On the TechTO stage ×2
What Canadian VCs Actually Look For
Watch on YouTube ↗
The Secrets of Success | Janet Bannister Kijiji Founder, & Managing Partner at Staircase Ventures
Watch on YouTube ↗First seen on the TechTO stage in 2023. Every talk is searchable — ask the archive about Janet ↗
Also on the stage ×1
Panels and roundups Janet appeared on.
In their words
We have extremely high expectations of our founders, but we have the support systems in place to help them achieve those very high expectations.
I find the biggest thing that founders miss is the long-term competitive advantage. They think of why their business is going to win today and don't spend enough time explaining why they are going to win for the next 10 years.
You think about this business 24/7. Nobody else thinks about this business or cares about this business as much as you. Nobody spends as much time with your customers and with your team.
it's not who you know, or what school you went to, but it's about creating your own opportunities and being very persistent and thoughtful about how you go about creating those opportunities for yourself
every time we get a bunch of smart MBAs in a room, we inevitably make the wrong decision. But when we listen to our customers and let them drive our direction, we always make the right decision
life is bigger than your career and I tend to do things that I really feel passionate about
More from TechTO ×3
Around the web ×4
Quick answers
What does Janet Bannister invest in at Staircase Ventures?
Seed-stage business-to-business software companies. People assume she backs consumer startups because she worked at eBay in its early days, but Staircase invests only in B2B. She reads every email she gets and looks for a differentiated, unique perspective on an industry, like a Calgary company applying AI to a specific area of oil and gas.
How does Staircase Ventures support founders?
Janet sets aside 20 percent of the fund's GP carry for its founders and advisors, and pays for a founder growth platform: executive coaching, support groups, confidential health and wellness counselling through Cleveland Clinic, family care, and personal financial advice. She pairs extremely high expectations with those supports, plus a tight founder community with in-person gatherings, calls every other week, and an active Slack channel.
How much traction does she expect before investing?
She weighs three pillars, idea, team, and traction, and says you need to be really strong on at least two. A huge vision with an amazing team needs less traction; a less proven team needs more. She calls revenue a proxy, caring instead whether customers pay for, use, and get ROI from the product, along with sales cycle, expansion, and engagement.