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Who we back

Adverse selection, and how we dodge it

The quiet killer of performance deals isn't bad work. It's who says yes to them. Here's the screen we run.

Here's the problem nobody running a revenue-share pitch likes to say out loud. The companies most eager to push all the risk onto you — no cash, just take a cut if it works — are disproportionately the ones quietly unsure they can convert. The strong, well-run companies that know they close? They're usually happy to just pay.

That's adverse selection, and it's the quiet reason a lot of "only pay for performance" shops underperform. If the only filter is "willing to skip the invoice," you systematically tilt your book toward the weakest operators — the exact companies where a great pipeline dies in a broken sales motion.

How we screen it out

We don't have a clever trick here, just three deliberate defenses:

  • We choose, like an investor. Selection isn't a step before the work — it is the work. We turn down most conversations, and saying no to the wrong ten is how we protect the right one.
  • The proof sprint filters for closers. Before any upside deal, a short, paid sprint tests whether your team actually converts what the engine produces. It's the cheapest way to find a broken sales motion before we've bet on it.
  • We keep a cash door open. Because FrontPipe offers a normal fixed-fee engagement, "won't pay cash" isn't the only signal we read. Companies self-sort by what they value, not just what they can afford — and that tells us a lot.
We'd rather pass on ten good-enough companies than take one that's adversely selected.

The flip side is the good news: if you are a strong operator, this model is built for you. You're not subsidizing anyone else's risk, and you keep the cash you'd otherwise have handed an agency. The bar is high on purpose — and clearing it is exactly why the deal is worth taking.

Confident you can close? So are the companies we back.

If you've got a product that sells and a team that closes, the performance model is built for you.