From Buffalo Grit to Billion-Dollar Bets: Jack Dempsey on Venture Capital, Mentorship, and Redefining Leadership
I’m thrilled to share some incredible insights from my latest podcast episode featuring the legendary Jack Dempsey. Jack is a powerhouse in the venture capital and angel investing space, and our conversation was nothing short of inspiring. Here’s a sneak peek into what we discussed:
Key Takeaways:
1. Jack’s Origin Story:
• From a blue-collar kid in Buffalo, NY, to a senior partner at McKinsey & Company.
• The transformative power of education and mentorship.
2. The Role of an Operating Partner:
• What it means to create value in private equity.
• The diverse responsibilities and impact of an operating partner.
3. Transition to Teaching and Mentoring:
• Jack’s shift from full-time private equity to teaching at the University of Saint Thomas.
• His passion for mentoring at Techstars and supporting the startup community.
4. Investment Philosophy:
• The importance of backing innovative founders and unique business models.
• Why people and their ideas are at the heart of successful investments.
5. Entrepreneurial Education:
• Hands-on learning through real-world projects and market research.
• The rewarding experience of teaching and seeing students launch successful businesses.
6. Mentorship at Techstars:
• The impact of “mentor madness” and accelerating startup growth.
• The importance of leadership coaching alongside business strategy.
7. Personal Insights on Leadership:
• Leadership as a journey of moving people forward together.
• The significance of asking for help and leveraging your network.
• Favorite Business Books:
8. The Definitive Drucker for customer focus and innovation.
• Do More Faster for practical startup lessons.
• Younger Next Year for maintaining mental and physical health.
• Advice for Aspiring Entrepreneurs:
9. The power of networking and nurturing personal relationships.
• Maximizing your return on time and giving back to the community.
• Embracing life as a one-time opportunity to make the most of.
10. Building a Legacy:
• Creating opportunities for others through mentoring and teaching.
• Defining success through family, relationships, and impactful contributions.
Jack’s journey and wisdom are truly inspiring, and I can’t wait for you to hear the full conversation. Tune in to gain valuable insights and be motivated to take your own entrepreneurial journey to the next level.
Listen Now: https://youtu.be/Q1CwuS5_Bm0
Stay curious and keep innovating!
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Jack Dempsey
Mentor/Investor/Educator/HypeMan
Jack is a blue collar kid from Buffalo, NY, oldest of seven children and the first in his family to graduate from college. After graduating from Canisius University and spending two years at Chase Manhattan Bank, he got his MBA from the Wharton School of Business.
He spent 18 years and rose to Senior Partner at McKinsey &Co.; then worked as a senior executive at water equipment company Pentair Inc.
He is current very active in the Minnesota entrepreneurial ecosystem, including the following
- active angel and venture capital investor
- mentor for startup founders/team and Mentor-In-Residence at Techstars
- Adjunct Professor at the University of St. Thomas, where he serves as the Schulze Executive Fellow for Entrepreneurial Practice
- Operating Advisor at private equity firm Norwest Equity Partners
Jack has served on half a dozen non profit Boards, and he and his wife Claire have three kids and two dogs. He enjoys time with friends and boating on the lake, fishing occasionally and continuously working on his golf game.