Entrepreneurial Lessons Learned the hard way
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Entrepreneurial Lessons Learned the hard way

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Presentation to undergraduate class in Leavey School of Business, Santa Clara University, April 2011

Presentation to undergraduate class in Leavey School of Business, Santa Clara University, April 2011

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    Entrepreneurial Lessons Learned the hard way Entrepreneurial Lessons Learned the hard way Presentation Transcript

    • Copyright Online Legacy® 2010 Entrepreneurial Lessons Learned By Sam W. Beal presentation at SCU Jan 19, 2011
    • Wish I didn’t know now what I didn’t know then Against the Wind Bob Seger and the Silver Bullet Band
    • IC Design Shifts M’s 100K 10K 1K Complexity $100 days FPGA 1990s $10 “ 0” SoC 2000s Cost Fab cycle Design $100K $1M + months years ASIC Custom 1980s 1970s
    • Catch a paradigm wave, 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?
      • Actel
      • Antifuse  A1280
      Technology Products Solutions Xilinx Time to Market 5% margin hit Bigger Faster Cheaper Customer pain problem: H/W, S/W debug Field updates
    • Can’t do Plan B, the patent is on Plan A Plan A - US 6,175,161 Plan B - Xilinx Mar 2010 filed 1998
    • Your first plan is usually wrong
      • Don’t bet all your funding on Plan A.
      • Test Assumptions (with metrics)
      • What do customers say?
    • Internet Paradigm Shifts Plan A Plan B Open-garden Search ContentPortal Walled-garden Profile-based Ads Contextual Ads Generic Ads Subscrip’n service Google 2005 Facebook 2010 Yahoo AOL 2000 1995
    • Customer care is not a game JigSawtek Customer VP of BD: “ they’re 2 miles north, you can’t miss it.” CEO: “ If you don’t buy our solution, I’ll take it to your competitor.”
    • You can be too early
      • Deep pockets
      • Low burn rate
      • Evangelist
    • Build a team, don’t be the team.
    • Good ideas aren’t enough
      • Execution is often the difference between success and failure.
      • Most small businesses fail for lack of $
      • Lots of smart people in the room = no guarantee of success.
    • Closing Thoughts
      • The Medici Effect
      • Creativity occurs when orthogonal technologies (and people) interact.
      • The Secret of Life is Searching
      • new models - EcoFactor, OPower
      • old models, new tech - Groupon, Mint
      • new models, new tech - Netflix, iTunes
    •