Groundwork Issue 001

Unconventional Strategies for Entre FORGING AUTHENTIC BONDS:

Welcome to the inaugural edition of Groundwork Magazine, a platform created specifically for underserved entrepreneurs who are seeking fresh perspectives on accessing capital that goes beyond cliché 101 advice. We understand that as an underrepresented entrepreneur, you navigate a unique landscape with its own set of challenges and opportunities. In this edition, we break free from conventional wisdom and delve into unconventional strategies that will revolutionize your approach to fundraising, no matter who you are - or who they THINK you are. Throughout this magazine, we have curated a collection of actionable content that challenges the status quo and offers unique insights from industry disruptors and boundary-pushing entrepreneurs. Our mission is to equip you with the knowledge and tools necessary to thrive in the fast-paced world of fundraising, while embracing your individual entrepreneurial spirit and leveraging the power of genuine connections. In this edition, you can expect to explore:

1. EMBRACING YOUR ADVANTAGE:

Discover how your unique environment and perspective can be a fertile ground for unconventional fundraising opportunities. We'll dive into the dynamics of ecosystems, exploring the local networks, resources, and potential partnerships that can accelerate your fundraising journey.

2. THE ART OF AUTHENTIC NETWORKING:

Move beyond traditional networking events and explore alternative ways to forge authentic connections. We'll share innovative strategies for building meaningful relationships with potential investors, mentors, and industry influencers, tailored specifically to the urban entrepreneur's context

repreneurs to Accelerate Fundraising

3. UNORTHODOX INVESTOR RELATIONS

:

Challenge the traditional investor relations playbook and uncover alternative approaches to engage with funders. We'll explore creative communication strategies, trust-building techniques, and unconventional ways to foster long-term partnerships that align with your unique vision and urban ambitions.

4. DISRUPTIVE PITCHING TECHNIQUES:

Break free from the cookie-cutter pitch templates and embrace disruptive pitching techniques that captivate investors' attention. We'll explore storytelling, experiential presentations, and non-traditional mediums to deliver a pitch that stands out in a sea of sameness.

5. LEVERAGING CULTURE AND COMMUNITIES:

Harness the power of culture and communities to propel your fundraising efforts. We'll delve into strategies for engaging with local communities, leveraging their support, and tapping into urban trends to attract funders who resonate with your brand and mission.

We invite you to immerse yourself in this edition of Groundwork Magazine. Each piece has been carefully selected to provide you with fresh, unconventional perspectives and strategies that challenge the status quo of fundraising advice. It's time to revolutionize your approach and leverage your unique advantage to unlock unprecedented opportunities. Get ready to explore the cutting edge of fundraising, embrace your entrepreneurial spirit, and forge authentic bonds that will accelerate your path to success.

JANNAE GAMMAGE

FOUNDER OF FORESIGHT

If real estate is about location, location, location, then being an entrepreneur is about relationships, relationships, relationships. In 2014, when I first started as a serious entrepreneur, my marketing initiatives and messaging were built around being ‘self-made’. It worked because #selfmade was trending for solopreneurs, especially in the fitness industry, and to be honest, that type of business didn’t require much outside of a great work ethic and the ability to manage people and systems while posting workout videos. I also didn’t have big lofty goals for revenue. In my mind, I was uber-successful generating enough revenue to take home $8-$10k for myself every month. Now don’t get me wrong. Having the foundation of

independence and paving my own path was and is important but I’ve come to understand that I will never be “the best me” doing things by myself. EVER. The best founders and visionaries succeed because they know how to create teams, efficient workflows, and lead everyone towards their goals. They also don’t use phrases like “I’m my own boss, I work for myself, I don’t answer to anyone, I don’t work for anybody.” Because truth be told - they work for everybody. I also know that to be successful, I have to focus on people over profit, and that means being the highest form of a servant I can be.

I moved to Kansas City, MO in June 2019 to start my company because it just made sense. My co-founders

were here, I was flying back and forth from the DMV (D.C., Maryland, Virginia) once or twice a month, and I know this will sound crazy, but what finalized my decision? I read a few articles about Kansas City being the ‘next big thing’ for tech startups. So obviously, these things add up to me uprooting my entire life, letting my marketing contracts fizzle out with brands like Nike, Lyft, etc. to start fresh in an industry I had absolutely no experience in right? For perspective - I decided to start a tech company, an industry I really knew nothing about, in a new city, with no network, no leads, no product or even the skillset to create a software product. And we can’t forget the obvious. As a black, female founder. Statistically, there is absolutely no chance in hell I’d pull it off.

