Christine E. Boyle’s Post

I really love the perspective of Mike Maples in his book Pattern Breakers. Fundamentally, these market swings are the "waves" that you need to surf to achieve venture returns. Without them, you will never be able to move fast enough to return a fund. However, there has to be a fundamentally compelling business that is doing the surfing. But even an amazing surfer will have disappointing results without a wave and you've really gotta understand the size of the wave and what is driving it to know if it will be sustained or pitter out.

Keep an eye on external factors, but don't center your business case on factors that are outside of your circle of control. Focus on what is inside your circle of control - i.e. develop/sell exceptional products. The more exceptional, the less reliant you will be on external factors.