A	  few	  lessons	  learned	  	  Oct	  27,	  2011	  at	  the	  Department	  of	  Applied	  Informa;on	  Technology	  at	  ...
1.	  
What	  do	  Paul,	  Börje	  and	  Rohit	  have	  in	  common?	  
Paul	  Ahlstrom	  	  Successful	  investor	                ”If	  you	  have	  an	                idea,	  don’t	  build	   ...
Börje	  Langefors	  	  Pioneer	  and	  first	  IT	  professor	                       ”Data	  is	  not	                     ...
Rohit	  Sharma	  Serial	  entrepreneur	  
Paul,	  Börje	  and	  Rohit	  know…	  …there	  will	  be	  failure	  
What	  they	  know	  •  Paul	  knows	  his	  porUolio	  companies	  will	     release	  products	  people	  don’t	  want	 ...
Why?	  •  Technology	  issues?	  	  •  No!	  	  •  But	  because	  we…	        don’t	  understand	  user	        	        ...
It	  happens	  as	  we	  speak	  •  Developing	  systems	  with	  no	  knowledge	  about	     the	  domain	  •  Wri;ng	  b...
Understanding	  user	  needs	  is	  key	  •  Compe99ve	  companies	  much	  needed	  •  Compe;;ve	  companies	  rely	  on	...
Scary	  today	  
Scary	  in	  the	  future?	  
User	  needs	  •  It’s	  about	  figuring	  out	  what	  people	  don’t	  know	     they	  want	  •  People	  don’t	  know	...
Vision	  Henry	  Ford:	  	  “If	  I	  had	  asked	  people	  what	  they	  wanted,	  they	  would	  have	  said	  faster	 ...
There’s	  only	  one	  way	  to	  do	  it	  Steve	  Blank:	  “Get	  the	  hell	  out	  of	  the	  office!”	  	  à	  Go	  ou...
#1:	  Conclusion	  •  Understanding	  user	  needs	  has	     been,	  is	  and	  will	  be	  crucial	  	  
2.	  
Randy	  Komisar	  	  (Kleiner	  Perkins)	  ”Nobody	  walks	  in	  here	  with	  a	  new	  idea.	  I’ve	  seen	  all	  idea...
The	  manager	  “The	  last	  20%	  of	  a	  project	  will	  take	  80%	  of	  the	  9me…	  at	  least”	  	  Surveys	  • ...
Randy	  and	  the	  manager	  know	  Execu9on	  is	  key	             The	  idea	  is	  1%,	  execu;on	  is	  99%	  
Execu;on	  •  Management	  	  •  Sales	  and	  customer	  rela;ons	  	  •  Develop	  technology	  	  •  Hard	  work,	  lon...
User	  needs	  +	  execu;on	  
#2:	  Conclusion	  • Execu9on—to	  get	  things	  done  —has	  been,	  is	  and	  will	  be	    crucial	  	  
?	  
It	  is	  possible	  
It	  is	  possible	  +	  	                     =	  True	  
3.	  
Close	  to	  bankruptcy	  in	  1997	  
Steve	  and	  Steve	  started	  a	  company	  
And	  so	  did	  we!	  People	  with	  no	  understanding	  of	  user	  needs	  but	  some/weak	  knowledge	  about	  exec...
But	  a	  crazy	  financial	  market	            (which	  we	  knew	  and	  could	  offer	  what	  they	  wanted)	          ...
CeBIT	  2000	  
Agreement,	  awards	  and	  the	  best	  product	   but	  way	  too	  early	  and	  wrong	  loca;on	  
2000-­‐2001	  	                        -­‐50	  000	  employees	          +	  
•  Sell	  the	  product	  business	  (no	  funding	  available	  anyway)	  •  Buy	  out	  investors	  	  •  Be	  good	  at...
Some	  lessons	  learned	  •  If	  we	  had	  considered	  user	  needs	  carefully	  and	  had	  the	  ability	  to	  kil...
Concluding	  remarks:	  	                       Sugges;ons	  to	  students	  •  (User	  needs	  and	  execu;on)	  •  Try	 ...
Thank	  you!	  fredrik.ljungberg@apprecia.se	        +46	  (0)733	  311	  100	  
Lessons learned about entrepreneurship
Lessons learned about entrepreneurship
Lessons learned about entrepreneurship
Lessons learned about entrepreneurship
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Lessons learned about entrepreneurship

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Presentation about innovation and lessons learned. Ten years anniversary of the Dept of Applied IT, IT univ of Gotneburg.

