The Power of Backing Good People in Entrepreneurship and Investing

The difference between success and failure in the world of entrepreneurship and investment often comes down to a single factor: people. This is a belief shared by Ankush Gera, the co-founder of Junglee Games and an experienced investor who recently appeared on Grit Daily Startup Show to share his insights on entrepreneurship, investment, and technology.

During the conversation, Gera emphasized the importance of backing good people and discussed his journey as both a founder and an investor. The following article will delve into the key takeaways from the podcast, highlighting the significance of purpose-driven businesses, the value of investing in talented founders, and the potential of emerging technologies like AI and Web3.

Backing Good People

Gera’s investment philosophy has evolved over time, with a shift towards prioritizing good people over purely profit-focused motives. He acknowledges that in the past, he was primarily driven by high returns on investment. However, as he gained experience and reached a point of financial stability, he recognized the importance of supporting founders who are genuinely passionate about their work and have a strong sense of purpose.

According to Gera, by focusing on backing good people, even if an investment does not yield high returns, it is still worthwhile because it supports a solid human being striving to make a positive impact. The people-first approach suggests a more holistic view of business success, where qualitative aspects like team dynamics, leadership qualities, and ethical values play a pivotal role alongside quantitative metrics.

The Philosophy of Entrepreneurship

Everyone has a different journey as an entrepreneur. For Gera, his path as an entrepreneur and investor has reinforced his belief that entrepreneurship should be about more than just financial gain. In particular, he believes in the need for purpose and a deeper meaning behind the work, and his investment strategy has drifted to purpose-driven companies.

However, to build successful businesses, entrepreneurs must show immense dedication and be willing to sacrifice. While he recognizes the importance of maintaining a balance in life, there is still a lot required of anyone who wants to succeed as an entrepreneur.

Gera also encourages entrepreneurs to consider the impact they can have on the world, which can help them find a sense of purpose in their endeavors. This emphasis aligns with a global shift towards more conscious capitalism, which is not about profitability but about creating value that benefits a wider community.

The Intersection of Entrepreneurship and Investment

Gera sits in a unique position as both a founder and an investor, which allows him to understand the challenges faced by entrepreneurs. In particular, his experience hiring and firing thousands of people has given him a deep understanding of human personalities, making it easy for him to quickly assess people.

The ability to read people has served as a major factor in Gera’s investments. When he is looking to invest, he asks himself, “Who’s behind this business? What are they trying to build?” And if he doesn’t feel that the people running it are in it for the right reasons, or if they do not align with him personally, he doesn’t invest.

Gera’s belief is that a founder’s character, values, and vision are crucial factors in determining the potential success of a business. Therefore, he values the opportunity to support founders with potential and contribute to their journeys, leveraging his experience and network to provide guidance and support.

The Challenges of Balancing Entrepreneurship and Investment

Gera also commented on the freedom and agency he has as an investor. He remarked that while it is something he enjoys, he struggles with certain challenges of balancing it with his identity as an entrepreneur.

Primarily, because building a successful startup requires such intense focus and dedication, it leaves little time or capital for other ventures. Because of that, Gera has reached a point in his life where he no longer has the desire to start new businesses from scratch.

However, he remains open to the possibility of returning to entrepreneurship in the future if he finds a purpose-driven venture that aligns with his values.