Myth and Realities by Eric Muller

Transcript

2. 2 Myth 1: “I better have all the answers.” Reality 1: Best teams own the ambiguity.  Reflects confidence — and competence  …risk awareness  …ability to respond to change  …ability to take advice
3. 3 Myth 2: “We just need that big partner.” Reality 2: You and your team alone control your destiny.  No shortcut to building a biz  Direct customer access is preciously guarded  Buzz is not the same as cred  Partner motivation: their self interest
4. 4 Myth 3: “We just need sales & marketing.” Reality 3: Focus must be on core product and business model.  Est. willingness-to-pay before hitting accelerator  Product-market fit = most allusive goal  VC allergic to funding “sales & marketing”
5. 5 Myth 4: “Failure is okay.” Reality 4: Technically true – but SV is the ultimate meritocracy.  Evaluated in all situations  Not all risks smart  Compelling lessons learned?  Word-is-your-bond (bled for the cause?)
6. 6 “Only hire A players.” Myth 5: Reality 5: True – but exactly how?  A+ in something (Moneyball)  Can you sell the dream?  Diamond in the rough  Take risks, fix mistakes