So What’s Next? Part 1: My Search Criteria

Now that the cat is out of the bag on my departure from TrueCar, lot’s of folks have been asking what’s next for me professionally.  So I thought I would share my process and how I’m thinking about what I want to do next in a series of posts.  I actually began this process several months ago, it’s been a challenging journey with emotional highs and lows but has also been rewarding having met some incredible people and re-connected with others.

Bottom line, there are a number of potential paths to take and criteria to examine – company size, role, geography, my risk appetite, work/life balance – and there are pros and cons to each of the many combinations.  The good news for me?  I’m not ready to make a decision and I’m in no hurry.  And I’ve been blessed with a unique opportunity to have a professional transition at the exact time that my child is born and I plan on taking advantage of simply being a dad and staring at my son for a few months.  I’m extremely thankful for that opportunity.

So how am I going about my search for the next big thing?  There are really two high-level components to the process.  First, being clear about my search criteria and second, executing a process for uncovering opportunities and ultimately choosing one.  I’ll talk about the first component in this post – my ideal search criteria.  Important to note that “ideal” implies a willingness to compromise and evaluate tradeoffs, which in turn requires that criteria are ranked in priority importance.  Here are mine, in order:

1. I’m not going to start my own company from scratch.  So, I’m looking to partner with a Founder or Founding team.
2. Chemistry with and complementary skills to the Founder(s) is an A-1 priority.  Alignment on strategy, roles, values, culture, team building among others is important.
3. I have a strict “No Asshole” rule.  Meaning I won’t work for one, I won’t be one and I won’t participate in a culture that rewards being one.  It’s toxic and threatens both morale and productivity.
4. I’m looking for an early stage, venture-backed business post Series A.  As opposed to a pure garage startup with limited traction and no funding.
5. I want to build a company with balance – work / life / pursuits.  I have enough experience to know that working 80-hour weeks just because your “supposed to” in a startup is bunk.  A culture of work hard, smart and leaving some juice for personal pursuits is far more productive.  I’m also not suggesting that clocking a 40-hour week is the right answer either.  You work harder in a startup, period.  But balance is possible.
6. I’m considering four geographies.  Boulder, Austin, Bay Area and Los Angeles.
7. I don’t care about industry vertical, but…
8. I want to focus on a huge industry with a large addressable market.  Even better if the industry is fragmented with limited established brands.  But it needs to be a big idea.
9. I’m targeting CEO roles, but will consider COO roles.  This is really a function of the experience/strengths of the Founder, back to chemistry.
10. I want to build a company that solves a real problem and helps people in some meaningful way.