For me though, those barriers were actually my strengths. Unlike most founders who set up shop in their hometown or current place of residence, I had no choice to not only make building relationships my #1 priority, but the RIGHT relationships. Even more so, I walked into every room seeking knowledge. As far as I was concerned, I knew nothing about tech, even if I did. I believe our 18-month record breaking timeline from ideation, to launch, to exit for The Market Base was 100% due to being intentional about building relationships over customers first. We thought it only fitting, to focus our launch issue on building your business and opportunities. Use this issue as a guide to empower and inspire the groundwork to building relationships.

JANNAE GAMMAGE JANNAE GAMMAGE FOUNDER OF FORESIGHT

It’s about building relationships -

WHAT YOU’LL LEARN IN THIS ISSUE Table of Contents

UNORTHODOX INVESTOR RELATIONS:

Challenge the traditional investor relations playbook and uncover alternative approaches to engage with funders. We'll explore creative communication strategies, trust-building techniques, and unconventional ways to foster long-term partnerships that align with your unique vision and urban ambitions.

I. Not All Who Wa(o)nder are Lost: What I Learned As A VC Nomad (Interview)

II. The Five Investment Languages: How to Express Heartfelt Commitment to Potential Investors

EMBRACING YOUR “DISADVANTAGE”

Discover how your unique environment and perspective can be a fertile ground for unconventional fundraising opportunities. We'll dive into the dynamics of ecosystems, exploring the local networks, resources, and potential partnerships that can accelerate your fundraising journey.

I. Ecosystem Deconstructed

II. The MarketBase Roadmap to Exit

THE ART OF AUTHENTIC NETWORKING:

Move beyond traditional networking events and explore alternative ways to forge authentic connections. We'll share innovative strategies for building meaningful relationships with potential investors, mentors, and industry influencers, tailored specifically to the urban entrepreneur's context.

I. Don't Skip This Step: Relationships are the Key to Getting to the Check

II. Networking Beyond the Norm: Forging Authentic Connections That Matter

DISRUPTIVE PITCHING TECHNIQUES:

Break free from the cookie-cutter pitch templates/templates and embrace disruptive techniques that captivate investors' attention. We'll explore storytelling, experiential presentations, and non-traditional mediums to deliver a pitch that stands out in a sea of sameness.

I. Crafting a Pitch That Resonates: Understanding Investor Psychology and Tailoring Your Approach

II. The Art of Experiential Presentations: Your Pitch as an Experience

5. LEVERAGING CULTURE AND COMMUNITIES:

Harness the power of culture and communities to propel your fundraising efforts. We'll delve into strategies for engaging with local communities, leveraging their support, and tapping into urban trends to attract funders who resonate with your brand and mission.

I. Not all Mentors are Created Equal: Finding the Right Match for Right Now

GROUNDWORK

GROUNDWORK

Investor

NOT ALL WHO WANDER ARE LOST

NASSIR CRISS

Everyone knows that strong networks lead to the best deals. Yet, most founders today still feel disconnected and out of touch from investors. Unintentionally, it seems like factions have been formed on both sides. Founders networking in tight knit communities, and investors hosting endless happy hours with other investors hoping to better understand founder archetypes and company dynamics. I can’t pinpoint when exactly this started or why it’s happening, but a few things come to mind

1. Investors have to say no to 90%+ of companies they review. This usually isn’t personal, but a symptom of timing really. At that specific snapshot in time the company may not be a good fit for the investor’s portfolio of opportunities. Founders need to understand this, and not rush to animosity with investors but realize it’s not a no forever, it’s just a no right now

2. Most investors aren’t builders. Besides the founding partners and maybe a few early investment professionals on the team, most investment teams are finance professionals. Understanding the financials of a business are extremely important, but knowing how to build a strong team, knowing how to identify and then push beyond your limits for growth and development, understanding sales and marketing and how to build a sustainable brand — these are just a few of the hats founders have to wear and most investors don’t know what this is like or have this experience

3. The VC model isn’t transparent enough.

Investors tend to assume founders that go-to-market have at least a working knowledge of capital raising and unfortunately this isn’t always the case. This can result in unfriendly investors manipulating terms and deal structure to a founder’s disadvantage. On the other hand, Founders usually overestimate their ability to negotiate when raising capital, but don ’t focus on the due diligence process enough i.e. researching interested firms and their track record, understanding the legal documents and rights, brea king down deal structure and capital stack math to better disburse equity. And although it feels like founders are asking more questions, they are sometimes stumped because they don’t know the right questions to ask, and investors aren’t always forthcoming

I’ve spent the last 3 years observing th e VC/Founder relationship.

