Ep203 Dar'shun Kendrick - From Vision to Millions: A Legal Expert's Guide to Attracting Investors

Dar'shun Kendrick 0:00

What I do? I do well, what I don't do? Well I don't do. I outsource it. I bred team member. I concentrate on the core things that are going to grow and scale my business that I'm very, very good at.

Mike O'Neill 0:13

Welcome to get unstuck and on target. The weekly podcast that offers senior leaders insights and strategies to not only lead with confidence and vision, but also to achieve ground breaking results. I'm your host, Mike O'Neill. I coach top level executives on the power of ethical leadership to forge teams to be as united as they are effective in each episode, join me for insightful conversations with leaders just like you, providing practical advice to help you get unstuck and propel you and your company forward. Let's get started. Welcome to get unstuck and on target. I'm Mike O'Neill, and today we're exploring a conversation that will reshape your view of leadership and potential. Each week, I engage with inspiring individuals who have redefined success. Today's guest Darshan Kendrick exemplifies this transformation. As an executive coach, I seek conversations that inspire us to rethink what's possible, and my meeting with Darshan was no exception. Darshan is not just a lawyer or a legislator. She's a catalyst for change. Her ambitious goal of creating 100 millionaires by 2032 serves as a blueprint for systemic transformation in the next half hour or so, we will unpack the mindsets and strategies that distinguish exceptional leadership from the ordinary. So grab a coffee, settle in and prepare to challenge your understanding of success and impact. Let's get unstuck and on target. Joining me today is Darshan kentric. She's a powerhouse at the intersection of law, finance and business. As the founder of kairos capital legal advisors, she has helped raise billions in private investment funds, and she specializes in venture capital, private offerings. And M and A Darshan is also on a mission to create 100 new millionaires by 2032 and to share her expertise, she has published yet another book. It's entitled closer to a yes, the founder's guide to getting noticed by investors. And if all of that wasn't impressive enough, she's been a distinguished member of the Georgia House of Representatives since 2010

Mike O'Neill 2:45

Welcome Darshan.

Dar'shun Kendrick

Thank you so much for having me, and thank you to your audience that's listening.

Mike O'Neill 2:52

Darshan. When we spoke prior to scheduling this, there were several things that we could actually talk about. You have expertise in a number of areas. But what I did not really share is the fact that you speak, you are a keynote speaker, and I know you could speak on a variety of topics, but if a group says, come in and just speak from your heart, what topic kind of just jumps to mind, and you would speak on that topic,

Dar'shun Kendrick 3:22

probably leadership, obviously, because of the several roles that I have had and I've been involved in leadership ever since a very, very young age, I feel like I have something to say about the mistakes that I made on leadership so that hopefully people don't Repeat those same mistakes. So I could talk about leadership at the drop of a dime.

Mike O'Neill 3:44

What is it about leadership that just kind of jumps to front of mind? You said that you assume some leadership roles at a very early age. What is about leadership that seems so powerful and influence kind of you and what you do for your clients and constituents?

Dar'shun Kendrick 4:02

Well, I think leadership is one of those things where we think leadership is only reserved for certain people, like you're born with it, or you have a title, or maybe you you're in a certain status in a company or organization, but leadership should be a part of everyone's personal and professional development, no matter where you are. And so I think it's one of those understated sort of quality traits that people think they're not qualified for, that they don't need it, but really and truly, it should incorporate into every area of of our lives. So

Mike O'Neill 4:38

you're stressing the importance that everybody, regardless of their roles, to be thinking along those lines. Why do, in your opinion, do people just assume that doesn't apply to them? A

Dar'shun Kendrick 4:51

few things, they think that they don't have the title, right? I have to have a certain title in order to be a leader or I. Have to have a certain status. Maybe it's a socioemic status, maybe it's a status in business, maybe it is making a certain amount of money, but that is not what leadership is. In my opinion, leadership is more about self development than it is about sort of who it is that's following you. Obviously, you, you, you need followers some point. But the point of leadership can not only be on a professional level with organizations, but I really do believe personal leadership is really, really key to growing and people realizing their dreams

Mike O'Neill 5:42

as leaders. Leader faces challenges. Let's talk a little bit about in the context of raising capital. In your experience, what is one of the biggest challenges that leaders face trying to attract capital?

