“We’ve always done it this way”
I refer to this phrase as “the six most dangerous words in business”
It is amazing how hard and fast patterns of behaviour can be and how difficult people, organisations, industries can find it to think differently, no matter how obvious it can be.
Would you prefer an 11% return on investment or a 32% one?
Today simply sharing a powerful infographic that truly makes the case, from Reinventure Capital, powerful in that it also shows how many people spurn an obvious and compelling opportunity because it doesn’t fit into their comfortable patterns.
In the blog accompanying this infographic Reinventure Capital note:
Acting on widely available and growing evidence that our conventional venture capital colleagues systematically overlook founders who are people of color and women — in spite of the fact that so-called “minority” founders and managers routinely outperform their white male peers — we choose to invest where the overwhelming majority of our peers do not.
I have had the privilege of meeting the principles of Reinventure Capital, Ed and Julianne. They are both brilliant individuals and highly driven to smash the paradigms of the VC world.
I myself have decades of experience on valuing and investing in businesses, every single stat on this image screams out how right they are and that investment capital should flood in their direction!
So why aren’t more people investing in founders who are women and people of colour based on this data? Simple: “we’ve always done it this way” means investing in white men.
Also published on Medium.