In the traditional hiring world, one can easily confuse the word “scouting” with the word “recruitment” – and in many cases, one can function like the other. In the same vein, however, the power of a true scout is lost in the mental imagery of binoculars and fire-making. But the word “Scout” is so much more powerful than merely “exploring in order to obtain information or finding by making a search”, as our dictionaries like to explain.
When it comes to corporate venturing, and corporate venture investment, the ability to recognise, interpret and identify opportunity becomes one of, if not, the, most important skills – especially when that ability is what determines the fundamental structure upon which your growth strategy is built, or the golden ticket that will see you out live your competition. So, why is that relevant here?
CFPro Ventures bridges the gap between businesses who are ready to grow, and the investor community. But it works the other way too. For corporate organisations who are facing pressures to innovate, grow or even to merely diversify, CFPro Ventures bridges that gap too through acting as scouts for future revenue streams, like investment opportunities, new technology acquisitions and more, and then develop these companies in our incubator.
Which is why, when it comes to the rapid rate of development of new technologies, engaging with new opportunities quickly, is paramount to keeping you ahead of the trend.
A good scout knows their field.
What’s the reason for deciding to use a talent scout? Simple – because they have access to talent areas which you may not have. Their foundation is rooted in the same market that they new peruse for new talent. They understand the trends, and fluctuations, they understand the weak points, and more importantly, they understand the long-term goals of the players. In the investment world, high-growth businesses have a vision – they want to grow, and they’re ripe and ready for the best opportunty to do that. But most, if not all, business leaders have their own agenda too. Whether they plan to exit, or plan to grow within their organisation, they have a long-term vision of what they want to achieve. The traits of a good scout means that they are not only able to recognise that vision, but already have a solution to helping them achieve their. And if your organisation is open, and ready, and receptive towards that vision, then your investment, and the partnership you’re about to enter into with your new acquisition or investment, is so much more stronger.
A good scout is the first port of call for anyone that wants to make a change
There is a great story about a top sales director at a leading global e-commerce brand who regularly scheduled meetings with representatives from competitors at industry trade shows. When asked about these potentially awkward, and often confrontational, meetings, his response was, “I know every top performer at our competitors and when one of them wants to make a change, I want to be the first one they call.” In the investment world, that is no different. Technology is being born overnight. Entrepreneurs are creating new businesses by the truckloads – new ideas are being born all the time – and unless you understand the world of startup and innovation, and are truly embedded in what’s happening within the field, identifying an opportunity early would simply pass you by, and onto your competitor.
A good scout focusses on scouting for the future
Scouting talent for your team, or your organisation, is a future-focussed activity. After all, isn’t that why you are looking to invest in a business that offers something you don’t currently have? Whether it be new technology, or a footing into a new market, the business of corporate venturing looks towards changing something now, to become ready for tomorrow. The definition of a good scout, therefore, is someone who understands that need for change, and already has opportunity lined up that will deliver exactly what you’re looking for.
A good scout understands the importance of a good culture fit
We recently published a blog post about the importance of finding a funding partner that shares the vision of the SME, to deliver a mutually-shared impact. And part and parcel to that is finding the best cultural fit. Just the same with traditional recruitment methods, placing a traditional candidate who requires structure, rigidity and process in an environment that thrives on spontaneity and a loosened approach to structure may not be the right fit for either parties – the individual, or the business. And when it comes to socially responsible incentives, both parties are looking for authenticity in the way their business lives and practices their own personal visions. Matching up the right funding with the right acquisition or funding opportunity is critical – and that’s when the qualities of a good scout outperform the rest. They are either able to recognise the best fit, or, are able to interpret the desired future potential of both parties, and are able to match organisations together who share compatibilities that drive cultural change, and revenue growth.
CFPro Ventures has been working with high-growth startups, and the larger corporate worlds for many years. We understand the driving factors that both require to be successful. But there’s something about us that makes us different. We help organisations who are looking to invest in smaller, high-growth businesses by acting as scouts for future revenue streams, but we also then develop these companies in our incubator – through providing an array of operational infrastructure services that prepare them, and support them throughout, for new growth opportunities.
Are you looking for your next investment opportunity? Get in touch with us today.