Dar'shun Kendrick 6:00

One of the biggest challenges leaders face in attracting capital, really, is understanding from the investor standpoint what they're looking for. So a lot of times, people think, Okay, I got this great product. I have this great service. If I build it, they will come right. But nothing can be further for the truth. Do you? Do you need a good product or service? Yes, but that's one aspect of what investors are looking for when they are looking to invest into a company and a brand. And so having that really myopic view of I got to get this perfect product out. I had to get this perfect service out really narrows your vision of how to become attractive to investors. Who's looking, who are looking at 20 or more factors, or MVP, or most viable product, as we call it, is only one aspect of what they're looking at. They're looking at the team. They're looking at how you scale. They're looking at your financials. It's all these things they're looking at. So the whole adage of, if I build it, they will come, is just it's just not true.

Mike O'Neill 7:10

So you're encouraging us as listeners to be mindful. If you want to do what is it we're talking about, you need to be mindful. There are so many factors beyond just a superior product or superior service, when you are able to get that idea across to folks, what happens when they begin to get it? What happens in their minds that might change the outcome of what they're wanting to do?

Dar'shun Kendrick 7:38

Well, usually when founders come to me and they they it clicks and they understand that their great product or service is only one part of this larger picture, then I think they really get a reality check about the people that they they need to invite in in order to have that holistic picture right? Because you need your team of experts, and sort of, that's where my law firm comes in from our coaching services, is because we want to make sure that they have a team around them that has an expertise that's going to be able to fill in the marketing, that's going to be able to fill in the financial, that's going to be able to fill in little team. And so once they get their that realization, I think then they understand, okay, there are gaps in my plan. Let me get with someone, hopefully us, in order to fill in those gaps so that I am investor ready on day one by filling in those gaps with people who can bring in, you know, the different parts that we're missing as a part of this capital raising process.

Mike O'Neill 8:43

So Darshan, what you've shared as part of this process is surround yourself with the right team that can help navigate the process. But you also made reference to when you begin having conversations with potential investors, these are high stakes conversations. Do you find that sometimes that these founders might struggle with a sense of self confidence on how to have those type of high stakes conversations?

Dar'shun Kendrick 9:15

You know, most of the founders that we, that we do work with are either repeat entrepreneurs or they're pretty far along, sort of in their in their development. So I wouldn't say they they don't know how to have, like the hard conversations. What they what they don't know is sort of how to lead up to get those conversations, and then what to do after those conversations, that's that's most of the problem is the lead up, and it's the follow up, and in between is the, you know, cautionary tale I have to say, don't say that to an investor. Don't say that to an investor. So in terms of the actual conversations they're having, I. I give them, you know, sort of the conversations, or what they should not be saying, but most of it is going to be the before and after conversation with the founders we work with.

Mike O'Neill 10:11

I got you so you'd mentioned the word repeat entrepreneurs or serial entrepreneurs. I love having entrepreneurs on this podcast. I come out of a corporate background, and entrepreneurship is something that it's just as I've gotten to understand, what does it take to be successful? There's so much more, and my appreciation for what that takes. You mentioned that a number of the folks that you work with, this is not their first rodeo. They've done this before. What do you find are qualities that result in people becoming effective, successful, serial entrepreneurs?

Dar'shun Kendrick 10:52

Oh, man, how. How long do we have? The first one is that they fail fast. As a matter of fact, I think that's going to be my third book. Is going to be called Fail fast, because that, and that's a whole leadership lesson about failing and failing gracefully and fast. But so that's the number one trait that I see out of them. They see something's not working, and they're able to pit it right. The second thing is that they learn for from those those failures. So it's not about giving up. You're only a failure if you give up, they learn from those failures. And so the next business, you know that they have, they learn from those failures in the in the previous business, even if the overall bit previous business was successful, yeah, they learned has made mistakes and learned something, right or should learn something. And probably the last thing that entrepreneurs have, and this, this is what I would put at the top of the list, is resilience and persistence. 100% people ask me all the time, what is the secret to a successful business? And this is very, very simple for me, they never give up. That's that's the common thread out of every successful business, right? Nobody can deny that if you're a successful business, you never gave up. That's the number one secret. And so these repeat entrepreneurs are just resilient. They persist and and making sure that they get things done and that they're able to go on to their next venture. So those are the top three things that I that I noticed from serial owners.

Mike O'Neill 12:28

Yeah, I think that dovetails very nicely to your aspiration to help create 100 new millionaires by 2032 Tell me one more about that. What did that concept come from.

