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Surromed has had to adapt its business plan, downsize the company, and pair down numbers of diseases, says Ringold. Things are very different from when they started the company. To be stronger when markets open up and to start a company today, one must build slowly and be flexible, he notes.
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It's often more difficult than it sounds, but it's important to be fanatically ethical when building a company, says Levinson. He believes people understand if it's an ethical environment right away. It is something that people gravitate to, he says, so you just have to build it early and never step off of it.
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From an entrepreneurs point of view, it is a great time (2002) to assemble a team that isn't distracted by money, and is interested in building a real team, and developing a solid business plan.
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Jung talks about the importance of empowering an entrepreneur's target audience in acquiring customers. Viral marketing is one of the ways to acquire and build loyal customers at a low cost, he adds.
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Agassi talks about the importance of money and its role in shaping the way entrepreneurs think about their businesses. An entrepreneur should not build a company to make money, he emphasizes.
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According to Komisar, the nature of the work in Kleiner Perkins is very hands on. He meets with companies every week to build their strategies, partnerships and relationships. For this reason, it is no surprise that many companies from around the world move their management teams to Silicon Valley to build the business; the ecosystem in the area is very reinforcing. On the other hand, this is also why it is difficult for a venture capitali...more
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I never had a technology company, says Hawkins. He believes that products come out of product marketing people who really love and understand products. He asks his employees to use competitor products to learn something from them. The focus should be on what people want and what they need, rather than only on technology.To build a successful product one has to innovate continuously, focusing on what people do and not what they say. And if ...more
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Kim explains that EA's strategy is based on nailing down the "X," or organic fun concept for that product. EA shares knowledge across studios and around development creating a collaborative environment. The development process is pretty standard: build prototypes, do market tests, start to build it and, ultimately, finalize the product, she says.
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I build companies, it's what I love to do, says Neeleman. I want to build a legacy--something that will last for a long time, he says. We came up with a simple model of bringing humanity back to air travel, and making a difference, he adds. Becoming a better company, being the best in a really bad industry, is his mission.
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Verma talks about how it is important to understand the reasoning behind wanting to become an entrepreneur. He stresses that to do it for the money is always the wrong reason. Build something to last, and build it with passion and drive, he says.
