Lessons from Kirsten Green, founder of Forerunner Ventures

On Investment Philosophy and Strategy

On the core of Forerunner's philosophy: "Forerunner has always been about understanding people, what they want today and what they will need tomorrow. It's a perspective that has shaped our portfolio and what we uniquely bring to the table when we partner with a start-up." [1]
On their investment approach: "Our approach is thesis-driven and research-backed, bringing a prepared yet open mind to every discussion, so we can help you make decisions with confidence and speed." [2]
On the importance of being nimble: "I believe the most valuable trait to have today is to be nimble...It's not just about being nimble at the earliest stages, it's about being nimble the way through." [3]
On the long-term view: "Partnering with Forerunner means having relentless advocates fully bought into your journey. We take the long view, knowing that building dominant market positions requires time and persistence." [2]
On investing in founders: "We never invest in a male; we never invest in a female. We just invest in the right entrepreneur." [4]
On the qualities they seek in founders: "The best founders are intellectually honest, adaptive, and relentless. They operate with conviction but aren't rigid; they adjust, refine, and evolve in pursuit of something enduring." [2]
On the future of investment: "Every category is up for reimagination. Bring us your wildest ambitions." [5]
On their investment criteria: "We are compelled by models that get stronger as they grow. Execution is everything, and technical excellence is non-negotiable." [2]
On the evolution of their focus: "The connective tissue is the way we ever got interested in these things in the first place was to follow our nose with the consumer. The way we talk about it is the consumer is our North Star." [6]
On their investment size: "We primarily make initial investments at Seed and Series A...writing initial checks that typically range $1M-$15M." [2]

On Consumer Trends and Retail's Future

On the modern consumer: "The customer wants what the customer wants - when they want it, where they want it, and how they want it." [4][7]
On the changing retail landscape: "Retail is undergoing a massive change, and there is a chance for new leaders to emerge and older brands to reinvent themselves." [4]
On the blurring lines in retail: "The lines between retailers and brands are blurring...the leaders of tomorrow are embracing this blurriness." [8]
On the importance of experience: "They're maniacally focused on delivering experiences...retail can be an event it can be an opportunity to build brand affinity. or create sharable content moments and sell product there." [8]
On the role of technology: "Technology is the real integration of technology into both the front end and the back end of our lives and business...it's enabling it in a scalable way it's bringing experiences connections service and values back to the center stage." [8]
On social media's influence: A significant percentage of people, according to Green, say social media is the main source of inspiration for the products they buy. [8]
On the burden of ownership: Green has noted that a large portion of consumers admit that "owning today feels like a burden," highlighting a shift in consumer values towards experiences over possessions. [8]
On direct-to-consumer models: "One of the original promises of direct to consumer was to take out the middleman because middlemen were expensive." [7]
On the evolution of commerce: "The transformation of this industry happens in partnership with the evolution of consumer behavior and expectation and the technology that allows those expectations to be met." [7]
On the consumer as a collaborator: "These companies are embracing consumers as collaborators...they understand that that consumers want to be part of their journey they want to be included." [8]

Advice for Entrepreneurs

On owning your ambition: "Put all of your ambition out there and really own it. Own what you know and what you don't know and be okay with that. And never be afraid to dream big." [3]
On the importance of authenticity: "Invest in Authentic Connections With Consumers...understanding consumers isn't just about demographic data - it's about connecting emotionally with your audience." [9]
On the nature of entrepreneurship: "Entrepreneurship is not a career - I really believe it's a calling." [10]
On the founder's vision: A key trait Forerunner looks for is a founder "who's really thinking differently about the future who kind of you know has an idea has has their own unique idea about where the ball is moving forward." [11]
On being nimble as a startup: "It's certainly one of your biggest advantages as as a startup is to be nimble. and if you give that. away. like you're adding risk on risk." [12][13]
On choosing investors: "Choose investors who will be your strategic allies. Don't just chase money; pursue meaningful partnerships." [9]
On building a team: When recruiting, founders should focus on "vision, discipline and confidence" rather than just high salaries. [14]
On what not to do when pitching: Green advises against certain behaviors when pitching to potential investors, emphasizing the importance of a well-prepared and authentic presentation. [10]
On avoiding common startup pitfalls: Entrepreneurs should avoid simply copying trends, ignoring the consumer's voice, and having misaligned priorities between profitability and long-term values. [9]
On the journey of building a business: "So much of the decision to part with dollars is about the journey, it's not just about the purchase at the end of the rainbow." [10]

On Brand Building

On the power of brand: Forerunner believes in "brands that move people, not just products." [2]
On what makes next-gen brands successful: Next-generation brands are "digitally savvy, they're building data and experience driven relationships with their customers, and they're willing to adapt." [15]
On the role of value: Value is not defined by price; successful companies have a solid value proposition that can build a brand over time. [16]
On the human connection: "The most engaged consumers today are really want to know who they're in business with they want to know who's behind the brand they're actually willing to embrace brands kind of like they do relationships." [8]
On brands offering stability: In a world with fewer constraints, "there's an opportunity for a brand to offer consumers some stability something depend on." [8]

Personal Learnings and Reflections

On her secret superpower: "Intuition." [17]
On a skill she's developing: "Patience. I like action, fixing things now. But the best insights take time, and discomfort often leads to truth." [17]
On her career high: "Building Forerunner—a journey that challenges, excites, and fuels my growth, both personally and professionally." [17]
On personal growth: "Letting go of what didn't serve me and learning to bet on myself." [17]
On enjoying the journey: "You should enjoy the successes along the way...if you hold yourself accountable to some future bar and don't enjoy where you are today, you'll miss it." [3]
On the power of instinct: "There's something to be said for not losing the magic of your instincts." [10]
On her passion for her work: "I am giddy with enthusiasm when my companies are doing well. And my heart hurts when they're not." [4]
On being a woman in venture capital: "We're just as good, we're just as capable, we're just as strong. We shouldn't be held back. And if there are things that are unfair that are contributing to that, we need to call them out and help people change their behaviors and their biases." [3]
On defining power: "Power is living your life on your own terms, how you want to, in a way that feel good about." [3]
On her early research methods: "I started spending a lot of time in the mall doing a lot of qualitative research and really watching what consumers were doing." [4]
On continuous learning: "You've got to be willing to make yourself a little vulnerable. And just be like, I've got to learn new things. And I've got to have people of different generations show me the way." [6]
On working with people you respect: "I optimize for brands and people I enjoy spending time with...Even the bad times are tolerable when you're working alongside people you respect and like." [18]
On owning your destiny: "There is no one way to do it...Not any one move is going to make or break a career...you can own your own destiny." [3]
On the importance of role models: "People need role models, and they need to feel that there's this opportunity to learn. They need to have people that will stick up for them. I want to be a part of that." [4]
On the investigative part of investing: Her early career "started my love for like the investigative. part of investing." [12]

Learn more:

Lessons from Kirsten Green, founder of Forerunner Ventures

On Investment Philosophy and Strategy

On Consumer Trends and Retail's Future

Advice for Entrepreneurs

On Brand Building

Personal Learnings and Reflections

Written by Antoine Buteau

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