Dar'shun Kendrick 12:43

Well, my my back story is that I was raised by both of my parents, entrepreneurs, and I lived through lots of years in my childhood seeing them not being able to get access to people who look like us, that were that cared about their small business, small the growing business access to capital. And so I decided to go to law school and really focus on corporate law. And as I got more into the investment space, because I am an investment advisor as well, I learned that there are several avenues to get to millionaire space, right? But entrepreneurship really is the one that I don't think people realize can really scale you in terms of generational wealth as well. And so I said, you know, particularly for my community, the black community, that is lagging behind so much in terms of the wealth gap, it's now a wealth cannon after after COVID, I said, What can I do? What special gifts, talents do I have to make a difference in my community? And so I came up with a personal and professional mission on creating, not only as many millionaires as possible, but really getting laser focused on creating 100 millionaires by 2032 either through my law firm or through my investment advisory firm or any outside activities that I may have. So that's the goal. Is to create those 100 millionaires, and particularly, I want a lot of them to look like and reflect the community that I grew up in.

Mike O'Neill 14:21

You know this number 100 it strikes me as that's a pretty lofty ambition. Does that kind of reflect you? Or do you set high expectations for yourself, for your team?

Dar'shun Kendrick 14:34

I do. I am my biggest critic, and I just know that I would much rather set a lofty goal than to aim low and hit it. I would much rather set a goal and miss so get come close than to set my standards so low that I hit it. I am just one of those people that believe. That people can and will rise to the occasion that you give them. And so I do the same with myself. I believe that I will rise to that standard if I give myself that deadline and that lofty goal.

Mike O'Neill 15:14

So do me a favor. We're recording this in December of 24 we're talking about a goal that would hit in 2032 imagine it's it's New Year's Day at 2033 and you've hit this goal. In what ways does that speak to a inner need on your part, and a desire to make a difference in the world.

Dar'shun Kendrick 15:47

I think that really speaks to how I was raised. My parents, who have been married for 42 years and are the cutest couple ever, really raised me to understand that the opportunities and gifts and talents that I have been given are not for myself, and that I have an obligation. An obligation is the word that my mom would use. I have an obligation to not keep it to myself, and so that really would cause me to reflect on how blessed I was to have the parents that I had, and it would cause me to set another goal, because I am always stretching myself and learning and trying to get to that level. So for me, it would be a bittersweet moment where I could just reflect on my childhood again, focus on my why, because my why keeps me going when days get hard and continue to set goals one after the other until the day of my last breath.

Mike O'Neill 16:55

What's unusual about you as a guest? You're the first, I think first elected official that I brought on to the podcast, but you come to this role, first as a successful business leader. Help Help us understand you have served both as a business leader and a legislator. How has your experience in government shaped the way you approach leadership, business coaching and capital strategy.

Dar'shun Kendrick 17:27

Well, I am lucky in that I get to focus on policy work that I really care about, and the policy work I really care about is entrepreneurship and capital raising. So that is, that is my space, that is my brand. Anytime there's anything related to entrepreneurship, technology or capital raising, I'm the first person that people think about, particularly because I've been down there, been elected for so long. So for me, it allows me as a policy maker, because we get access to so much not knowing public information, we just get access to public information sort of in a comprehensive, consistent and sort of well formulated way that other people don't. And so I'm able to take that knowledge, and for the people that I work with say, did you know about this? Right? It's not that the information is private or anything. It's just, we get access to the information, maybe, you know, in a way that other people in the public would not get access to it. So we know a lot of things, and so that is just a value add. For me, it's just using my position in order to better not only clients, but people who follow me on social media, because a lot of times, as I get information, I share it that people don't know about. So it's just a value add as a person and as a professional, being an elected official, that I get to share a good information and things with people.

Mike O'Neill 19:04

I appreciate that. You know, we've been talking a little bit about your you're wearing multiple hats. I want to ask you to put your hat back on as a an advisor, and that is, you're working with clients who sometimes get stuck when they're trying to secure capital. How have you found ways to help them get unstuck?

