"How would a badass do it?"
On telling memorable stories
Do you think there’s more to learn about how to operate in a business from someone who built a business in a growing market with strong margins and accumulating advantages, or someone who turned a business around in a shrinking market with razor-thin margins?
The scope for failure is much smaller in the latter, which is why I listened to this podcast with Kat Cole yesterday. And I wasn’t disappointed, I continually had to stop running to write notes down in my phone.
When I love a podcast interviewee this much, I always search for their name and listen to every other podcast and video they’ve done. By doing this, you not only learn about them but also about the stories they tell most frequently.
Kat has a wonderful talent for telling memorable stories, using a combination of carefully selected words and metaphor. While none of these insights are novel (are any in business?), the way they’re phrased makes them stick.
When asked about what makes a great leader, her answer is:
“a combination of courage and confidence, with curiosity and humility”
and she follows with stories of asking questions and being vulnerable with employees, then having self-belief and taking action.
When asked what question she asks when checking in with both employees and family:
“Tell me one thing I can do differently to be more effective for you?”
then emphasises the importance of the word ‘differently’ in creating the space for people to tell the truth.
On what matters for a brand:
“Differentiation and relevance. You need both”
and understanding the areas your brand “has permission” to expand to.
On the tension in trying to give franchisees independence while also keeping the brand promise to consumers:
“That tension is like fast moving water weathering rock”
The Hot Shot rule:
“Imagine someone who is a complete badass at what they do, what is one thing they would do differently? Then do that thing immediately.”
And finally:
“Your truth is in your roots, but your past is not your jail”
Telling memorable stories is such a skill, one I want to improve at, so if you have recommendations please reply to this email.
And I have not done justice to Kat’s depth of thought here, please listen to/watch the links included above.
Getting women on cap tables
A couple of weeks ago I had a drink with a friend who recently returned from SF. Over there she’s part of a consortium of women who angel invest together.
It made me think about the difference between income and wealth, and how the financial inequality women experience is not just about salary but also about not investing their capital to grow their wealth.
So I fired off a tweet without thinking about it:
And the reaction was wonderful. I received dozens of DMs and emails from women looking to invest, and men recommending women they know.
I want to keep building out this list, so if you know any talented woman operators who may want to angel invest in the future, please send on this email and get them to contact me: Jackie@airtree.vc.
Links I enjoyed:
Reflections on being a female founder.
This article from Tracy Young, the founder of PlanGrid, is one of the most honest and vulnerable reflections I’ve read on being a founder while being a mum.
The internet is a magical place.
Want to Become a Unicorn? Buy it, Don’t Build it
I’ve always been a bit obsessed with Amazon FBA rollups, it feels like the epitome of taking advantage of an opportunity in main street business. PE funds have been doing FBA rollups for a few years now, and this is a good breakdown of how a couple of founders are using VC money to do the same thing. I imagine those VCs are taking the bet Amazon won’t shut Thrasio down because of the regulatory risk of doing so when antitrust is at the forefront of politicians’ minds.
The Canva Backlink Empire: How SEO, Outreach & Content led to a $6bn Valuation
A deep dive on how Canva masterfully uses SEO for organic growth and creates a compounding advantage over the long term.
And just because it’s cool:
As always, I’d love to hear from you, please reply with your thoughts. If you enjoyed the newsletter, please share it.
Thanks for including the Canva teardown Jax!
Super strong, loved the podcast w/ Kat, thanks Jax