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“The first thing you should learn
in a course on entrepreneurship
is how to make yourself
valuable.”

   •    Combine Skills
   •    Fail Forward
   •    Find the action
   •    Attract Luck
   •    Conquer Fear
   •    Write simply
   •    Learn Persuasion

                                    Scott Adams WSJ 4/9/11
Entrepreneurial Lessons Learned
        By Sam W. Beal


       SCU Apr 11, 2012
        Linkedin/in/SamWBeal
        @sambeal
        Sambeal.com
“The first thing you should learn in
a course on entrepreneurship is
how to make yourself valuable.”
  •    Combine Skills
  •    Fail Forward
  •    Find the Action
  •    Attract Luck
  •    Conquer Fear
  •    Write Simply
  •    Learn Persuasion
                          Scott Adams WSJ 4/9/11
Catch a paradigm shift, if you can
People tend to over estimate near-term change
And under estimate long-term change


                           reality




                exit
                               expectation
    entry
What business are you in?
Technology   Products   Solutions
antifuse     Bigger     Time to Market

             Faster
             Cheaper
Plan on needing a Plan B
          Don’t bet all your capital on Plan A

          Conserve funding until you validate
          assumptions with real users.
Validation is tricky
Validation is tricky
People tend to “see” evidence that confirms
beliefs but overlook what doesn’t.

Does the customer refer the product to friends?

Is she still using it 3 or 6 months later?

Anything that takes money or attention away
from your target customer is competitive.
Plan B examples
AOL         Yahoo        Google     Facebook
ISP         Search       Search     edu directory    A
walled      display ad   adwords    walled garden
garden      Portal       search                      B
+ Netscape verticals     + video    the future web
sold - $$$               + mobile                    C
                         + social

yahoo 2.0 ? Plan D?
Can’t do Plan B, our patent is on Plan A

                            Xilinx 2010
              1998




A patent doesn’t mean you
can make it or sell it
Right idea – Wrong time
 You can be too early
If you are too early, you need

Deep pockets
Partners – Alliances, Evangelists
Patience
     Patent filed in 2007 issued on 2/21/12
Build a
team,

don’t be
the team.
Summary
Good ideas aren’t enough

Find a mensch

Be a Samurai
Ideas, people and $$$ are not enough.
Find a mensch
Instagram CEO Kevin Systrom

                          @kevin was
                          an intern
                          under @Jack
                          – the founder
                          of Twitter and
                          Square
Jason Calacanis*

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Entrepreneurial lessons apr2012

  • 1. “The first thing you should learn in a course on entrepreneurship is how to make yourself valuable.” •  Combine Skills •  Fail Forward •  Find the action •  Attract Luck •  Conquer Fear •  Write simply •  Learn Persuasion Scott Adams WSJ 4/9/11
  • 2. Entrepreneurial Lessons Learned By Sam W. Beal SCU Apr 11, 2012 Linkedin/in/SamWBeal @sambeal Sambeal.com
  • 3. “The first thing you should learn in a course on entrepreneurship is how to make yourself valuable.” •  Combine Skills •  Fail Forward •  Find the Action •  Attract Luck •  Conquer Fear •  Write Simply •  Learn Persuasion Scott Adams WSJ 4/9/11
  • 4. Catch a paradigm shift, if you can People tend to over estimate near-term change And under estimate long-term change reality exit expectation entry
  • 5. What business are you in? Technology Products Solutions antifuse Bigger Time to Market Faster Cheaper
  • 6. Plan on needing a Plan B Don’t bet all your capital on Plan A Conserve funding until you validate assumptions with real users.
  • 8. Validation is tricky People tend to “see” evidence that confirms beliefs but overlook what doesn’t. Does the customer refer the product to friends? Is she still using it 3 or 6 months later? Anything that takes money or attention away from your target customer is competitive.
  • 9. Plan B examples AOL Yahoo Google Facebook ISP Search Search edu directory A walled display ad adwords walled garden garden Portal search B + Netscape verticals + video the future web sold - $$$ + mobile C + social yahoo 2.0 ? Plan D?
  • 10. Can’t do Plan B, our patent is on Plan A Xilinx 2010 1998 A patent doesn’t mean you can make it or sell it
  • 11. Right idea – Wrong time You can be too early
  • 12. If you are too early, you need Deep pockets Partners – Alliances, Evangelists Patience Patent filed in 2007 issued on 2/21/12
  • 14. Summary Good ideas aren’t enough Find a mensch Be a Samurai
  • 15. Ideas, people and $$$ are not enough.
  • 17. Instagram CEO Kevin Systrom @kevin was an intern under @Jack – the founder of Twitter and Square