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If You Really Want to Change the World
This presentation consists of highlights from the interview with Moe Abdou,
founder & host of 33voices®.
Norman Winarsky was President of SRI Ventures at SRI Interna-tional, a world-renowned research institute.
Henry Kressel served as a senior partner and managing direc-tor at Warburg Pincus, a leading global private equity firm, for
more than thirty years.
Norman Winarsky & Henry Kressel
@normanwinarsky
Co-authors of ‘If You Really Want to Change the World
Observe the most successful breakthrough ventures and you’ll
notice these four ingredients:
Insight #1
Observe the most successful breakthrough ventures and you’ll
notice these four ingredients:A large market opportunity with
potential for rapid growth
Insight #1
Observe the most successful breakthrough ventures and you’ll
notice these four ingredients:An outstanding team capable
of execution
Insight #1
Observe the most successful breakthrough ventures and you’ll
notice these four ingredients:A differentiated technology or business
solution that trumps the competition
Insight #1
Observe the most successful breakthrough ventures and you’ll
notice these four ingredients:A value proposition and business plan that
articulate the company’s value, strategy, and plan to attract the required capital
Insight #1
Insight #2
Pursue bigger problems:Market pain = Market opportunity Greater pain = greater opportunity
Insight #3
A good way to think of a product is that it is a representation of the genius of the people
who created it. A great team can create a great product. A mediocre team will always create a mediocre product.
Insight #4
The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re
different than management teams in that:
Insight #4
The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re
different than management teams in that:They get paid less, having their ultimate
financial reward tied to equity
Insight #4
The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re
different than management teams in that:They are problem solvers and risk takersnot dependent on the infrastructure of a
big company to get their job done.
Insight #4
The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re
different than management teams in that:They expect to work day and night,
seven days a week
Insight #5
You can’t build a great company without great leadership. Famed venture capitalist, Vinod
Khosla bets on CEOs with bold visions:
“It’s not about people who have focus groups to determine products - which reduces
everything to mediocrity…” he said “…It’s not about consensus or common opinions. Steve jobs famously ignored consensus advice. The development of really new product concepts is done by vision, not by process. It’s about
vision, passion, and the courage of convictions.”
Insight #6
Beware of the Pivot, for as Mike Moritz once said,
“pivot means you’ve failed. It’s not that you shouldn’t have to move on sometimes,
but it shouldn’t be a strategy.”
Insight #7
When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During
your first discussion, tailor your presentation to answer these three questions:
Insight #7
When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During
your first discussion, tailor your presentation to answer these three questions:Do you have a compelling vision
and value proposition?
Insight #7
When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During
your first discussion, tailor your presentation to answer these three questions:
Are you and your team passionate and unrelenting in your commitment
to the vision?
Insight #7
When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During
your first discussion, tailor your presentation to answer these three questions:Are you and your team capable
of executing?
Insight #8
The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:
Insight #8
The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:
Failing to know your customer
Insight #8
The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:
Keeping the wrong CEO
Insight #8
The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:
Mismanaging finances
Insight #8
The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:
Being overconfident
Insight #8
The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:
Failing to anticipate future industry developments
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:
Start at the top and encourage your team to take risks
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:
Know how to manage exceptionally creative people by transforming their
ideas into commercial value
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:
Establish a culture that motivates and innovators
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:Establish a common language and process
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:
Create centers of innovations to assess opportunities in the marketplace
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:
Encourage innovation at all levels
Insight #9
Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:
Innovate continuously
Insight #10
If you set out to build a truly enduring business,
remember these words from Pericles, “What you leave behind is not what is
engraved in stone monuments, but what is woven into the lives of others.”
Reflect: What criteria do you use for selecting a capital partner?
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Presentation created by Chase Jennings
Insights by Moe Abdou