“Often we’re investing in two guys and a dog . And it’s the dog who has the most business savvy.”
–early-stage venture investor, on what it’s like working with lots of portfolio companies started by engineers.
Last week Bill Gates gave the commencement address at Harvard University. If you’ve ever heard Gates do any public speaking you know he’s no Steve Jobs (think of the nerd in those Apple television commercials and you’ll get the idea.) The day of the commencement I had the great misfortune to have to attempt to get to a board meeting in Cambridge. This is a bit like trying to get take-out from your favorite Szechuan joint on Melrose the night of the Academy Awards. Sitting in traffic near Harvard Square, surrounded by movers and shakers, I happened to tune in to WHRB, Harvard University’s radio station, which was broadcasting the ceremonies. I figured I’d listen to Gates’ intro, and then go back to my iPod.
Alan Khazei is the co-founder of City Year, one of the country’s most influential community-service organizations, and the inspiration for President Clinton’s Americorps. Alan is also widely regarded as one of the most important young leaders in the country. When Alan visited my class just before the end of the semester, one of the students asked him if he could sum up his leadership experiences in the form of advice for the class. Like some other high-profile leaders we know (see “How to Create a Monster(.com),” Jan 14 posting), Alan had his top 10 list for would-be leaders ready:
“Entrepreneurial management is simple, but not easy. What you have to do and how you do it are incredibly simple. But are you willing to do it? Now that’s another matter.”
–From a conversation with Peter Drucker and George Gendron
Teams. Just say the word anywhere in business these days and we all nod our heads solemnly. There’s no “I” in the word team. You know the mantra. And don’t get me wrong: we believe it. Or at least we think we do. But for all that’s been written and preached about the subject, there’s still one thorny problem that’s rarely discussed. We like to be surrounded by people like ourselves. This is particularly true for those of us who pride ourselves on being conceptualizers, idea generators.
“You look at the poverty, the backwardness, the bureaucracy in China, and maybe you want to give up on it. But China is coming back, and to get in on that–hell, that’s an opportunity no Yankee trader can ignore.”
Henry Hwang, founder and CEO of Far East National Bank, told to an Inc Magazine reporter in 1986
“If I was a manager, I could come in at nine and leave at five. But I’m not a manager, so I come in at five and leave at nine. We don’t manage by managing, but by being there all the time.”
–Chuck Sussman, founder and CEO of Pretty Neat Industries
Companies agonize over names, some spending hundreds of thousands of dollars finding the right one. Perhaps there are times when the direct approach is the best. “Best Place Entrepreneurship Program” anyone?
“The fact is, you can’t name a business anywhere that can’t be improved with some ingenuity and some technology.”
–Steven Brandt, Emeritus Lecturer, Stanford Business School
Every semester students in my class confront one of the fundamental paradoxes inherent in launching a new venture: the need to get into the market to conduct research while, at the same time, protecting one’s idea. One way to think about this is to explore all of the legal mechanisms available: trademarks, patents, copyright, non-disclosure agreements (NDAs), and non-competes. A familiarity with the advantages and limitations of these is essential, and I’ve often brought in experts to discuss the finer points of each.
