Venture Business: B2B vs Consumer

In the venture business, it is advised to focus on B2B for consistent, incremental returns (singles and doubles) and consumer for high-risk, high-reward opportunities (home runs). Managing partners suggest balancing the portfolio with this in mind. While historically B2B meant singles and doubles, some B2B ventures now yield home run valuations. B2B offers the advantage of direct customer feedback for decision-making. Consumer business, on the other hand, requires a careful interpretation of customer actions rather than relying solely on what they say, as actions can differ from words and what works in practice may not align with verbal feedback.

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