TTCER Partners and Ashford Venture Partners have presented a white paper codifying the core values that make the SF community unique and compelling to the many stakeholders in the ecosystem. These values originated with the early “founders” of Search and shape the way we engage with one another, drive decision-making, and create an environment that attracts exceptional talent to the space, enabling this seemingly implausible form of entrepreneurship to thrive.
After conducting interviews and analyzing data from nearly 300 survey respondents, the authors identified 6 core values:
- Approach to Leadership: We believe value is created by developing opportunities for others and sharing our wisdom freely as others have done for us. We build relationships for the long term.
- Characteristics we value: Grit, resilience, effort, and curiosity. We seek to learn and grow.
- What we care about: We aim to bet on and support as-of-yet unproven talent. We value broad autonomy and expect accountability from entrepreneurs and investors alike.
- Standards we hold: We apply exacting standards to the quality of businesses we buy and our own performance. We win the right way.
- Behaviors we prize: As we work together and lead, we value transparency and collaboration. We aim to make decisions tied to enduring principles and approach interactions with humility.
- The goals we target: We value outcomes, great returns for investors and entrepreneurs, rewarding careers, impactful companies, and personal connections that compound.
These values impact business outcomes. Here are 5 key insights:
- Help us buy better companies: Buying the right asset is the most crucial step of a searcher’s journey.
- Influence our view of success: The view of success encompasses financial returns but also includes our own success as leaders, mentors, and company-builders.
- Shape how CEOs lead: The way I make decisions, how I advise and mentor, how I engage with my board of directors, how I set goals…
- Search values shape search companies: The community has been influential in helping your company succeed, attract and retain talent, and provide a competitive advantage…
- The best performing companies most embody search values: Collaboration, mentorship, innovation, driving results, grit, long-term relationships…
The survey concludes with various opportunities for improvement and growth:
- A reluctance to have tough conversations
- A lack of flexibility: how better flex to meet the ever-changing demands of leaders
- Bandwidth constraints: expanding board participation to meet the needs of entrepreneurs
- Women are underrepresented and there is a lack of diversity
- CEOs aren’t spending enough time on company culture
This study affirmed and defined the values that have given rise to a model enabling first-time CEOs to successfully buy and build companies, time and time again. The authors believe these values serve as the fulcrum on which this wonderful community will continue to thrive.
