How might we improve the “reviewing board decks and engaging at board meetings” aspect of portfolio monitoring? A checklist. Specifically, we can rely on the Inversion Mental Model to craft a really good checklist. It asks you to consider what could go wrong. To quote Farnam Street: "avoiding stupidity is easier than seeking brilliance." (BTW, that’s a “must read” article on the topic. James Clear’s “Inversion: The Crucial Thinking Skill Nobody Ever Taught You” is another.)

VCs: measure and monitor the right things and returns will increase. But how? This week we continue walking through our framework (and some of our tools) to derive smart, data-driven KPIs.