Brave Commerce: Sparking Opportunity in Commerce with Michael Kassan Release Date: October 22, 2024

In this compelling episode of Brave Commerce, hosts Rachel Tipograph, Founder & CEO of MikMak, and Sarah Hofstetter, President of Profitero, sit down with Michael Kassan, the visionary Founder and CEO of 3C Ventures. Kassan delves deep into his entrepreneurial journey, the foundational importance of people in business, his strategic framework—the "3 C's," and his aspirations for his legacy in the eCommerce and venture capital landscape.

Introduction to Michael Kassan and 3C Ventures

Michael Kassan begins by sharing the genesis of 3C Ventures, an enterprise built on the pillars of Consulting, Convening, and Co-Investing. These three elements, collectively known as the "3 C's," form the backbone of his strategic approach to fostering innovation and growth within the eCommerce sector.

Michael Kassan [05:15]: "It's descriptive in my view of what I was going to be focusing on: consulting, convening, and co-investing."

The Paramount Importance of People and Talent

A central theme of the conversation revolves around the critical role that people and talent play in the success of any organization. Sarah emphasizes the challenges of hiring, training, and retaining top talent, a sentiment echoed by Rachel.

Sarah Hofstatter [02:12]: "People. Talent. No question. You got a better answer? No."

Kassan concurs, highlighting his own experiences in building teams and the intricate process of identifying individuals who bring that indispensable "spark."

Michael Kassan [14:58]: "There's always that spark, Sarah... It's amorphous, but when you see it, you know."

Building Legacy Through the 3 C's

The discussion shifts to Kassan's vision for his legacy. He aspires to be remembered as a "mensch"—a person of integrity and honor—who significantly contributed to the industry. Kassan reflects on how his past experiences have shaped his current endeavors and future aspirations.

Michael Kassan [09:21]: "I would like that to be the legacy, obviously with the substantive underpinnings of that."

Learning from Regrets and the Importance of Due Diligence

Kassan openly discusses his regrets, particularly a recent transaction that did not yield the expected outcomes. This candid reflection underscores the importance of due diligence, especially when evaluating potential investments and partnerships.

Michael Kassan [10:20]: "I made a bad judgment and it's one that cost me, and I'm sad about that."

He advises founders and operators to ensure that promises are backed by capable people and to thoroughly vet the individuals involved.

Michael Kassan [13:05]: "Make sure that the promise is backed up by the people and make sure you do the proper diligence on the people."

Hiring Philosophy: Seeking the Spark

Kassan elaborates on his unique approach to hiring, seeking individuals who exhibit a certain intangible quality—the "je ne sais quoi." He shares an anecdote about hiring Grant Gitlin, whose insightful question during an interview revealed his exceptional potential.

Michael Kassan [14:58]: "...something about that question sparked something in my mind... You see, I don't know what it is. I don't know how to describe it. It's amorphous. But when you see it, you know."

The T's and C's Framework: Navigating Industry Trends

To articulate his focus areas, Kassan introduces the T's and C's framework:

• T's: Trust, Transparency, Talent, Technology, Transformation
• C's: Content, Commerce, Culture, Creativity, Community, Curation

This structured approach allows Kassan and his team at 3C Ventures to navigate the complex and ever-evolving landscape of eCommerce effectively.

Michael Kassan [19:00]: "Trust, transparency, talent, technology, and transformation... Content, commerce, culture, creativity, community, and curation."

Connector and Maven: Leveraging Industry Connections

Kassan discusses his reputation as a connector and maven within the industry. He emphasizes that while having an extensive network is advantageous, the true value lies in how one leverages these connections to drive meaningful collaborations and innovations.

Michael Kassan [17:21]: "It's what you do with it and how you understand it and how you navigate it."

Reflections on AI and Industry Dynamics

The conversation takes a light-hearted turn as Kassan humorously references the pervasive role of AI in contemporary discussions, even making its way into synagogue sermons.

Michael Kassan [20:52]: "The drinking game is on. It's continuing in the rabbinic universe."

This anecdote underscores the ubiquitous nature of technological advancements and their integration into all facets of life and business.

Final Insights and Legacy Aspirations

In the closing segments, Kassan shares a poignant personal reflection about his bravest and smartest decision—parenting his children and grandchildren, symbolized through the celebration of their bat and bar mitzvahs.

Michael Kassan [22:04]: "That's the bravest and smartest thing I did. But the luckiest thing I did as well because of the dividends, that's the children and the grandchildren."

He reiterates his commitment to leaving a meaningful legacy both professionally and personally.

Conclusion

This episode of Brave Commerce offers a deep dive into Michael Kassan's strategic mindset, emphasizing the pivotal role of people, the importance of strategic focus through the 3 C's and T's and C's frameworks, and the value of building a legacy grounded in integrity and meaningful contributions to the industry. Kassan's candid reflections and seasoned insights provide invaluable lessons for entrepreneurs and marketers navigating the dynamic world of eCommerce.

Notable Quotes

• Michael Kassan [05:15]: "It's descriptive in my view of what I was going to be focusing on: consulting, convening, and co-investing."
• Sarah Hofstatter [02:12]: "People. Talent. No question. You got a better answer? No."
• Michael Kassan [14:58]: "There's always that spark, Sarah... It's amorphous, but when you see it, you know."
• Michael Kassan [09:21]: "I would like that to be the legacy, obviously with the substantive underpinnings of that."
• Michael Kassan [13:05]: "Make sure that the promise is backed up by the people and make sure you do the proper diligence on the people."
• Michael Kassan [19:00]: "Trust, transparency, talent, technology, and transformation... Content, commerce, culture, creativity, community, and curation."
• Michael Kassan [20:52]: "The drinking game is on. It's continuing in the rabbinic universe."
• Michael Kassan [22:04]: "That's the bravest and smartest thing I did. But the luckiest thing I did as well because of the dividends, that's the children and the grandchildren."

For more insightful conversations and industry-leading perspectives, tune into Brave Commerce on your preferred podcast platform.