Ryan Says…

I have decided to try and post more regularly on my blog, and not only that to post useful information and advice relating to entrepreneurship. While I dont yet have the experience myself to pass on my tried and tested wisdom, I have learnt a lot from the advice of many wise and experienced entrepreneurs and VCs I have met here in Silicon Valley. I plan to post some of these interesting tidbits on my blog. So here’s the first one…

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Gary Morgenthaler, known to some as the ‘Father of Venture Capital’ gave a talk at Stanford in June of this year. His talk (download the slides) was full of great advice, but I’ve decided to extract just a few pieces here

First, advice on Leadership and Management:

Management is about things. Leadership is about people.

Leaders:

• Have a clearly defined vision and set of goals

• Find, attract and motivate the necessary people

• Communicate status, progress and issues

• Inspire them to bear pain and perform above their ordinary abilities.

Managers:

• Have a strategic plan and a tactical plan

• Assemble the resources

• Set goals, tasks and priorities

• Measure and control progress toward goals.

A true CEO is both a leader and a manager

Second, advice on self-discipline:

• “Sympathy is a word in the dictionary”

• “2/3 of the world’s work is done by people who don’t feel well”

• “The difference between you and genius is 8 hours of hard work”

• Prioritize your goals: “You can’t do everything.”

• Pursue w/ intensity: “Most people give up too easily”

• “FIP”: Focus, Intensity and Persistence
  - A 75 watt bulb barely lights a room
  - A 75 watt laser burns through steel

And lastly, his top ten Life Lessons:

1. Graduate from Stanford, and your future is bright!
2. The difference between you and genius is 8 hours hard work.
3. “The harder I work, the luckier I get.”
4. Ethics and integrity are a competitive advantage.
5. Of those to whom much is given, much is expected.
6. Seek out and become part of a winning team.
7. Fire before you hire. Hiring shortcuts = damage control later.
8. “You are a prisoner of the people you surround yourself with.” Choose wisely. You can change them very little.
9. Choose your goals carefully. “If you don’t know where you’re going, any road will get you there.”
10. Seek good advice. It’s the hardest thing to get in life.
    

Good advice may well be the hardest thing to get in life, so I’ll do my best to capture the best I’ve heard here on my blog.

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