I built a successful business in college alongside my co-founder Mujtaba Elgoodah. I went on to help friends, classmates, and colleagues build businesses of their own. I also failed more times than I can remember, even though there were a few wins. Each time I started something new I learned to be a stronger Entrepreneur. Eventually I helped build a venture-backed startup with a mentor of mine from the ground up and saw it go on to be extremely successful. I’ve learned how to invest from one of the top growth equity firms in the world, managing over $1B in assets. And now, I’m spending my days building out Fund I with Sixty8 Capital — a firm dedicated to investing in undercapitalized founders and communities.

I’ve been fortunate enough to have both founder/vc experience — funding founders and supporting portfolio companies as they grow.

I’ve leaned on both to help me better connect with my counterparts in the investment community and the incredible founders we get to speak with every day. But this wasn’t enough, I knew that to truly understand founders, their problems, and their communities I had to spend time with them. Within the pandemic, it was easy to connect with founders on Zoom to start the relationship, but to truly understand and strengthen relationships, I needed to see their offices, neighborhoods, favorite restaurants and more. Building business relationships are no different than building personal relationships —

I was an operator before I became an investor.

it’s all about intentionality, communication and consistency. Over the past year, I’ve been nomading across the country spending time in different startup ecosystems. My goal for each month was to travel to 2–3 cities and spend a few days at a time meeting with ecosystem leaders and founders. I successfully visited the following cities: Los Angeles, Denver, Tulsa, Charlotte, D.C., NYC, Kansas City, STL, Louisville, Philadelphia, Indianapolis, Detroit, Cincinnati, and Houston. While vastly different locations with different people, customs, and cultures, the entrepreneurial ecosystems shared similar characteristics and similar challenges. Each city had numerous entrepreneurial support organizations, all with different goals and different motivations.

Some helped businesses find new grant opportunities, others helped them accelerate their development, some took the businesses through rigorous coursework and training. I noticed that founders, especially first-time founders, all need the same things and capital is usually the last step but arguably the most important. Most of the founders that I met didn’t come from entrepreneurial backgrounds — they evolved out of a need. So what’s the secret sauce and how do we build better connective pipelines for founders?

Patter n Matching vs. Finding Outliers to Drive Innovation

The problem is that most investors are typically looking for the same things, in similar recognizable patterns. Which actually is counterintuitive to deploying capital to the most innovative startups. When you’re evaluating a company solely based on the balance

sheet, P&L, and cash flow statements, you miss the key intangibles of the solution they’re building, and why they’re building it. Financial due diligence is key, and a necessary step in the evaluation of businesses, but it is not the only step. We typically evaluate a business by trying to first understand the true market opportunity. A simple question we ask founders is: “Is this solution mission-critical for the success of the people that will be using it?” We are ultimately trying to understand is this platform/software/application a nice to have vs. a need to have? If it’s a need to have, how often will people use it? Is it every month, week, or day? After identifying a true market need, we then do our best to understand the customer acquisition strategy. Is it easily repeatable and scalable? How do you know? Have you tested this with prospective customers? Directly, we as Investors need to spend more time looking for outliers vs. companies that follow the mold of what we’ve already seen. Innovation is driven by new ideas and strong execution.

Each time I started something new I learned to be a Entrepreneur.stronger

“builder”

Founders that are coming up with new ideas need support. It’s rare that a Founder has deep acumen across product, sales, engineering, development, operations, and talent. As investors, for us to be true leaders in our entrepreneurial ecosystems we need to go deeper in filling in the gaps founders need. And if we can’t step in as co-operators, we need to find them the talent to do so. There has to be more than capital on the balance sheet — there needs to be smart money and resources to help founders increase their chances of success.

