This Month’s Philosopher: Katie Ellias, WG'06
To learn more about Katie, click here.
LIFE LESSONS
If I knew then what I know now, I would have...
relaxed about the idea that you need a specific and detailed career plan to be successful. From early on, I felt self-conscious when others would describe their five, ten, or twenty year “plans.” I could imagine certain scenarios playing out over time, but I struggled with the idea of what I wanted to do or be far (or not so far) into the future. Over time, I’ve embraced a new philosophy that feels more authentic for me and hasn’t let me down – follow the interesting work and the inspiring people, and it will bring you great learning, leaving you continually energized about what you do. I never would have predicted I’d end up in venture capital for over a decade and counting, or live in Europe 12 years, but following the thread of being opportunistic and being a student of others has taken me on an unforgettable and rewarding journey. Be open to life’s adventures, even if they don’t fit your “plan.”
If I knew then what I know now, I would NOT have...
focused as much on my weaknesses as on my strengths. We spend a lot of time in our academic (and sometimes work) lives overemphasizing the areas where we are struggling or less apt. Playing to your strengths and identifying what you can uniquely do best or how you can add differentiated value, will bring rewards. The same discipline applies to a venture portfolio: the “problem children” aren’t usually the ones with the big returns, so prioritize your energy and capital on the winners, even if that is a painful exercise in the moment. I continue to fight the ingrained urge that we all are supposed to be perfectly well-rounded, or every project deserves equal attention, but we deliver our best to our teams and organizations when we figure out how to leverage our superpowers in ways that others can’t and figure out who can take care of the rest. It can take a while to get comfortable thinking of yourself as having unique talents, but recognizing how to put yourself in situations where you can bring your best self, and allow others to do the same, is critical.
FAVORITE QUOTES
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“Hope is not a strategy.” ~ Unknown
Spending time to break down how you can achieve your goals into discrete steps is critical to understanding risks and developing balanced and targeted plans. It is important to go through the exercise of understanding what information, or motivations and beliefs, will lead you to your desired outcomes, and what incentives or elements you might have overlooked.
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“In God we trust; the rest must bring data.” ~ W. Edwards Deming
Early in my venture career, another Wharton alum, partner, and mentor of mine, Antoine Papiernik, President of Sofinnova Partners, said this frequently during our diligence process. For me, it speaks both to the key of challenging your assumptions and keeping yourself grounded in the facts when you analyze an opportunity. People talk about investors using their “gut.” I believe your gut begins to emerge after years of detailed analysis of companies and industries, and it is more pattern recognition than instinct.
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“What’s the magic word?” ~ All parents everywhere
There can never be enough kindness and compassion in the world. Relationships and human interactions have a huge impact on what we can all achieve. There are people behind every action and decision, and we all deserve respect and understanding for our efforts.
RECOMMENDED READING
- Complications by Atul Gawande (or really anything by Atul…)
- Genome: The Autobiography of a Species in 23 Chapters by Matt Ridley from 2006 (lay-friendly explanation of our genes and how and why they work; even if slightly outdated, still a great read)
- Third Culture Kids 3rd Edition: Growing up among worlds by Ruth Van Reken, Michael Pollock, and David Pollock (handy for bringing up or working with people with mixed cultural backgrounds)
Contact Katie at: [email protected]