Todd Dunlop started his first business, Neverblue Media, in 2004. He later sold the company and moved on to become an investor and founder of other tech companies.
The experience of starting multiple companies has made him realize that it takes more than hard work to make a good idea into a successful business – it also takes passion.
“I have started a number of companies in spaces I was interested in, but I wasn't really passionate about,” Dunlop said.
For instance, a photo-syncing company he founded with business partners based on a promising “Silicon Valley” idea fizzled, while his current venture, a digital marketing company called RingPartner, has been a steady success.
“I'm really passionate about direct marketing and stats,” Dunlop said. “That's what really drives me, and seeing instant results from really small changes and growing businesses that way.”
Dunlop still invests in startups, but he's learned to let others who have true passion take the reins.
“When there's an area of business that I'm interested in, that's usually the best time to invest in someone who's passionate about that segment of the business,” Dunlop said. “When I'm really passionate about something, that's where that's a good business for me to be involved in day to day.”
On investing in passion: “I have an investment in Kiind.me. The idea behind it is they're doing gift cards [that are] actually being tracked. The whole gift card industry has a big problem where people are buying gift cards but never using them. … I think it's a neat problem, but I wouldn't have the passion to go and solve this problem. … I've invested in these guys and worked with them along the way.”