There are gaps between programming and funding, and the question is, why hasn’t there been one global fund created that has strong internal programming and executes at a very high-level across different segments to help the best founders shore up their ideas and win? This is the gap that Sixty8 Capital is trying to fill and something that I was able to better understand by spending time with founders. I’m deeply passionate about solving this problem and finding more ways to help overlooked founders succeed. By visiting the cities I listed above, I found other startup leaders who are on a similar mission to my own.

THE FIVE INVESTMENT LANGUAGE

BY JANNAE GAMMAGE

FIVE INVESTMENT LANGUAGES

Heartfelt Commitment Investors

By Jannae Gammage

THE FIVE INVESTMENT LANGUAGES

BY Jannae Gammage Jannae

Acts of Service: Demonstrating Dedication and Value

Just as acts of service demonstrate love, in the investment context, acts of service involve showcasing your dedication and the value you can provide to investors. This includes going the extra mile to conduct thorough research on their investment preferences, identifying how your business aligns with their portfolio, and addressing any potential concerns or needs they may have. By proactively offering support and demonstrating your commitment to their investment success, you convey that you are invested in their goals.

Gift-Giving: Tailoring Your Pitch and Offering Unique Opportunities.

Gift-giving in the investment realm means tailoring your pitch to match the specific interests and preferences of potential investors. Instead of a physical gift, it involves presenting a compelling investment opportunity that aligns with their investment goals and values. By personalizing your pitch and offering unique value propositions that resonate with their priorities, you demonstrate your attentiveness and dedication to meeting their individual needs.

Physical Touch: Building Trust and Connection

While physical touch is not directly applicable in investment conversations, the essence of this love language can be translated into building trust and connection. Establishing a personal connection through genuine conversations, active listening, and empathetic understanding creates a sense of trust and comfort. By demonstrating authenticity, transparency, and integrity, you create an environment where potential investors feel emotionally connected to you and your business, laying the foundation for a fruitful investor-entrepreneur relationship.

Just as Gary Chapman's "The Five Love Languages" provides insights into how individuals express and experience love, we can draw parallels to the world of investment conversations. A large piece of raising capital is the ability to sell outside of the pitch. This key to success is also a huge barrier to educating founders on how to sell because the reality is - every single investor differs on what matters most when making an investment decision. When engaging with potential investors, understanding their preferred "investment language" can make a significant difference in fostering genuine connections and expressing your commitment effectively. In this framework, we adapt Chapman's love languages to create "The Five Investment Languages," guiding entrepreneurs in their interactions with investors.

Quality Time: Investing Undivided Attention and Engaging Interactions

Just as quality time in relationships involves giving undivided attention, quality time in investment conversations means dedicating focused and meaningful interactions with potential investors. This includes actively listening to their concerns, providing detailed information, and answering their questions thoughtfully. By investing quality time in conversations, you show respect for their time and demonstrate your commitment to building a mutually beneficial relationship.

Words of Affirmation: Expressing Confidence and Appreciation

Words of affirmation play a crucial role in expressing commitment to potential investors. Offering genuine praise, expressing confidence in their expertise, and acknowledging their achievements can make them feel valued and appreciated. By articulating your belief in the potential of your business and their contribution as an investor, you inspire confidence and foster a positive investment relationship.

Just as understanding the love languages can enhance relationships, recognizing the investment languages can transform your interactions with potential investors. By tailoring your approach based on acts of service, gift-giving, building trust, quality time, and words of affirmation, you can express heartfelt commitment and create a strong foundation for successful investment partnerships. Adapt this framework to effectively communicate and connect with potential investors, ultimately increasing the likelihood of securing the capital needed to fuel you entrepreneurial journey.

EMBRACING YOur

GROUNDWORK

It starts with the Groundwork

JUNE 2019

Jannae Moves to KC

SEPTEMBER 2019

Build the Product

JULY 2019

Build Relationships

AUGUST 2019

Spread the Word

INTERACTIVE MAP

SCAN FOR EXCLUSIVE CONTENT

KETBASE TO EXIT

DECEMBER 2021

DECEMBER 2019

APRIL 2020

MARCH 2020

JANUARY 2020

THE ART OF

GROUNDWORK

DONT SKIP THIS STEP!

