WHAT MAKES A PASSION PROJECT

PASSION PROJECT: THE UPSTART BUSINESS

The traits that make a HNW want to get involved. These are Wingman definitions, our rules, it’s a guide not an absolute, its the reasons we see individuals wanting to back something different:

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1} “A business of humble origin that attains sudden wealth, power, or importance, especially one made immodest or presumptuous by the change; a parvenu”

2} An upstart is not a startup (our definition is a startup is a business that has recently begun operation)

3} An upstart has a history, beyond minimum viable product stage

4} A proven product / service that has been validated by strong sales

5} A product you’d personally be happy to buy / use (if you don’t buy into it how do you expect others to)

6} The Management team are people that inspire you and you want to work with

7} “Suddenly raised to a position of consequence”. An upstart business voice is heard in its industry

8} It’s non-traditional. Its product/ service does not follow its industry-norms

9} It has developed a strong community of brand advocates/ champions

10} The company has an interesting story to tell. Not just its story of growth, but people, brand and business that’s unique   

11} The founders/ owners / Snr staff are passionate about their product or service. They are driven by pushing the offering on. They have a relentless pursuit of improving their output

12} There is a progressive mindset across the company (or a willingness to put progress at the heart of the company)

13} Potential for venture capital financing or has received Series A Round funding

14} Opportunities to scale their offering. They may already be in multiple markets, but there is the opportunity to scale quickly

15} Management are ready to accelerate growth

16} The company is driven by challenging the status quo

17} Unencumbered decision-making allowing the ability to take risks

18} Exciting ideas for future expansion

19} The ambition to always be one step ahead of the competition

20} They are looking to build a meaningful brand and company 

Wingmanwhat, Upstart