please visit our website. By clicking below, you agree that we may process your information in accordance with these terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

Close


    0 / 1100 characters

      Are you raising £2million or less?

      YesNo

      Sorry we only invest in this stage, so please do not send us a deck if you do not meet this requirement.

      Are you a UK based business?

      YesNo

      Sorry, we only invest in UK business, please do not send us a deck if you're outside the UK.

      Are you B2B focused?

      YesNo

      Sorry, we only invest in B2B focused businesses, please do not send us a deck if this isn't you.

      Are you software focused?

      YesNo

      We only invest in software driven startups, please do not send us a deck if this is not you.

      Please send your pitch deck (max 10mb) to weseeyou@episode1.com and we'll come back to you!
      We appreciate your interest in working with us.

      Contact

      Contact us

      Our address

      4th floor, 112-116 New Oxford St, London WC1A 1HH