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The DNA of Entrepreneurship
Eric Jacksonon 19 March 2014
Transcript of The DNA of Entrepreneurship
The Prepared Mind
Carlos Baradello, PhD
GOLD RUSH ENTREPRENEURS
Mining the Silicon Valley Mind
A Perspective for Foreign Entrepreneurs
Silicon Valley Waves of Innovation
1840 - 1910
Silicon Valley Waves of Evolution
1910 - 1980
1920 - 1940
1940 - 1950
The Birth of Silicon Valley
1957 -- “almost” failed to raise $1.5MM to fund Fairchild
1968 -- was able to raise $5MM to fund Intel in less than 30 minutes. One of the “very few” he was certain of its success!
1. Prepare for the unknown
2. Adapt quickly
3. Be yourself!
4. Openness brings rewards
5. Partner, partner, partner
6. Global grand vision
7. Passion for success
8. Give to the community
9. Your pitch is your currency
10. Eternal optimism
TOP 10 REQUIREMENTS FOR
Pragmatic, confident and prepared to deal with the unknown!
Willingness to defy naysayers in your home country. Become aware of what is required to perform, and prepare fully before arrival.
Required actions before arriving:
• Lived the Valley experience virtually,
• Improve English knowledge and learn the business lingo,
• Network virtually and locally like crazy.
• Organize venture for managing remotely
• Global mind-set, ready and willing for global scaling
• FUNDING ($$$$)
Prepared for the Unknown
Readiness to deal with rejection, be proven wrong, learn fast, adapt quickly and be energized by adversity!
Recover quickly and no one remembers. Demonstrate ability to listen, by your “improved” answers incorporating feedback. If you persevere unchanged with your perspective, you better be right! Be ready to be humbled.
Do not try to be what you are not. However, do play by the valley rules and business protocols. Every one expects you to master pitching and networking, and play win-win at a hyper fast-pace.
You are adding to the diversity, so be yourself!
• Willingness to compete with the best and hold your ground,
• Master the ins and outs of your business/industry globally,
• Master you pitch,
• Produce your one-pager.
Openness Brings Reward
Your best insurance policy is your brilliance and speed. Share as much as it is reasonable. It is likely you are not alone or the first to think on what you think is “the great idea”. However, be aware: the Valley is paved with great ideas!
Leave the non-disclosures and confidentiality agreements in your home country.
• The Valley is open for business 24/7/365, are you?
• High energy and optimist,
• Balance between thinker and doer,
• A connector that is willing to share,
• Seek win/win outcomes.
Partner, Partner, Partner
You need help from many. Make explicit decisions on your value creation proposition (your uniqueness) and leverage the rest from partners in win-win relationships. The name of the game is to create wealth…. And share it!
You cannot make it alone.
• Identify what is core to your business,
• Identify key partnership,
• Be able to develop win/win relationships with stakeholders.
• You need all the help you can get!
Global Grand Vision
You have already demonstrated you can succeed in your home country. Now do you have the right stuff to play in the global business Olympics?
• Know your stuff; you will not be able to fake it!
• The things you do not know, admit and learn quickly.
• Get plugged in to the key information avenues either by
networking or reading the right web sites/blogs.
Be globally minded!
Passion for Success
• No one cares about your family prestige or wealth
(unless you are investing part of it in your venture).
• Your degrees were helpful to get the first meeting, the
rest is up to you,
• Demonstrate your passion and commitment for your
venture, and Walk the talk!
Your success depends on your
mind + heart + action
Your pressure to capture the window of opportunity is very real and your limited resources are omnipresent. Yet your success depends on others and the successes of others depend of you. You will be asking favors and you will be expected to return them.
To get from the community you will have to give to the community.
• “T” type of individual: focused and deep in their core discipline yet broadly
knowledgeable and able to reach across different disciplines,
• Success will be measured financially, but how you get there is also important,
• You are creating your track record, success or failure, how you conduct
yourself is important.
• Master the knowledge of your business
• Develop dozens of capsules
• Master its delivery under ALL circumstances.
Like the early gold rush settlers you are the best sales person of YOU and YOUR VENTURE!
Perfect Pitch =
Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.
- Helen Keller
The Eternal Optimist
You will participate in the most sophisticated ecosystem on the planet. It depends on you to take full advantage of the resources and opportunities it offers!
• Meet, read, follow, and network with successful entrepreneurs,
• Learn from leaders in your industry,
• Form a support network with peers and friends,
• Mentors could be an incredible asset, find them and use them!
The Digital Revolution
Silicon Valley Waves of Evolution
Smartphone / Tablet
• Fast learner,
• Unfazed by adversity,
• Quick to react/adapt; flexible,
• “Smart” persistence and perseverance.
• Brought his own mid-western values,
• Egalitarian culture; cubes and stock options
• Uncompromising integrity
• Welcome to Web 1.0
• Mozilla pushes for openess
• Firefox has 25% of broswer market
SERGEY BRIN & LARRY PAGE
"Our mission is to organize the world's information....
...and make it universally accessible and useful!
THE GIVING PLEDGE
Carlos S. Baradello, PhD
+1 (415) 342-6663