Economics can work
There must be enough margin or a credible route to enough margin for the business to fund growth and overhead.
1. Start with the business, not a sales call.
The application asks for practical information about the product, revenue, margins, stock, suppliers, channels, liabilities, founder commitment and what is holding the business back. We do not need a polished pitch deck at this stage.
2. We screen for fit.
Our first question is not whether we can build a better website. It is whether our involvement could materially improve the value and probability of success of the wider business. We look at economics, founder commitment, differentiation, capital intensity and digital upside.
3. Suitable founders are invited to a conversation.
We do not make the calendar publicly available. If an application appears relevant, we contact the founder directly and provide a private link to arrange an initial call. The call is exploratory, not a commitment from either side.
4. Promising opportunities move into deeper assessment.
This can include financial information, stock, supplier terms, ownership, tax and legal matters, website and marketplace accounts, operational processes, customer data and the competitive environment. Sensitive information should only be shared when it is genuinely necessary.
5. We design a partnership around the actual situation.
There is no default 50/50 rule. Existing value, founder funding, future work, required capital, risk and ongoing responsibilities all influence what a sensible structure might look like.
6. Only then do we build.
Once the commercial structure and responsibilities are agreed and appropriately documented, we move into a prioritised operating plan. The first objective is usually to remove the constraints that most directly prevent profitable, repeatable growth.
Decision discipline
What has to be true before we proceed?
A partnership only works if the commercial opportunity and the human relationship both withstand scrutiny.
The founder remains engaged
We are looking for partners, not owners who want to hand over the entire business and disappear.
Our capability matters
We should be able to identify concrete ways our commerce, technology and operating expertise can change the outcome.