How we assess an opportunity before we build

Our approach moves from opportunity to operating company in four stages: discover, assess, build and scale. The assessment stage is where we try hardest to be proven wrong, because it is far cheaper to find a flaw before building than after.

The problem

Every assessment starts with the problem. Is it important? Who experiences it, how often and at what cost? Is it getting worse or better on its own? Strong companies are usually built around problems that are painful, persistent and poorly served today.

The market

We study the market and industry around the problem: who the customers are, how they buy, what they use now and what would make them switch. We also look at the competitive landscape honestly — including the option of customers doing nothing.

The business model

A good product does not guarantee a good business. We examine how the company will make money, what it costs to serve each customer and how those economics change as the business grows.

The technology

For technology-led companies, we assess whether the product is technically credible, whether the architecture can scale and where the hardest engineering risks lie.

The team and execution capacity

Finally — and often most importantly — we ask whether this team, with the right support, can execute. Technical teams with a credible advantage are one of the strongest signals we look for.

Turning findings into a plan

Assessment does not end with a yes or no. It produces a clear view of the risks to address first, which becomes the starting point for building the company together.