Unknown Speaker 19:30

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Dar'shun Kendrick 19:33

few ways. So one of the ways that I do it is I tell them, you know, I will call them and say, you know, let's just take some time to just breathe in and breathe out. Because raising capital is a marathon. You are on a gerbil wheel doing this right. Sometimes, when you're doing that, as we say in the law, you're missing the. Forest because of the trees. So caught up in the details of doing this, I'm like this, let's just, let's just take a day and let's just clear our mind, right? Yes, and once we do that, then we can go back to basics. Why are you doing the raise? Who you know? Who are you marketing? What was your original plan? Because I think sometimes in in life and in business, we just have to reset. And until we reset, we get it, we get on this gerbil wheel, and we can't and we can't see things sort of big picture, because we get so caught up in the in the micro things. So that helps a lot. It's just stepping back and take time to reflect on the bigger picture, as opposed to the micro. But really, the second thing that I advise clients to do is to assess what is your plan in order to seek out investors. Because in business, I have learned, which is one of the reasons why my practice is so niche, so very, very niche, is because it allows me to for my marketing and my content and my focus on a particular ideal client. I don't focus it on entrepreneurs like that's not the focus on my business. I only work with entrepreneurs who are looking to raise capital from investors within the next 12 months. Like it's very specific. And so for our and so for clients, I say you got laser focused picture in your mind, the ideal avatar of the ideal investor, all the way down to what they're wearing. What are they wearing? What are they drinking? What are they hanging out. Okay? Because if you haven't found yourself getting stuck in terms of getting deals to come to you and getting investors to respond back, you have to ask yourself, are you brought casting your net to why, and we can cast your net to why for investors, and don't get laser focused on your ideal investor. What ends up happening is you're spending 10 hours over here at an at a meeting that's not going to lead to any you're going to spend five hours on the phone that's not going to going to lead to anything. Investors are very specific in who and what they want to invest in and and you can't change their mind. So there's no point in a technology company pitching to a real estate group like that doesn't make sense. So you have to get laser focused on who investor is, so once you've taken that time and sort of saw the bigger picture, now we need to reimagine the ideal as to, what do they look like? What do they smell like? I mean, it's all these little things that gets a visual in the mind of the founder, so they can get laser focused on how to spend their energy, time and resources. So those are just two things that usually work very well. Well,

Mike O'Neill 22:58

those are two very complimentary things I've understood you correctly. You as a founder, have decided I want to be very, very focused on the niche, who our clients are, and by extension, when you're working with your clients, you're reminding them that what you have will be interested by a very specific set, don't waste your time going after them. So that laser, like focus that you kind of made reference to, it sounds like that has served you and your clients. Well,

Dar'shun Kendrick 23:33

it had, it has. I am a big believer in sort of Adam Smith's Wealth, Wealth of Nations, which is specialization really is going to be the wave of the future. Well, it is now, actually, and so, particularly when it comes to most of my clients are tech clients, I think that is going to be key. But even in an in the practice, there is going to be a need to not be a generalist and to be very, very specific. And so luckily, I've been able to do that, and I love the work that I do.

Mike O'Neill 24:08

Can we go back to your role as a founder? You have created a business that's very niched. You have built a team. I've already bragged on one of your team members, Latoya, my interactions with her. She's very much on top of she kept me focused on what we need to do. We have a certain time and place we're going to be recording this episode. What do you look for when you're building your team within your own firm?

Dar'shun Kendrick 24:36

First and foremost, I look to character. So my saying, It's not my saying, but I agree with the saying that somebody else said, which is, I hire for character and I train for skill. So skill set is very I'm not going to say is not important, but for somebody who you know. Uh, didn't graduate from with honor, somebody who doesn't have the highest GPA that that doesn't matter to me. What matters to me is, um, do you have the character of always improving yourself? If, if you have that character trait, you're trainable. And that means, when things happen and we have a conversation about what you can do better. You're going to learn it. I will hire character over skill every single day. And so I'm always looking for character traits of somebody who is wise to understand what they know and what they don't know and accept that somebody who has integrity, because at the end of the day, I am responsible for for team members and the way that we treat the world, and I want our our brand, to be one of a firm that has integrity. And then third character trait really is somebody who is, who is, is flexible. So somebody who is really, really open to being, being flexible, not only with my schedule, but also with the different tools that I introduce with the firm, because I'm always growing and changing and and doing all these different things. So if you have a character, one in which you you can adjust, and you can make those, those changes when you know when the pressure hits, then those are the things that I that I look for

Mike O'Neill 26:36

as routine. Listeners know there is no script to what we're following here. So I threw that out to you. Handled that very well. I heard wisdom, integrity and flexibility as being very, very key in that you hire for those qualities, even more than skill. You know, as you kind of reflect on this conversation thus far, Darshan, I guess what I would ask you is, if you had to pick, you know, a final insight, one action that business leaders can take today to begin, you know, either attracting capital and or building wealth, it will set them and their business on a better footing. What might that be?

