Agency

Turning obstacles into opportunities.

Since joining the venture capital world, I've been reflecting on the key traits that make a great founder. One of these traits, which I've written about before, is latitude: the ability to articulate a clear vision for the future while also understanding the concrete steps needed to get there. Another equally important quality is agency.

Agency is the ability to shape one's environment and create circumstances by proactively influencing events, rather than simply reacting to them. It's about navigating obstacles, pushing forward when the path is unclear, and having the conviction to execute, adapt, and overcome.

One of my favorite questions to ask founders is: "Can you tell me about a situation where you had to rewrite the rules to achieve your goal?" The answers reveal a lot about agency. Do they focus on barriers they couldn't control? Or do they take ownership, find creative solutions, and move forward?

Founders with high agency don't wait for permission or ideal conditions; they act decisively. I remember one founder who exemplified this well. When their initial product launch failed to gain traction, they personally reached out to every early user for feedback. They then spent 48 hours straight recoding core features, resulting in a 10x increase in user retention within a month.

This kind of action is crucial in the unpredictable journey of building a company. Without a road map, founders with agency create their own path, relentlessly pursuing goals despite setbacks. As I evaluate founders, this trait stands out—those with true agency always find a way forward, even as markets shift, teams evolve and plans crumble.

Latitude helps founders envision the future. Agency is what bends reality to make that future happen. In the end, it's not the founders with the perfect plans who succeed, but those who can rewrite the rules.