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Find Solutions That Live Beyond You

Business leaders Anthony Katz and Dan Gluck offer insights for entrepreneurs and investors on what it takes to build a business with staying power.
Sep 1, 2023  |  5 minute read
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Side-by-side images of Anthony Katz and Dan Gluck speaking at an event. Anthony Katz wears a black sweater and listens attentively, while Dan Gluck, dressed in a blue blazer and light blue shirt, looks off to the side with a thoughtful expression.Anthony Katz, left; Dan Gluck, right

Health and wellness is a fiercely competitive yet booming industry. Dan Gluck, managing director of PowerPlant, and Anthony Katz, founder and president of Hyperice, have both built brands in this space and shared their guidance for entrepreneurs and venture capitalists at our At the Helm event.

More Than Brand Power

Dan looks to invest in companies unique in the marketplace that solve problems with efficacious solutions, i.e., products and services. “Very few companies win by relying on brand power alone,” he pointed out. “Solve a problem, and build a powerful brand, and that will increase your probability of success ten-fold.”

Infuse Your Goals With Purpose

An ideal solution is one that lives beyond you, meaning it has staying power. Anthony explained he didn’t build a business just to build a business and make a living; he saw his life’s work as making a lasting change and impact in an area he was passionate about. This philosophy of purpose drove his entrepreneurial goals, and it’s something every future founder can harness once they have identified what drives them and is most important to them.

However, do not follow your passion so much that you neglect thorough due diligence, Dan noted, and this particularly applies to start-up investors and VCs. “Don’t rely solely on your personal experience with a product or service,” he said. “Seek quantitative feedback from customers and ensure there is a current product-market fit and a large enough total addressable market for future product-market fit.”

Margins Matter

Dan had one final word of caution, which is that early-stage investors often focus more on the secular theme and underplay the importance of future steady-state margins of the business. Without an attractive margin profile, you are simply investing in an idea, not a business. Make sure you are investing in a company with sustainable economics that can eventually sustain itself with free cash flow.  

More Events Insights

This material is intended for educational purposes only and is provided solely on the basis that it will not constitute investment advice and will not form a primary basis for any personal or plan’s investment decisions. While it is based on information believed to be reliable, no warranty is given as to its accuracy or completeness and it should not be relied upon as such. Information and opinions provided herein are as of the date of this material only and are subject to change without notice. Goldman Sachs is not a fiduciary with respect to any person or plan by reason of providing the material herein. Information and opinions expressed by individuals other than Goldman Sachs employees do not necessarily reflect the view of Goldman Sachs. Information and opinions are as of the date of the event and are subject to change without notice.

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