This is a must-read book for every business owner and entrepreneur. If you haven’t ordered your copy yet, here is the link to Amazon page: http://amzn.com/B006C9EM1Q
“Venture Capitalists at Work: How VCs Identify and Build Billion-Dollar Successes” by Tarang Shah
This is the presentation I recently gave to a group of 300 small business owners and it was received extremely well. The audience found it to be quite informative and inspiring. And so will you!
What can small businesses learn from Venture Capitalists and their huge startup successes like Facebook, Groupon, Youtube and 70 other top startups of our time?
In this presentation I will show you three easy steps to build successful small businesses and how you can incorporate key success characteristics of great entrepreneurs to change success potential of your business manifold.
All the best! May success be with you in every step of your entrepreneurial journey!
Tarang Shah & Sheetal Shah
Authors
21. Copyright VCs At Work Tarang Shah
What’s one most important thing that’s common
among all Successful Companies?
22. Copyright VCs At Work Tarang Shah
What Should be your Mission Statement?
23. Copyright VCs At Work Tarang Shah
How to Delight your Customers?
24. Copyright VCs At Work Tarang Shah
Anatomy of Successful Entrepreneurs
Balanced Ego – Big ego to Real Visionary – Can
pursue unconventional ideas Big & Bold Head see the whole company
but in-check ego to surround – “The World is beyond current product
with people smarter than him Not Enough” ; Big Ears – Listens
Not afraid of non- actively and intently to
Authenticity – Product view consensus view customers and analytics
informed by 10k hours of
tinkering; deep experience that Passionate Disinterest –
provides insights into the fine Passionate to seek out the
nuances of market and customer truth but not biased about the
outcome – highly objective
Iterative – Not afraid of failures
Genuine & Avid Passion to
but like Edison enjoys discoveries High Integrity solve the problem and make
through methodical trial and – Transparent a difference -> A Missionary
errors and
Trustworthy Personal Relevance to the
Extremely Focused – breaking vision pain point being solved –
into short-term metrics and single- motivation beyond making
mindedly pursuing it. money
25. Copyright VCs At Work Tarang Shah
Step 1: Understanding the “Pain Point” or “Need”
27. Copyright VCs At Work Tarang Shah
Step 2: Validate the Need
28. Step 2 : Validate the Need
Changing Highly
New Supporting
Customer Attractive
Technology Infrastructure
Behavior Market
29. Disrupting Established Markets
New New Lean Mean
Fat Cats
Technology Cat
Fat Telcos P2P Sharing Skype
Blockbuster Internet Netflix
30. Identifying New Promising Markets
???
Netscape
eBay
Cisco Amazon Mobile
3Com
Apple Internet
Microsoft WANs
LANs
IBM
Intel PCs
Micro
Computers
Chips
Transistors
1950 1960 1970 1980 1990 2000
31. What are some of the Emerging Platforms
Today?
Smartphone iPad/
Facebook Twitter
Tablet
PayPal Amazon ??? ???
32. Step 3: Find the Product-Pain Fit
Copyright VCs At Work Tarang Shah
33. Copyright VCs At Work Tarang Shah
Step 3: Find the Product-Pain Fit
37. Your Tool - R.I.P. (Rapid Iteration & Pivoting)
Copyright VCs At Work Tarang Shah
38. Copyright VCs At Work Tarang Shah
R.I.P. (Rapid Iteration & Pivoting)
39. High RPM & Small Turning Radius
Copyright VCs At Work Tarang Shah
40. Copyright VCs At Work Tarang Shah
Bonus Tip: Building World Class Team
Lift the quality Hire unfettered
Hire for Cultural
of team with passion without
fit as much as
each hire and ego & restrictions
functional skills
fire of past learning
Hire people who Fire promptly and
Hire People you
can start adding amicably
have worked
value day 1 – No someone who is
with well before
time for training not fitting well