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Lessons learned about entrepreneurship

  1. 1. A  few  lessons  learned    Oct  27,  2011  at  the  Department  of  Applied  Informa;on  Technology  at     Chalmers  University  of  Technology  and  University  of  Gothenburg       Fredrik  Ljungberg  
  2. 2. 1.  
  3. 3. What  do  Paul,  Börje  and  Rohit  have  in  common?  
  4. 4. Paul  Ahlstrom    Successful  investor   ”If  you  have  an   idea,  don’t  build   anything!”  
  5. 5. Börje  Langefors    Pioneer  and  first  IT  professor   ”Data  is  not   informa;on”  
  6. 6. Rohit  Sharma  Serial  entrepreneur  
  7. 7. Paul,  Börje  and  Rohit  know…  …there  will  be  failure  
  8. 8. What  they  know  •  Paul  knows  his  porUolio  companies  will   release  products  people  don’t  want  •  Börje  knows  his  students++  will  develop   systems  people  don’t  want  •  Rohit  knows  his  start  ups  will  launch  solu;ons   people  won’t  like  
  9. 9. Why?  •  Technology  issues?    •  No!    •  But  because  we…   don’t  understand  user     needs  properly  
  10. 10. It  happens  as  we  speak  •  Developing  systems  with  no  knowledge  about   the  domain  •  Wri;ng  business  plans  for  new  products  
  11. 11. Understanding  user  needs  is  key  •  Compe99ve  companies  much  needed  •  Compe;;ve  companies  rely  on  innova9on    •  Innova;on  relies  on  understanding  needs  •  Innova;on  has  to  happen  faster  and  faster    •  Compete  in  a  global  market  
  12. 12. Scary  today  
  13. 13. Scary  in  the  future?  
  14. 14. User  needs  •  It’s  about  figuring  out  what  people  don’t  know   they  want  •  People  don’t  know  what  they  want  •  People  will  say  your  baby  is  ugly  •  Needs  evolve    •  What  to  do?     – Look  for  pain!   – “Get  the  hell  out  of  the  building”  
  15. 15. Vision  Henry  Ford:    “If  I  had  asked  people  what  they  wanted,  they  would  have  said  faster  horses.”    
  16. 16. There’s  only  one  way  to  do  it  Steve  Blank:  “Get  the  hell  out  of  the  office!”    à  Go  out,  be  open  minded  and  learn  quickly!  
  17. 17. #1:  Conclusion  •  Understanding  user  needs  has   been,  is  and  will  be  crucial    
  18. 18. 2.  
  19. 19. Randy  Komisar    (Kleiner  Perkins)  ”Nobody  walks  in  here  with  a  new  idea.  I’ve  seen  all  ideas  10  9mes.”      “For  every  decent  idea  there  are  30-­‐40  guys  working  on  it.”  
  20. 20. The  manager  “The  last  20%  of  a  project  will  take  80%  of  the  9me…  at  least”    Surveys  •  +  75%  of  all  projects  miss  deadlines  •  +50%  exceed  budget  •  Most  start  ups  fail  (loads  of  sta;s;cs)    
  21. 21. Randy  and  the  manager  know  Execu9on  is  key   The  idea  is  1%,  execu;on  is  99%  
  22. 22. Execu;on  •  Management    •  Sales  and  customer  rela;ons    •  Develop  technology    •  Hard  work,  long  hours  
  23. 23. User  needs  +  execu;on  
  24. 24. #2:  Conclusion  • Execu9on—to  get  things  done —has  been,  is  and  will  be   crucial    
  25. 25. ?  
  26. 26. It  is  possible  
  27. 27. It  is  possible  +     =  True  
  28. 28. 3.  
  29. 29. Close  to  bankruptcy  in  1997  
  30. 30. Steve  and  Steve  started  a  company  
  31. 31. And  so  did  we!  People  with  no  understanding  of  user  needs  but  some/weak  knowledge  about  execu9on  
  32. 32. But  a  crazy  financial  market   (which  we  knew  and  could  offer  what  they  wanted)   Worked  hard  and,  eventually,  we  learned  No  contact     No  customers    with  users   and  few  references     Professional    Too  early   Internal  R&D   services   Customers   50%     50%  Quite  poor  execu9on   Produktbolag   Produktbolag   Spinn  off  
  33. 33. CeBIT  2000  
  34. 34. Agreement,  awards  and  the  best  product   but  way  too  early  and  wrong  loca;on  
  35. 35. 2000-­‐2001     -­‐50  000  employees   +  
  36. 36. •  Sell  the  product  business  (no  funding  available  anyway)  •  Buy  out  investors    •  Be  good  at  something  Volvo  needs  •  Niche  •  Work,  work,  work  
  37. 37. Some  lessons  learned  •  If  we  had  considered  user  needs  carefully  and  had  the  ability  to  kill  our   babies,  the  product  business  would  have  been  sold  earlier    •  Lack  of  execu9on  abili;es  compensated  with  hard  work  and  ambi;on    •  Mix  of  competencies  was  crucial    •  Focus  on  results  and  margin  created  a  common  goal  and  mindset  •  Learn  how  the  customer  thinks  and  their  major  pains    •  Work  harder  than  compe;tors  pays  off  •  Always  deliver  and  communicate  to  build  confidence    
  38. 38. Concluding  remarks:     Sugges;ons  to  students  •  (User  needs  and  execu;on)  •  Try  to  be  good  at  something  •  Trying  hard  will  pay  off    •  First  employer  is  key  •  Use  technology    •  Learn  how  to  program  
  39. 39. Thank  you!  fredrik.ljungberg@apprecia.se   +46  (0)733  311  100  

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