Don’t Let the Perfect be the Enemy of the Good

Venture capitalists and mountain guides are perfectionists. We plan, and scheme, and study, and try to map out all the nuances to achieve the ideal result. Some of these we share with our entrepreneurs and clients because we need and value their input. Some we do not because the sausage-making would freak them out.

Our goal in every deal, on every climb, is to obtain a good outcome.

Good is achievable. Great is sometimes in reach. Flawless is possible. Perfect is not.

Nothing is perfect.

This fact irritates VCs and mountain guides to no end. As perfectionists, we're constantly revisiting our past mistakes even in successful outcomes, in hopes of making original mistakes in the future. This constant pursuit of perfection in our professional lives is fine, so long as it doesn't interfere with our goal: to obtain a good outcome.

We are awash in mediocrity. It surrounds us so much that guides and VCs forget that just by consistently performing at a good standard, we've distinguished ourselves from everyone else.

Throughout my career I've been impressed with the quality of the imperfect people who call themselves venture capitalists. The best ones are lucky and smart and display a rare, intuitive understanding of the context of their role in early stage companies. But these talented individuals are frequently frustrated by the limitations of our craft.

A blown IPO, an entrepreneur's hanky panky, a key regulatory change, a rare but deadly computer virus -- all the ways that great startup companies deal with unexpected setbacks -- define them and their eventual success. But these same imperfections drive their VC investors insane.

The mountains are the same. Every day on the hill, crazy stuff happens that threatens to derail an otherwise perfect tour plan. The best guides accept these random events as part of the experience, adjust the plan, and with a big smile and a small shrug, lead through to the summit.

Great venture capitalists and mountain guides share the same quality: they refuse to let the Perfect be the Enemy of the Good.