Dar'shun Kendrick 27:19

Oh, that's an easy one. It's the not a reason that investors invest into companies, and it's your team. It doesn't matter if you have an idea for the next Facebook, Google, Amazon. None of that matters if you don't have a team to execute it. The number one reason that comp scale and grow and attract investors are your team members. They investors want to know that not only that you have a great idea, but that you have people who can actually execute it. So surround yourself with the right team members. My personal saying is, what I do, I do well, what I don't do? Well, I don't do so if I don't do something, well, I don't do it. I outsource it. I bred team member. I concentrate on the core things that are going to grow and scale my business that I'm very, very good at. So every business leader has to ask themselves, what is it that I do? Well, okay, do that. What is it that I don't do? Well, then don't do it. And I think if you put the right team members into that space where you don't do something well, you'll see almost immediate results.

Mike O'Neill 28:30

I have to follow up on this, because we've been talking about people who have a great idea, and you've been stressing the importance of surrounding yourself with the right team have the right qualities. When it gets down to you're in negotiations with an investor, how do you advise your client to make known the depth of the team that they would be getting if they were to invest?

Dar'shun Kendrick 28:59

Well, if I'm if I am representing the founder, then what I really try to convey to them is, particularly if they're giving a pitch to an investor, is to make sure that the team shows up and that you have a slide in your slide that that highlights the expertise and sort of the how they would help further goal in your particular pitch deck. So most pitch decks have a team deck include that if you're the funder, because, of course, we represent private equity and venture capital funds, our portfolios that they that they companies that they want to invest in, then a lot of that is a part of the due diligence process, where initially there's a slide deck with, you know, three names on it that are co founders, are part of the team, and then it really is about doing the back end due diligence to make sure that that team, one can, you know, has everything that they said that they had on the slide certifications, you know. Background experience and all that, but two, and this goes back to my point about hiring for character skills are only one part of that. I always advise private equity and Fisher capital clients that you know before you invest into a portfolio company not only check the credentials of the team, but the character of the team. And we call it sort of the Whisper circuit. It's not a part of the formal due diligence, but, you know, calling people and say, Hey, have you heard about Joe Smith and his team? Like give us some insight, because if there are red flags about their character up front, I assure you that character flaw is not going away when you invest in them. And so depending on if you're a founder or a funder, I give sort of a different recommendation about how you should approach really proactively highlighting who the team is.

Mike O'Neill 31:05

Darshan, our mutual friend Mike Blake suggested that I reach out to you as a potential podcast guest. I'm glad he he did before we close. I do have a question for our listeners, and that is, how do people choose to follow you? Is it out of obligation or because they genuinely believe in your vision and values? True leadership begins with clarity. It grows with confidence and it thrives on resilience. As an executive coach, my role is to help leaders cultivate these strengths and become great ones through actionable strategies that make a real difference. So if you're ready to take your leadership to that next level, visit bench builders.com to explore how we can support your journey. Darshan, thank you again for sharing your valuable insights. For listeners who would like to connect with you or learn more about your work, what's the best way for them to reach out to you.

Dar'shun Kendrick 32:02

Well, you can follow me on LinkedIn. I'm at my max, so you can't connect with me, but you can always search Darshan, Kendrick and connect with me on LinkedIn. I post some really helpful content on there, or you can visit our website, chaos. Legal advisors.com, K, a, i, r, O, S, legal advisors, A, D, B, I, O, R, s.com, and it has some plenty of information about more about the work that we do with the law firm and investment advisory firm. But thank you so much, Mike. I appreciate it.

Mike O'Neill 32:33

I've been speaking with Dar'shun Kendrick. D, A, R, S, H, U N, and I experienced something I hadn't experienced before. I wanted to connect with Darshan on LinkedIn, and she said, Mike, give me a day or so, because I have to really, I have to drop a connection, to add you as a connection. So I'm flattered that you, you added me as a connection. For those who have listened to this episode, you can see why she has such a large following. Let me encourage you to do that. And information that Darshan to share will be in the show notes. So I want to also thank our subscribers for tuning in, and I hope today's conversation sparked some new ideas and inspirations to help you get unstuck and on target. Thank you for joining us for this episode of get unstuck and on target. I hope you've gained insights to help you lead with confidence and drive your organization forward. Remember, at bench builders, we're committed to your success, your leadership excellence and your strategic growth. If you've enjoyed our conversation today, please leave a review rate and subscribe to keep up with our latest episodes. This show really grows when listeners like you share it with others. Who do you know? Who needs to hear what we talked about today? Until next time, I encourage you to stay focused on the target and continue to break new ground on your leadership path. You