Entrepreneurial Lessons 2012
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Entrepreneurial Lessons 2012 Presentation Transcript

  • 1. Entrepreneurial Lessons Learned By Sam W. Beal presentation SCU Jan 18, 2012 linkedin/in/samwbeal
  • 2.
    • “ The first thing you should learn in a course on entrepreneurship is how to make yourself valuable.”
      • Combine Skills
      • Fail Forward
      • Find the action
      • Attract Luck
      • Conquer Fear
      • Write simply
      • Learn Persuasion
    Scott Adams WSJ 4/9/11
  • 3.
    • “ The first thing you should learn in a course on entrepreneurship is how to make yourself valuable.”
      • Combine Skills
      • Fail Forward
      • Find the action
      • Attract Luck
      • Conquer Fear
      • Write simply
      • Learn Persuasion
    Scott Adams WSJ 4/9/11
  • 4. 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
  • 5. What business are you in? Technology Products Solutions Bigger Faster Cheaper Time to Market antifuse
  • 6. Plan on needing a Plan B
    • Don’ t bet all your capital on Plan A
    • Conserve funding until you validate assumptions with real users.
  • 7. Validation is tricky
  • 8. 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.
  • 9. 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
  • 10. 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
  • 11. You can’t bluff your customers
  • 12. 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.”
  • 13. You can be too early
  • 14. If you are too early, you need Deep pockets Partners – Alliances, Evangelists Patience
  • 15. Build a team, don’ t be the team.
  • 16. 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
    • Be a Samurai .
  • 17. Jason Calacanis*