Building Success Beyond the Hype; Justus Kilian, Space Capital
“Almost overnight you go from telling the story to having to execute against that story. And the only way you do that is by finding exceptional people to work alongside you and turning vision to reality.”
-Justus Kilian
Introducing Justus Kilian, Managing Partner at Space Capital, a venture firm at the forefront of the Tech-Space intersection, boasting a robust portfolio with over $100 million in assets under management. With a steadfast commitment to innovation, Space Capital has joined forces with visionary founders and made strategic investments in break out companies like Rocket Lab and SpaceX.
Space Capital's influence extends beyond mere investment. Kilian, and his team, created two distinctive brands within the Space Capital ecosystem: Space Talent and Space Angels. Through Space Talent, they connect talented individuals with career opportunities in space exploration. Meanwhile, Space Angels provides accredited investors with exclusive access to curated ventures, offering a gateway to participate in the burgeoning space economy.
Key Takeaways:
1. You Can’t Outsource Recruiting - It’s the key to your company’s success. The CEO’s role is setting the vision and finding the right people to execute on that vision. 25-50% of a founder’s schedule should be spent recruiting after closing a round. Elon Musk famously interviewed the first 1,000 hires at Tesla.
2. Create a Culture of Ownership. SpaceX gives even their most junior employees ownership within their roles while allowing them to fail fast in order to achieve a high bar of excellence in the final product. Processes are also not scaled until such processes are proven to lead to success.
3. Find Your Dream Mentor. Your biggest mentor is just an outreach away. Start with flattery; share why you admire them. You’d be amazed at how many people will give you 5-10 minutes of their time with a simple outreach.
4. Build a Diverse Team. One of the biggest mistakes in hiring is only hiring within your network because it’s easy and fast. Some of your best hires may come from completely outside your industry, bringing a fresh perspective to your problems. Take the time to find these people and don’t settle for whom you know now.
Topics Covered:
Justus’ background and how he got started in venture capital 01:53
Space Capital’s Thesis 07:42
How Justus Evaluates Startups 13:48
Why they’re playing a central role in helping talent find roles in space through Space Talent 17:07 What makes Justus to invest 22:01
How to nail your first 20 hires 32:32
Diverse teams are the key to success 33:43
Creating a culture of ownership and high bar of excellence 39:09
Major mistakes to avoid in the early days of starting a company 44:06
What Justus did throughout his career to set himself up for success & how he hones his skills 50:18 How to get your dream Mentor 58:53
Favorite book 1:01:00
Parting advice to Founders 1:03:00
