On October 23rd, 2014, we updated our
By continuing to use LinkedIn’s SlideShare service, you agree to the revised terms, so please take a few minutes to review them.
“ The first thing you should learn in a course on entrepreneurship is how to make yourself valuable.”
Find the action
Scott Adams WSJ 4/9/11
Catch a paradigm shift, if you can We tend to over estimate near-term change And under estimate long-term change expectation reality entry exit
What business are you in? Technology Products Solutions Bigger Faster Cheaper Time to Market antifuse
Plan on needing a Plan B
Don’ t bet all your capital on Plan A
Conserve funding until you validate assumptions with real users.
Validation is tricky
Validation is tricky Look for evidence that your assumptions are wrong. Keep looking. Will your customer refer the product? Is he still using it 3 or 6 months later? PS: Anything that takes money or attention away from your target customer is competitive.
Plan B examples A B C AOL Yahoo Google Facebook ISP Search Search edu directory walled garden + Netscape sold - $$$ yahoo 2.0 ? display ad verticals Plan D? adwords search + video + mobile + social walled garden the future web
Can’ t do Plan B, our patent is on Plan A Xilinx 2010 A patent doesn’t mean you can make it or sell it 1998
You can’t bluff your customers
You can’t bluff your customers JigSawtek Customer VP “ There on the other side of 101, you can ’ t miss it.” CEO “ If you don ’ t buy our company at my price, I ’ ll take it to your competitor.”
You can be too early
If you are too early, you need Deep pockets Partners – Alliances, Evangelists Patience
Build a team, don’ t be the team.
Good ideas aren’ t enough
Execution is often the difference between success and failure.
A lot of smart people in the room is no guarantee of success