Entrepreneurial lessons apr2012

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Presentation to undergraduate Entrepreneurship class in Santa Clara university Leavey School of Business

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Entrepreneurial lessons apr2012

  1. 1. “The first thing you should learnin a course on entrepreneurshipis how to make yourselfvaluable.” •  Combine Skills •  Fail Forward •  Find the action •  Attract Luck •  Conquer Fear •  Write simply •  Learn Persuasion Scott Adams WSJ 4/9/11
  2. 2. Entrepreneurial Lessons Learned By Sam W. Beal SCU Apr 11, 2012 Linkedin/in/SamWBeal @sambeal Sambeal.com
  3. 3. “The first thing you should learn ina course on entrepreneurship ishow 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. 4. Catch a paradigm shift, if you canPeople tend to over estimate near-term changeAnd under estimate long-term change reality exit expectation entry
  5. 5. What business are you in?Technology Products Solutionsantifuse Bigger Time to Market Faster Cheaper
  6. 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. 7. Validation is tricky
  8. 8. Validation is trickyPeople tend to “see” evidence that confirmsbeliefs but overlook what doesn’t.Does the customer refer the product to friends?Is she still using it 3 or 6 months later?Anything that takes money or attention awayfrom your target customer is competitive.
  9. 9. Plan B examplesAOL Yahoo Google FacebookISP Search Search edu directory Awalled display ad adwords walled gardengarden Portal search B+ Netscape verticals + video the future websold - $$$ + mobile C + socialyahoo 2.0 ? Plan D?
  10. 10. Can’t do Plan B, our patent is on Plan A Xilinx 2010 1998A patent doesn’t mean youcan make it or sell it
  11. 11. Right idea – Wrong time You can be too early
  12. 12. If you are too early, you needDeep pocketsPartners – Alliances, EvangelistsPatience Patent filed in 2007 issued on 2/21/12
  13. 13. Build ateam,don’t bethe team.
  14. 14. SummaryGood ideas aren’t enoughFind a menschBe a Samurai
  15. 15. Ideas, people and $$$ are not enough.
  16. 16. Find a mensch
  17. 17. Instagram CEO Kevin Systrom @kevin was an intern under @Jack – the founder of Twitter and Square
  18. 18. Jason Calacanis*

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