Geoff Yang, founding partner of Redpoint Ventures, shared his perspective on what makes someone a successful entrepreneur at Stanford ETLâs talk today. His talk was jammed with great bite-sized insights, so I present them to you in a series of bullet points:
Learn (and make mistakes) on someone elseâs nickel.
Expand your network. This will pay dividends for you when you start your own company and hire people you know, rely on and can trust.
Think huge. Have a driving passion to change the world and make it a better place.
Recognize patterns where others see chaos.
Have conviction and clearly articulate it (along with your companyâs strategy and purpose).Â
Turn your idea into a company. Once you decide to go, do it and move quickly.
Recognize and support your own weaknesses. Get more help than you think you need.
Solicit advice and listen, but make your own decisions and take responsibility.
Make decisions on incomplete information, and fix the bad ones quickly along the way.
Recognize that you win as a team.
Never give up, but adapt to opportunities along the way.
Hire the right people. Hire after growth.
Raise what you need to get to the next milestone.
Maximize the pie, not just your slice.Â
Choose your investor as you would a true business partner.
Donât focus on dilution, focus on outcome.