WSJ: Wising up to Failure
Brian O’Kelley used to be good at getting fired from startups — even startups he founded. Less than a decade ago, he was on a trajectory to become one of the smartest people who nobody wanted to work with.
LinkBrian O’Kelley used to be good at getting fired from startups — even startups he founded. Less than a decade ago, he was on a trajectory to become one of the smartest people who nobody wanted to work with.
LinkDEKA's business model is to get paid by big companies to develop new technologies, which DEKA then licenses to the big company to use; they are perpetually in stage one. DEKA has never dealt directly with consumers, nor has it manufactured or sold the products it produces - with the exception of one attempt.
LinkAsk an entrepreneur about the company’s strategy and you are likely to hear a lot about a revolutionary idea, a disruptive innovation, or maybe an ingenious business model. All of those things are worthy pursuits, but entrepreneurial strategy, in its essence, is profoundly simple. The overriding goal is to get the fledging enterprise to the next stage of maturity. Any activity that isn’t focused on getting to the next stage is a waste of effort, time, and money.
Read MoreThe fledgling entrepreneurs I mentor often have no shortage of strategies: ambitious business plans, technology strategies, market strategies, and sometimes even exit strategies. But when I ask them to describe their personal leadership strategies they often give me blank looks. A personal leadership strategy, or PLS, is a plan of action for acquiring and mastering the skills required to take an idea to a self-sustaining enterprise: self-awareness, the basics of enterprises, relationship building, motivation, and change leadership.
Read MoreAs history has shown, CEOs shouldn’t fear new technologies or products, but rather entrepreneurial leaders able to execute new ideas in their industries.
LinkAs a professor of leadership and entrepreneurship, I hear this question a lot. While I encourage my students and mentees to develop their talents, I also remind them skills will only take them so far.
LinkJerry, a 40ish first-time entrepreneur with world-class technical skills, came to me despondent the other day. His head of sales and head of marketing hate each other, he told me. He didn’t want to choose between them, but was afraid he could lose them both of them if he didn’t.
LinkThe other day a young and driven entrepreneur I have been mentoring asked me how she should go about estimating the investment in training she will need for about a dozen people she needs to hire in early 2015. I responded that there are no tradeoffs between training and budget; world-class training comes naturally with inspired startup leadership.
LinkResearch on the causes of entrepreneurial failure is often confusing and contradictory, but most investors and successful entrepreneurs agree that five common mistakes are potentially fatal.
LinkI was fortunate to have the opportunity to publish a guest blog post on TanveerNaseer.com about the relationship between good ideas and good leaders. Enjoy!
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