ventures
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Former Lotus 1-2-3 founder Mitch Kapor has launched a number of new ventures, and he knows firsthand the difficulty of competing with the Valley's best-known brands for top engineering and executive talent. He shares his solutions to luring the best in human resources to his door, including distributed development and opening doors elsewhere in the Golden Gate.
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InCube Labs CEO Mir Imran reflects upon his failed business ventures. It's much more painful to kill a failing company than it is to nix an innovation, he's found. He stresses the importance of pushing an idea to its breaking point from the beginning - a preferred alternative to dismantling the rusted shards of a failed organization and wasted resources.
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Mandelbaum did not consciously make the decision to shift her life's work, but was asked by two friends to help them with their new venture firm. This was in 2002, and a very difficult time to start this type of company. She got very involved in the challenges of the project and decided to commit herself to what Monitor Ventures was trying to do.
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Repackage, rejuvenate, re-market, and re-examine those products or practices you thought would fly, and craft them a new set of wings. Vice President of Search Products & User Experience, Marissa Mayer lives by the old adage that if at first you don't succeed, try again. She pushes aspiring business thinkers to breathe new life into failed ventures, as opposed to cutting the cord.
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Guy Kawasaki, founder and Managing Director of Garage Technology Ventures, believes that those companies who set out to make a positive change in the world are the companies that will ultimately be the most successful. He gives examples of the best way to make meaning: increase quality of life, right a wrong, and prevent the end of something good.
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He never took a business course. Or finance. Or marketing. But InCube Labs CEO Mir Imran rose to the occasion, and he has gone on to own 20 different ventures, almost all of which were entirely successful. He encourages student entrepreneurs to pick up basic business skills early in their career - including financial and accounting skills as well as strategy concepts - to exceed in their chosen field.
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How you exit your venture is of equal weight to entering the market, says Mir Imran, CEO of InCube Labs and entrepreneur behind 20 different ventures. Particularly for the high-risk, single-product enterprise, knowing how your shop will be sold or acquired is a critical component to its viability.
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Tom Byers, professor at Stanford University and founder and a faculty director of the Stanford Technology Ventures Program (STVP), stresses that "Entrepreneurs are not born, they are made". He discusses a framework that elaborates the difference between an idea and an opportunity.
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Brett Crosby, Google Analytics' Group Product Marketing Manager, shares a lesson from Michael E. Gerber's E-Myth series that's helped propel his business strategy: Do every job in your company, and as soon as you understand each one, hire someone else to do it. Too many ventures spend too much time simply focusing on product, and overlook this critical focus on process.
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According to Adams, the biggest competitor of a start-up is a large established company. Their size alone is enough to destroy a young company, says Adams, but large companies are at a disadvantage because they're slow to act and avoid risk at all cost.
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Kathy Eisenhardt, co-director of Stanford Technology Ventures Program and professor in Management Science and Engineering, discusses the size and composition of successful teams. She recommends a team of 3-5 cross-functional people with diverse age group and experience.
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Fraser believes alignment is the underlying principle to everthing we do. The work has to be fulfilling for the people who work in entreprenuerial ventures, she says. It is important to create an environment where people can excel.