BY ALAIA MARTIN

As much as we wish it were, success in business is never a simple equation of talent, intelligence, and sheer work ethic. In entrepreneurship, where dreams are forged and fortunes are made, one truth reigns supreme: you cannot build empires alone. Your relationships will be the key to getting to the check, and will either catapult you to success or cast you into the wasteland of failed startups. So, our advice while you’re juggling all the things and building your business? No matter what, don't skip this step.

As you navigate the chaos of entrepreneurship, remember that it's a dance of collaboration, ambition, authenticity, and meaningful connections. That’s worth repeating, because chances are no one told you that it takes a mix of them all to succeed. Behind every smiling success story lies a network of relationships, carefully nurtured and thoughtfully cultivated. That network built the foundation for collaboration, support, and growth, and offered a web of opportunities, insights, and guidance that could never be accessed in isolation. (If it’s sounding a lot like a cheat code, that’s because it 1000% is.) Let’s get into why, and how this should fit into your master plan. First and foremost, an important notewe’re talking about real and authentic connections. Authentic rfostetrust, which is the bedrock lasting partnerships are built on.

Whether it's with mentors, advisors, colleagues, or customers, trust creates an environment where ideas can flow freely, honest feedback is welcomed, and collaboration flourishes. It's in these trusted relationships that you find the support and encouragement you need - and loyal advocates to stick by your side. These connections can also provide mentorship and guidance, which are invaluable assets to every entrepreneur. People who’ve walked the path you're on can give you insights and knowledge you didn’t even know you needed - and anyone who’s learned some lessons in business the hard way can vouch for how crucial that is. Someone’s fresh perspective can help you sidestep mistakes before you make them, and think bigger than you ever have. If you want to speed up your growth, focus on prioritizing mentor relationships. They’re worth their weight in gold. Another cheat code that comes from authentic relationships? The beauty of collaboration. Every relationship can open a door to partnerships, joint ventures, and co-creation - or just having your name brought up in rooms you aren’t in. Pooling resources and expertise helps you achieve goals that may have been out of reach alone - and do it faster and smarter. These partnerships can also breed innovative solutions, increased market visibility, and a

stronger competitive edge. Think of it as your own personal brain trust that gets more powerful with every dope person you add to it. Collaboration = amplified impact for everyone, and we love to see it. So you’ve already built some trust, some partnerships, have a few mentors and some collaborations. Up next is the relationships you cultivate with your customers (those people that give you their money, but you may not have thought about again.) Customers are the lifeblood of any business, and building genuine connections with them fosters loyalty and advocacy. When customers feel a personal connection to your brand, they become more than just consumers; they become raving fans who promote your business to other people.

So… why haven’t we mentioned fundraising yet if all this is to get to the check?

Because all of this should come first. When you need to raise money, there’s not some magical list of people you cold-call to send money raining from the sky. By the time you start fundraising, you should be armed with allies, connections, an amazing reputation and an arsenal of information and advice at your disposal. All of this is like rocket fuel once you actually come face-to-face with

the people who hold the power to fund your dreams.

Getting to the check is just like a good game of chess. Even if you don’t know how to plan five moves ahead, you can start positioning yourself to win by building a massive network of authentic connections. Make yourself a resource for others. Reach out to people you meet and forge a relationship with them over time. Network to your heart’s content, but do more than just collect a pile of business cards or LinkedIn connections that you never speak to again. We said it earlier, and we’ll never stop saying it - don’t skip this step.

No matter how you look at it, relationships are the key to entrepreneurial success. Cultivate them, nurture them, and watch as they become the key that unlocks your path to success and propels you toward the ultimate checkmate. Up next, let’s look at ways to build these relationships - and not at networking events with “Hi, I’m ___” nametags and bad appetizers.

No matter how you look at it, relationships are the key to entrepreneurial success.

NETWORKING The Norm

Ah, networking. I know, I know - just the word can bring on crazy levels of stress and anxiety. If the idea of walking into a room packed with strangers armed with nothing but a name tag makes you wanna run the other way, we got you. There are so many other (and far more effective) ways to network that don’t involve dragging yourself to a million tired happy hours.

"Know where you want to go and make sure the right people know about it."

-Meredith Mahoney

GROUNDWORK

Disruptive pitching

GROUNDWORK

EXPERIENTIAL PRESENT AT ION S

THE ART OF Your Pitch

as an Experience

LEVERAGING CULTURE

GROUNDWORK

NOT ALL MENTORS

THE GROUNDWORK TEAM

GROUNDWORK