Today, Synapse is excited to announce are participation in the Transportation Security Administration Innovative Task Force’s IDEA program.  As part of this program, TSA is deploying Synapse’s Syntech ONE technology at passenger screening checkpoint at Phoenix Sky Harbor and Las Vegas McCarren International airports.  Syntech ONE will be used to screen real passenger carry-on items and providing automated detection of key prohibited items and weapons.  Here is a link to today’s press release on the program.

https://www.prweb.com/releases/syntech_one_demonstrates_at_two_u_s_airports/prweb16530216.htm

On this Yom Kippur reflection, I wanted to share some basic thoughts to a happier and healthy life.

First, be grateful for every day on this magical plant.  We all know family, friends, neighbors, soldiers who have left this world far too young.   You have a finite number of days, so be kind and make them count.

Second, love.  Love your family.  Love your neighbor.  Love your enemy.   Because it is only through love that we will find peace.

Third, health.  It’s more important than wealth, so focus on it.  You are not going to die tomorrow, but let us all try and make better decisions each day and hopefully, you realize what makes you feel good.

Fourth, balance. This is the one I personally struggle with the most.  Everyone wants to have fun and feel good, but you can’t party every day.  If you have a big weekend, then have a big week of eating healthy, going to the gym or enjoying your favorite class (yoga, cross fit, pilates, barre, boot camp, etc)

Fifth, mindfulness. For me, this means making sure every day I step on a yoga mat and play my Native Indian flute.  This allows me to have a daily practice of meditation, breathing, alignment, and stillness.

So there you have it.  Some five simple words that help me be a happier and healthier Brad.

Much love and hugs.

Scout Ventures is looking for a rock star associate to join our team. This is an exciting and unique opportunity to work directly with the investment team and become intimately involved in the day-to-day operations of the firm. The position will have exposure to the entire deal process from origination and due-diligence through deal structuring and post-investment portfolio management. The ideal candidate is an independent thinking, self-starting, scrappy hustler who has superior analytical skills and is well organized. This is someone who has 2-3 years of experience ideally in a startup, consulting firm, investment bank or other venture firms. Compensation will depend on the specific person and their experience, but will certainly be market competitive.

Candidate Responsibilities Include:

• Identify and research new markets and technologies
• Work with the Investment team to identify and develop an investment thesis
• Identify top investment prospects
• Model financials and cap tables
• Contribute to due diligence processes (e.g. industry research, market mapping/sizing, financial analysis, and other data gathering). Synthesize information to draft investment memorandums
• Update and maintain proprietary investment software system and database
• Assist in the execution of critical back‐office infrastructure projects

Ideal candidates should have the following characteristics:

• Entrepreneurial and positive personality, including comfort working in both structured and unstructured environments
• Highly motivated, self-starter with the ability to work both independently and within a team context
• Excellent written and oral communication skills
• Strong core analytic toolset; financial analysis and modeling skills, and the ability to interpret data and provide relevant insights
• A desire to learn and ability to think outside the box
• Strong interpersonal and organizational skills, and ability to manage multiple task and priorities concurrently
• Exceptional analytical and critical thinking skills
• Proven ability to self-motivate and direct your own work
• Demonstrated passion for technology and innovation

This is a two to three-year role with potential career track for exceptional candidates.

Interested candidates should send CVs and cover letters to jobs@scoutventures.com

Please join us in congratulating Brad Harrison on making the Forbes List of Top 50 Angel Investors. We are grateful and honored for the recognition and all of your support.

Here is a link to the Forbes article if you would like to see the full list.

According to Mr. Parsons, the most important thing when building a business is partnering with the right folks – those that are complementary to you and are your “kind of folks.” If they are not your kind of folks or you don’t feed off each other, then work becomes a drag.

He then highlights the importance of focusing on setting the right “culture tone” – i.e. remind your team of the culture you are building and don’t just take charge, do what is right.

 

 

Mr. Parsons reminds us that a concerted effort far outweighs individual ones and that it is important to surround yourself with a great team of those that think with reason.

That’s it for our newest series, “An Interview with Richard Parsons”!

Thanks for following along and enjoy the rest of the content to come!

In today’s video, Mr. Parsons reminds us of the importance of perspective when evaluating success.

To oversimplify things, for an investor, this means high performance and the great returns for your LPs. However, as an entrepreneur or on a personal level, this means introspection and building a company that focuses on the right values for the entire organization.

 

Stay tuned for EP8!

As an investor in Scout, Mr. Parsons highlights three main attributes of successful early-stage investors:

1. Discipline
2. Teamwork – motivate and inspire people
3. Patience – to let it play out in real time

 

 

EP7 on its way!

Having served on the Board of some of the most prominent Fortune 100 companies, Mr. Parsons sheds some light on what makes a good Board member.

When Mr. Parsons would recruit for boards, he looked for someone “available to reason.” Meaning someone who listens and evaluates a proposition and has a thoughtful course of action in response to the issue at hand.

 

 

Mr. Parsons also points out:

1. Board members have to be collaborative as a concerted effort outperforms individual efforts when advising a company.
2. The board is a CEOs only natural predator if you don’t have some kind of accommodation with them

Stay tuned for EP6.

 

 

 

There are four main pitfalls entrepreneurs need to be wary of when launching a new venture. Here Brad highlights the four major pitfalls:

1. Bad critical hire in the beginning
2. Bad early investor
3. Bad anchor client
4. Running out of capital

 

 

For Dick, effective cash flow management is priority number one and hiring a bad early employee can stunt growth or completely jeopardize the company. He also reminds us of the importance of understanding the market you play in.

EP5 set to release next week.

In today’s post, Richard Parsons outlines the key difference in Scout Venture’s approach to investing that sets Scout aside from its competitors: the ability to proactively coach companies through the ups and downs of the startup journey.

As Dick mentions, early-stage venture investors have to bring something extra to the table and Scout does just that with the ability to not only focus on entrepreneurs with drive / “moxie,” but also provide management guidance.

Stay tuned for E4 next week.