Mike Benna Posts

Is a Cohort The Best Way to Vet Potential Entrepreneurs? We’re About to Find Out.

Is a Cohort The Best Way to Vet Potential Entrepreneurs? We’re About to Find Out.

Since launching Stanley Park Ventures we’ve been taking entrepreneurs into our program on a one by one basis, and then a few months ago Jon suggested we experiment with a cohort – a group that would work together on the same problem over the course of an intensive one-day session.

This would give us the opportunity to get to know the candidates all at the same time, giving both us and them a chance to see if there was a fit. So we invited Blair Simonite who teaches entrepreneurship and innovation at UBC’s Sauder School of Business to join us and began mapping out the day. 

6 Criteria for Starting a New Business

6 Criteria for Starting a New Business

When we first decided to launch a startup studio, we were excited at the prospect of being able to jump right in and start coming up with ideas. But we quickly realized that we lacked an investment thesis, the guiding vision we should use to vet ideas. Coming up with one overarching and compelling thesis statement proved to be very difficult. In fact, we found that aiming for this type of clarity so early in the process was detrimental and too restrictive for our purposes.

So we took a step back and got to work developing a set of criteria that we could use as a lens to examine an idea’s merit and determine whether it is in alignment with our goals and values. Here’s what we’ve come up with so far: