When the Power is Out, Keep Executing with the Right Playbook!
Texas has a lot going for it but one of its shortcomings is “keeping the lights on” during any type of winter storm. This past week, Texas got hit with light ice and snow, including the Austin area. While not a big deal for many of our northern readers, Texas infrastructure and drivers have challenges in these light weather events.
The light wintry mx started on Tuesday, January 31st. As of 8:30am on Thursday, February 2nd, almost 30% of Austin Energy customers were without power (~150,000 customers, or ~300,000 people), including yours truly.
For #VC funds operating small teams distributed throughout the US / world, the show goes on. How do we continue to execute as a team on key projects when one team member is unexpectedly without access to power and WiFi?
Answer: The Playbook.
What’s a Playbook?
Back in December, we shared an updated post on #27 The Playbook - check it out for more detailed thoughts. Every VC fund needs a playbook to execute effectively on its stated strategy across team members. During weeks like this where the unexpected happens, the playbook continues to guide the team!
To recap, A “playbook” is defined as “a book containing a sports team’s strategies and plays, especially in football.” Many of us grew up playing team sports with playbooks and/or enjoy watching them for fun (or misery, depending on your team :)) today.
Here’s a secret: the most successful businesses and VC funds have playbooks as well! A VC playbook is a set of guidelines and best practices that a venture capital firm uses to evaluate potential investments, manage their portfolio companies, and run their businesses. There are many different VC playbooks out there - do you have one? If you have one, do you use it?!?!