9 Things Stanford B-School Won’t Teach You
Editor’s Note: Our instructive humorist, Larry Chiang, is at it again. If you enjoyed 9 VC’s You’re Gonna Want To Avoid, you’ll like this week’s submission, on some all-important business skills no founder could glean from a GSB syllabus. We’re co-sponsoring Larry’s contest to discover the best founder’s skill acquired outside an Ivory Tower. Submit yours at the end.
1) Triple-Threat-Got-Game. Big Ducky (that’s me) thinks the key to success is having as many options as possible. Three is better than two; just as in hoops. Pass. Shoot. Drive. In founders’ terms this means 80% of your time should be spent bringing money in the door — I mean revenue! If founders aren’t money pressured, then VCs will provide better terms (DRIVE). If a founder doesn’t have to sell his biz during a downturn, he can sell it whenever he wants to (PASS). If a founder can sell when he wants, then he can generate a return (SCORE). Willie Sutton robbed banks “cuz that’s where the money is.” He meant, banks have more money than the corner store. Be the ‘bank.’ Them ‘robbers’ will come. (And you know who I’m talking about!) Read More about 9 Things Stanford B-School Won’t Teach You