🌏 $275M raised from 900 investors. Improve goal setting. Your future self.
+ Climate software profitability (#165)
Welcome to my free weekly newsletter from EFI (Entrepreneurs for Impact).
It's four short posts about climate tech startups, finance, wisdom, and a little humor.
(3 minutes)
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Climate Startups + Investors
1.
Get smarter with these three climate execs — $275M raised from 900 investors. 1 GW of solar. The Deal Whisperer.
Learn more about business strategy and life hacks from recent guests on my Entrepreneurs for Impact podcast.
#195: JW Postal, CEO of WATTMORE
Energy Storage Software. 200+ Clean Energy Projects Developed. The "Deal Whisperer." 10+ Year Contracts. Influence of Zen Buddhist Mother.
#194: Zoe Gamble, President of CleanChoice Energy
Developing 1 GW of Solar to Meet Customer Demand. Managing Concentration Risk. How to Win in Deregulated Power Markets. Reading Fiction at 5 AM.
#193: Jaqueline van Ende, CEO of Carbon Equity
$275M Raised from 900 Investors in 120+ Companies with $1.8B of Revenue
LISTEN NOW
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2.
Climate tech software is more profitable than enterprise software.
Is this always true? No.
But it is true in this SVB analysis from June 2024.
Blue line = climate tech
Red line = enterprise software
Now that I have your attention, let’s back up…
What is the Rule of 40?
It’s a principle popularized by legendary VC investor Brad Feld (learn more in my podcast with him)
If the combined profit margin and revenue growth rate are greater than 40%, then investors define a SaaS company as healthy.
Personal Growth => Business Growth
3.
What are you optimizing for?
Consider his quote from iconic mythologist and author Joseph Campbell.
“There is perhaps nothing worse than reaching the top of the ladder and discovering that you’re on the wrong wall.”
It’s like asking: Will we like our “future self”?
If you look at people that are 5, 10, or 20 years ahead of you in the same career, do you like what you see?
If not, do something about it. Now.
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4.
Use science to improve goal setting.
Check out this research from the Association for Talent Development.
It showed that the likelihood of achieving one’s goals depends on how we plan to achieve them.
(Duh. You’re welcome.)
Having an idea or goal — 10% likely to complete the goal
Deciding when we will do it — 40%
Planning how to do it — 50%
Committing to someone that we will do it — 65%
Having a specific accountability meeting with a partner — 95%
I’m not sure that business KPIs and OKRs follow this perfectly.
(Understatement of the week.)
Managers might believe that #5 would suggest perfect goal achievement.
But I bet we can use this guidance to hit more personal goals for ourselves.
Can I help you grow your business?
Join our confidential peer group for climate CEOs — 90 members, $30B of value.
Join me for executive coaching — Expand what’s possible.
Learn from climate CEOs and investors in our podcast — 190+ guests so far.
That’s all, y’all.
Make it a great week because it’s usually a choice.
~ Chris
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P.S. If you liked this, you might find value in my daily LinkedIn posts.
Thanks for giving the wonderful information. I want to know which could be the better way to complete the goal?