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In many ways, David Nikzad is living the life that many in the business world dream of at some point. As a venture capitalist and CEO for numerous startups throughout his career, Nikzad puts in the time and effort before putting money on the line for any business. This means having a hand in different projects that ultimately change lives for the better, one innovation at a time.
He has always had a soft spot for startups, and when finding a good idea, he latches on tightly. Now decades into life as a businessman, he continues to stay motivated and hungry as a venture capitalist with new challenges. The idea of a startup company taking off is the top motivator for him, and it brings him back again and again.
Startups: understanding the good and the bad
Every single startup begins extremely optimistically. After all, it is a business like anything else, and no one goes in thinking that their business will fail. The harsh reality is that startup companies do fail way more often than not, but why they fail might not always come down to bad ideas.
One motivating factor for Nikzad in the startup world is finding opportunities held back for reasons that have very little to do with its product. If he finds business opportunities working with those who share a similar passion to see a project through, the chances of putting money up and helping out those startups at a time of need keep Nikzad going.
Each startup provides a brand new challenge in a slightly different field, making what he does exciting to this day. If a startup company can have some success even with limited funding, more freedom to spend wisely and take a few chances here and there can allow an idea to grow into something more. The success rate is not 100%, but more often than not, Nikzad is able to see a lot of projects go through and find success.
Taking over as CEO
As a venture capitalist, there are certain instances where Nikzad latches onto an idea and later becomes the CEO. There is only so much time in the day, so this role is limited to very few opportunities at a time. Being the CEO does have advantages, as it ensures that the project is completely seen through the way he likes it. Not only that, but it gives him more freedom to make necessary changes on the go instead of waiting for clearance.
The approach Nikzad uses as a CEO is to refrain from moving as quickly as possible. Instead, taking calculated risks helps the venture to grow as efficiently as possible. It is always a focus for Nikzad to have a business that is one of the best in that particular industry, not necessarily the first or most cutting edge. He believes that this helps with long-term success instead of quick, empty gains.
Although he has had his hands in many different business ventures throughout the years, Health and wellness related businesses are among his specialties. Currently, what his company Emotional Intelligence Ventures (Ei. Ventures) is working on is a perfect example of that.
Helping out the younger entrepreneur
Every entrepreneur, venture capitalist, or businessman has had help along the way. Nikzad understands this very well, as he would not be where he is today without the help of several people along the way. Now that he has decades of experience in business and startup roles, he values taking on a mentorship role in some capacity. Who he mentors becomes part of a selection process itself, as he wants to work with those who share similar values and a strong long-term outlook.
In fact, part of the evolution of Nikzad is taking on mentorship roles instead of a more formal role (like CEO) with a startup company. This allows for a more focused amount of time spent on each project, ensuring that his services are not spread too thinly. By having his hands in a bunch of different projects at once, there is time for new opportunities popping up as well. When working with businesses that already have solid leadership, there is less of a need for him to be hands-on. A mentorship role helping occasionally makes more sense.
One eye on what the future holds
There might be times that Nikzad, or any venture capitalist for that matter, thinks about stepping away from it all. However, with an eye on the next thing at all times, something interesting might be down the road. That is what motivates Nikzad right now, and it is likely what the future holds for him in general.
Startup companies are popping up all over the place, and it is becoming harder and harder to find those truly special ones that benefit from a helping hand in some capacity. Having the level of success Nikzad has achieved allows him to be very choosy on what projects he picks and which ones he ignores.
Life as a venture capitalist means no one knows what industry David Nikzad will become involved in down the road. Right now, Ei. Ventures is a very important part of his day-to-day life, as he is hoping to bring psychedelic medicine to the masses in the United States and Canada once regulations change.
His knowledge in many different areas will always open up new opportunities. As for now, his focus is growing all new ventures and seeing what changes are possible with the right combination of innovation and funding.
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This content is brought to you by Jeremy Biberdorf.
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